ERP on Cloud, also known as Cloud ERP is basically a kind of ERP - Enterprise Resource Planning software which is hosted on the cloud hosting platform, instead of on-premises in the data center of an enterprise.
It is a term utilized for a wide range of activities which helps a business manage various parts of the business like inventory management, Customer Relationship Management (CRM) and inventory management. The applications of ERP can too include human capital and finance management aspects' modules.
Cloud ERP is a kind of SaaS, which maximizes accessibility through internet and enables customers/clients to transfer and share data in business departments and externally real-time. As cloud ERP is hosted on the cloud, so businesses receive notifications of updates immediately. ERP based on cloud comes with the backup, disaster recovery plans, and availability from hosting providers in order to minimize disturbances to software.
Similar to other hosting models, ERP on cloud follows the same payment models. Businesses make payment for resources used monthly instead of fixed price upfront. In addition, it removes a need for maintenance on-site and additional hardware which minimizes the operational costs. Enterprises or businesses can scale resources or alter the usage of cloud services according to their requirement.
Some advantages of Cloud ERP -
1. Save Money
Businesses which moved from ERP on-premises to ERP on cloud saved instantly as there is no need to manage or fund their data centers. In its place, they need to make a payment to cloud ERP service provider on monthly or yearly basis. The best part is when company makes these payments treats cloud ERP as completely tax-deductible expenditure (OPEX).
It is flexible as it could be accessed globally with web-enabled device. It means you possess capability to make excellent business decisions. Additionally, you can share the data easily in different departments and locations as everybody in an enterprise is interacting with the centralized data via common interface. ERP in cloud is quite simple-to-use through BI tools which are specifically designed in order to work cloud data.