Are you a Singaporean citizen and are wondering what a cloud ERP system is? Well, you are at the right place. An ERP system is software that is used to run activities that help a company manage different functions such as purchasing, inventory management, HR, and finance.

A growing business needs to upgrade their technology often to keep up with expansion and growth. Purchasing an ERP is one of those significant investments a company has to make. This software often becomes the lifeline of your business to manage all different aspects of the company. It’s the single place where you can manage payroll, HR, manage inventory, and shipments of your products.

Cloud Enterprise Resource Planning Solution is a software-based service, which is also known as Software as a Service (SaaS). It increases accessibility via the internet and enables users to share and transfer data across business departments, as well as externally. Because it is cloud-hosted, businesses don’t need to invest in space to store the hardware or investing in more workforces.   Cloud ERP can be accessed from anywhere; it comes with a backup and data recovery services from the providers to make sure company functions don’t experience interruptions.

With cloud ERP, organizations pay for used resources monthly, rather than a fixed price all upfront. Companies forgo the additional costs of purchasing hardware and maintenance on-site, thus decreasing operating costs. As business needs change, they can alter how much they use cloud services. For instance, during the high season, a company can scale up and reduce how much they are paying for during the low season.

Why Invest In Cloud ERP?

Cloud ERP has lower upfront costs because computing resources are leased by the month rather than purchased outright. Cloud ERP gives a company access to its business-critical applications at any time from any location. Unlike ERP that is on-premises, cloud ERP does not require an enterprise to allocate capital or space to set up. Also, there are no maintenance costs to account for.

Both small and medium-sized businesses can use the Cloud because it has a lower total cost of ownership compared to owning an on-premise ERP. Since you are paying for what you need to access to the software, you can avoid steep upfront expenditure to purchase the software and hardware necessary to run your ERP. Using cloud ERP can help a company scale its business productivity and lead to growth and better management.

Companies pay a monthly fee to use and access the software continually. The ERP provider you choose to work with will help you set up the service and help with maintenance. Users can save costs over time by being increasing and decreasing server space based on demand. This way, they only pay for what you need.

With cloud ERP, you can access it anywhere as long as you have an internet connection. This allows you to work wherever you are. You can take orders, check inventory and perform other tasks that are traditionally done in the offices.

Conclusion

If you’re in Singapore, using ERP in your enterprise not only cuts costs but also integrates all departments in your organization to create efficiency. The cloud ERP software unlocks new processes and tools that were not readily available or would have cost a fortune for small companies.