Fast business growth is a great thing. It can motivate staff to continue working hard and it projects a positive image to clients. However, it can also be tricky to manage.
Some of the issues fast-growing businesses encounter include preserving cash flow, finding more office space and improvising services to cater for the increased demand for products. When businesses expand too fast without the right systems in place, the operational process will not flow smoothly.
On-site ERP versus a cloud ERP
An Enterprise Resource Planning (ERP) system can benefit any business tenfold. All good ERP systems are built to be scalable. However, the limitations of an on-site ERP system can be a big downfall. An on-site ERP system is limited to the existing business hardware, and in addition, updating an on-site ERP – with a large amount of company data – can be a risk, potentially causing loss of data and staff downtime. With rapid changes in technology, the investment of purchasing up-to-date hardware adds up, and scalability is a key component when choosing an ERP for your business.
Onboarding new staff
One of the major benefits of a cloud ERP is the ease and speed with which new users and licenses can be added when your business hires new employees. Getting staff on board fast and efficiently means productivity and processes will be on track sooner.
Cloud ERPs offer fast flexibility
Cloud ERPs do not tie your staff down to one particular location. Any device with access to WiFi, including laptops, smartphones and tablets, can be used to access and share information with all staff across your departments. Fast-growing businesses need this level of flexibility to continue to compete in a crowded market.
Changing face of the workplace
The COVID-19 pandemic gave businesses using cloud ERPs a clear advantage over businesses that had on-site ERPs systems. Businesses that used cloud ERPs adapted faster to remote working and more efficiently compared to non-cloud competitors in the same industry.
Cloud-based ERPs offer scalability options that are perfect for growing businesses of any size. In addition to the scalability of a cloud ERP, there are many other reasons to make the move to the cloud. If you are interested in talking through the advantages of moving to a cloud-based financial management system please contact us to find out more.
