How Cloud ERP can Eliminate 7 Key Business Risks

If you haven’t moved your business management systems to the cloud, you’re far from alone. Taking a measured approach to ensure your corporate data and assets are protected is just good business. But, while keeping servers with valuable corporate data in house might feel more secure, your networks and in-house systems could be holding you back and putting your business at risk.

Cloud ERP (Enterprise Resource Planning) provides more security, more functionality, and more flexibility to protect your assets and
help your organization actively compete in today’s world.

In this article, we’ll look at the risks that your organization faces every day and show you how Cloud ERP can help mitigate those risks and unlock opportunities. Read on to see how you can harness the potential of the cloud to grow your organization.

Cloud ERP Business Management Systems can help your company eliminate these 7 Key Business Risks:

1. Simplify compliance with industry and government regulations:

Keeping pace with government regulations, industry standards, and corporate quality initiatives has become an overwhelming challenge for small and medium-size businesses. In addition to the many levels of standards and regulations your organization needs to comply with, the electronic data handling laws continue to evolve. You need expert advice and technology solutions to meet these demands.

2. Protect customer, employee, and corporate data:

No business can afford to ignore the security risks that can destroy a hard-built reputation and cost millions. In today’s risk-filled digital environment, few organizations have the internal resources to provide the level of security needed to protect business and corporate data effectively. A ransomware attack can virtually close a business down if CRM and ERP systems are held hostage.

3. Deliver customer experiences that keep them coming back

As disrupters enter your industry and build on digital opportunities, your customers—whether consumers or commercial—expect your organization to keep pace. Your employees can’t deliver great customer experiences if they are burdened with disconnected systems. Both customers and employees will grow frustrated and take advantage of what the disrupters have to offer.

4. Uncover opportunities to build revenue:

When your finance team spends all their time entering numbers into spreadsheets, they don’t have time to put that data to work. Data provides a strategic advantage and your competitors are ditching the spreadsheets for analytics that turn digital information into profits.

5. Improve operations with data-driven decision making:

If your business data is spread across systems that don’t connect or locked up in spreadsheets, you are making decisions with incomplete information. Separate systems used to manage sales, finance and operations makes it impossible to have a single comprehensive view of the business. To keep pace in the digital world, your organization needs to connect systems so that data can flow end-to-end.

6. Support a modern, mobile workforce:

If your business is still tied to paper, it will get harder and harder to attract good employees. This generation of workers expects business processes to be easy, with information right at their fingertips when they are closing a sale, working on a project, or checking on shipments.

7. Decrease opportunities for human error through automation:

No matter how skilled and how careful your employees are, mistakes are going to happen. Whether it’s entering data into spreadsheets, providing price quotes or purchasing inventory, if your employees are working outside of automated systems, they are going to make mistakes. And those mistakes can cost your business customers, profits, and reputation.