Pay Less And Get More – Is This What Modern, Cloud ERP Is All About?

The new-age CFO pays monthly for music, TV shows and movies.

In a modern Cloud-Connected world, why would we pay huge upfront fees for anything, including ERP software? Why implementing an ERP is not quite as easy as downloading the latest episode of your favourite shows from Netflix?

The modern thought process which says “I want to pay as I use software and I want a quicker time to value” is creating waves in the ERP industry.

In this article, we are going to review how the new way of consuming technology is disrupting the ERP industry and what businesses can do to get the most from their ERP investments.

End users will be the winners

In the new age of Cloud-based ERP software solutions, end-users will ultimately be the winners.

As always, let’s consider what business advantages we get from Cloud ERP solutions. Expecting more from Cloud ERP than ever before means that we want to see real, tangible business benefits. These benefits run on both sides of the ledger.

• Cost savings;
• Using opex cloud investment rather than capex;
• Only paying for what you use, when you use it;
• No need for expensive IT infrastructure;
• Revenue creating advantages;
• Quicker quote to cash times;
• Reduced inventory;
• On-time in full delivery for your customers;
• Improved Customer satisfaction;
• Better cash flow.

The advantages that we have been seeking from modern ERP solutions have not changed. What has changed is our expectations about time to value. We want to pay less and get more.

New technology, new expectations

The modern, new age, Cloud ERP customer wants:

• Shorter project timeframes – from project kick-off to go-live date.
• Monthly opex based payments;
• Pay as you use/pay as you go;
• Less upfront (implementation) cost;
• More tightly integrated solutions;
• Web-based access and mobility for all team members.

The expectation has been created – technology is improving at a rapid rate – cloud, mobility, AI, IoT and more. Now we want more from our ERP Solutions.

How do we achieve the advantages that we are looking for and keep the investment requirements on track?

Planning is important! It all starts with choosing the right ERP solution. Let’s think our way through the ERP selection steps to ensure that you get more from your technology investment.

• Technology is changing at a more rapid pace than ever before. Take advantage of this by choosing a modern, cloud, ERP solution;
• Make sure the solution you choose covers your functional requirements – financial, operational, sales / CRM and reporting;
• Consider a templated solution for your implementation. This can greatly reduce the time and associated investment to implement;
• Deploy a Cloud-Based solution – spend opex, not capex;
• Implement core Cloud-Based ERP technology and then expand the solution as your business grows;
• Don’t try and do everything at once but grow with the solution;
• Consider integrated point solutions (or core functional solutions) that can have a massive impact on time to value – AP automation, sales order mobility, BI etc;
• Keep the initial requirements simple – put the foundation solution in place and then add functionality as and when required;
• Technology is important – look for a solution that offers web-based technology, easy development platforms, mobility and more;
• It’s an integrated world – make sure that your ERP is an open solution with easy (pre-templated) integration points;
• Check for third-party, pre-defined integrated solutions. As an example is Microsoft Power BI pre-integrated? What mobility options are available?
• Consider templated reporting packs that can be quickly deployed at low cost;
• Ensure that annual upgrades are included in your cloud plan;
• Choose a reputable ERP provider that has implemented solutions for your industry;
• Talk to your ERP provider about a fixed-price implementation.

Conclusion

Cloud Computing has disrupted the way businesses implement and pay for ERP software solutions.

In the new world of modern, Cloud-Based ERP software, the winner is the end-user. You get more computing power and ERP functionality than ever before and at a fraction of the price.

This is only the beginning – as technology improves and we introduce Artificial Intelligence (AI) and other emerging technologies the time to value will continue to improve.

Are you evaluating possible ERP options for your business? Call 1300 045 046 or email info@leveragetech.com.au to speak to one of our consultants.