In today’s world, where businesses are evolving digitally optimizing their operations and gaining a competitive edge, cloud-based solution is an emerging technology.
One such transformative technology is Cloud ERP i.e., Cloud enterprise resource planning. In this blog, we will explore cloud ERP, cloud ERP systems, the benefits of cloud ERP, and the top 10 best cloud ERP examples.
What is Cloud ERP?
Cloud ERP is an enterprise resource planning software that runs on vendor’s cloud platforms that allow organizations to access the internet. It offers infinite ability to scale and innovate your business.
Let’s take a look at what is cloud ERP software. Cloud ERP is accessible over the internet, it is Software as a Service i.e., SaaS that gives businesses to access their company's critical applications at any time from any location.
It is a modern, affordable, and comprehensive solution for businesses operating in today’s digital world.
This anytime, anywhere access is the game changer for businesses in the era of digitalization and allows their workforces to work remotely at multiple locations. The cloud ERP is also responsible for security, updates, and sharing of company-wide information.
Here are some key features of cloud ERP systems:
⇒ Management of Customers
Management of customers is the most crucial feature for small businesses. It lets the owner keep track of the customers. It allows you to overview the customer’s profile along with the full customer’s history with your company, including orders, etc.
⇒ Flexibility
It is more flexible than on-premise ERP systems and it can also be scaled up or down to meet the changing needs of your business.
⇒ Integrations and Customizations
You can select features and modules that best suit your organization and customize them as per your needs.
⇒ Accessibility
Cloud ERP allows you and your employees to access the system from anywhere, anytime with an internet connection. This is very helpful for the workforce to work remotely and travel frequently. Some cloud ERP solutions offer mobile apps that allow users to access the system while on the go.
⇒ Security
The main concern of any business owner is regarding security when it comes to cloud computing. Cloud ERP provider typically have robust security measures like data encryption.
Benefits of Cloud ERP for Small Business
Cloud ERP system replaces multiple business systems by merging financials, sales, stocks, manufacturing, and whatnot into a single source. It holds an organization together and delivers some significant benefits.
Read Next - healthcare management software
Let’s talk about the benefits of a cloud ERP system:
» Improves Accounting Standards and Regulatory Requirements
A cloud ERP for small and medium businesses eases complexity but provides internal control automatic updates and data collection capabilities for companies.
» Transparency Across the Organization
Small-scale businesses usually rely on offline and disconnected systems to manage their various responsibilities and this results in siloed data that makes it difficult to compile the works around. It is a time-consuming and inaccurate process. Through cloud ERP, you and your team will have access to all the data and reduce human efforts.
» Easy Team and Resource Management
Critical information such as workforce details, and inventory details can be easily monitored by the manager from a single dashboard.
» Workforce Collaboration
Through cloud ERP, team members have access to accurate information at their fingertips. They always are on the same page while working together and it reduces human efforts. Members can easily communicate through sharing files which ensures seamless collaboration between all teams working in the office and remotely.
» Increases Adaptability and Scalability
Cloud ERP offers a level of adaptability as well as scalability. You can easily scale your business with cloud ERP that accommodates requests for increased or decreased uses of resources.
Types of Cloud ERP
A company can adopt more than one type of cloud ERP, which is specific from company to company. Here is a list of the kinds of cloud ERP, that you need to know:
1. On-premise ERP (Private Cloud)
Private Cloud Models utilizing the traditional infrastructure of on-premise is a widespread choice for enterprises. On-premise ERPs are considered both robust and secure because your company owns and manages the data stored on servers.
» Benefits of on-premise ERP:
→ It manages and controls the data. Confidential information includes all types of information.
→ It offers easy customization even though cloud-based ERP solutions are impeccable when it comes to integration.
→ It offers a wide range of functionalities that can help you build a solution uniquely as per your business or company's requirements.
2. SaaS (Software as a Service)
It is the most common model for Cloud ERP and it can be implemented very quickly. It is subscription-based and can be updated automatically so you can avoid long periods of downtime while the update.
» Benefits of SaaS:
→ It lowers the costs as it saves money on hardware because the vendor hosts the software.
→ IT departments have less responsibility because it is easy to maintain, and vendors can handle the maintenance.
→ It typically focuses on user experience along with easy data sharing. Employees can easily log in from anywhere and send company data.
3. Proprietary Cloud
It is the same as a private cloud with one exception i.e., an ERP vendor hosts an instance of the ERP system in its data center.
» Benefits of Proprietary Cloud:
→ It offers flexibility, business can expand their cloud solutions as per their requirements.
→ You pay for what you use and can scale as you need it.
→ For businesses that seek the functionality of on-premise solutions but aren’t prepared for IT costs, a proprietary cloud is an ideal choice.
4. White Label Cloud
It is almost similar to Proprietary Cloud with one major difference i.e., part of the ERP system is hosted in a public IaaS such as Amazon Web Services instead of in the ERP vendor’s data center.
» Benefits of White Label Cloud
→ It allows you to customize products as per your business or company model. You can also modify the pricing structure or you can add any additional feature at zero cost.
→ It helps in brand recognition among customers and builds trust among them.
→ The interface is easy to use, and new employees or clients can use the product immediately.
⇒ IOT
IOT stands for the Internet of Things. The Internet of Things describes physical objects with sensors, processing abilities, software, and other technologies that connect and exchange data. A few examples of IoT devices can be smart thermostats, kitchen appliances, fitness tracking watches, self-driving cars, etc.
The Internet of Things relies on gadgets and other items with built-in sensors that connect to the Internet, share data with a platform, apply analytics, and distribute the data to apps made to answer particular needs. This indicates the commonplace for vacuum cleaners, cars, and robots to work through sensors to gather data.
» Benefits of IOT:
→ Asset and resource visibility on a real-time basis
→ Lower expenses
→ Enhance the end-user experience
→ Prediction, adaptive, and real-time insights
→ Remote management and monitoring of resources
Functionality a Cloud ERP Provides
⇒ Handling Accounting Processes - Cloud ERP system helps to allow teams to get a better understanding of handling accounting processes. Also helps in generating the processed and delivered automatically. AI-powered reporting and some analytics help in better functionality of financial planning.
⇒ Managing Inventory - The concept of the modern Cloud ERP systems can alert technicians on mobile devices and share the correct inventory-related information.
⇒ Managing the Orders - The main function and benefit of the Cloud ERP system is that it aims to streamline order management. It includes sales order management, and cloud ERP tools to get the orders to get entered and processed. This also helps in optimizing the order management process.
⇒ Customer Relation Management - Cloud ERP systems have different Cloud ERP tools that offer some level of CRM functionality which could be directly or via app integration.
⇒ This also allows any organization to build and gain a great view of its customers. It also helps in keeping track of sales and preparing other teams to engage with customers to maximum effectiveness all the time.
Top 10 ERP Systems for Small Businesses
Here are the top 10 best cloud ERP examples that can revolutionize businesses of all sizes in India.
1. Oracle Netsuite
It is a cloud-based business management software that helps various businesses manage their finances, relationships with customers, and operations. The level of customization and performance is a plus point when compared with other full-service ERP systems.
Netsuite offers access through a mobile device with a centralized dashboard for easy user access. It offers pre-packaged integrations to a variety of add-on tools and software and it also promotes standard and ad-hoc reporting abilities. It also supports multi-currency transactions and offers multi-language and taxation features.
» Benefits of Oracle Netsuite:
→ It provides real-time dashboards that enhance business decision-making based on the latest information and forecasts. It enables individuals to visualize the data by customizing dashboards.
→ It offers a centralized solution for the whole organization. The integrated system enables the free flow of information throughout the company and removes many time-consuming manual processes that an employee has to use.
→ Netsuite is highly scalable, it is equipped to accommodate any kind of expansion as well. Whether it’s a horizontal growth of the business or vertical growth, it is designed to grow with your business.
→ It is highly accessible, as smaller businesses don’t have that much budget to spend a lot on infrastructures and new IT staff, and when it comes to deployment in larger businesses it is quick.
→ It can be accessed online, so you can interact with it via browser or mobile app from anywhere, anytime. This means an employee can use it wherever they need at any time as long as they have an internet connection in their device, this is a handy feature.
→ It is highly customizable as it supplies on different platforms for a wide range of verticals and industry sizes. It offers a wealth of additional customization options.
→ It makes it very easy for your business to become multinational without having to implement any other separate ERP systems for the different countries involved. It supports multiple languages, currencies, and tax regulations which makes the business expand at a multinational level within the ecosystem of ERP.
→ NetSuite is a highly secure platform with world-class security with the latest solutions for protecting data, which is an extremely important aspect of ERP solutions.
→ Every single year, NetSuite has two sizeable upgrades. In between this, there are also frequent, smaller updates. This shows that your software will always be up-to-date, offering a complete range of features and the latest security measures.
→ Through specialized load-balancing strategies, NetSuite is extremely reliable. The company keeps downtime that relates to upgrades to an absolute minimum.
2. Sage Intacct
It is a cloud-based accounting software system that helps organizations to increase operational efficiencies, enable business payments, and manage and pay bills. It offers various accounting software and applications with flexible and scalable solutions.
Sage Intacct also offers built-in dashboards for access to real-time data with real-time reporting. With great time and expense management, it manages the revenue properly with global consolidations for subsidiaries or entities of the organization.
» Benefits of Sage Intacct
→ With Saga Intacct, you should not worry about bulky servers or long periods of downtime for maintenance. It’s a true cloud platform making everything available online.
→ It manages accounts across multiple locations, entities, or currencies on one platform.
→ Your master data can be shared among all your employees, instead of editing multiple copies of the same document.
→ It sees your data in all dimensions, without having to manage any complex chart of accounts. It handles more than financial data, meaning you’ll spend less time checking data for accuracy adding value to your business.
→ It creates multiple workflows for your different customers and vendors, making your workflows work for you. It will let you build your dashboards and rearrange them how you want them to be.
→ Sage Intacct lets you set up your contract and revenue policies without scripting which means you don’t need anyone else to handle your crucial data.
→ Sage Intacct allows for closer collaboration between your finance and sales departments so they can work together towards the growth of your business.
→ It is built with confidence, you don’t need to worry about the integrations breaking. It gives you more opportunities to spend more on important parts of your business.
3. Acumatica
It offers cloud-based ERP software to customers worldwide that is an adaptable cloud and mobile technology that uses a user licensing model. Acumatica gives you access to a complete and real-time view of your organization anytime, anywhere.
It gives you 24/7 access to business tools and their functions and improves day-to-day operations through any device, anytime, and anywhere. With flexible licensing plans and transparent pricing, its AI-powered automation drives efficiency to your business.
» Benefits of Acumatica
→ You can connect your workforce to this ERP system. It is an integrated system that includes ERP, CRM, sales systems, inventory, purchasing, e-commerce processing, etc. in the same system and uses the same user interface.
→ When Acumatica is upgraded, all your integrated systems will automatically be upgraded. It instantly updates and with Acumatica, information is always up to date. If the system is disconnected, reports may not balance.
→ It offers personalized dashboards. It provides charts, graphs, and files to your sales team that are related to their customers and their sales processes. Everyone will have their dashboards with the information they need to deal with customers efficiently and to make crucial business decisions.
4. TallyPrime
It is a business management software, that takes care of your Accounting which includes sales, purchases, and receivables inventory management which includes order processing and inventory tracking along with payroll management, bank transactions, etc.
It is easy to use and also optimize invoice and remove all unwanted space which is an excellent feature for small business. It accesses all masters, including ledgers, voucher types, cost centers, etc.
» Benefits of TallyPrime
→ It is simple and as per modern software standards. It can be accessed with a simple search bar called the “Go to search” switch.
→ It is very flexible, it provides you access to your tally data in the form of reports from any device, at any time.
→ It brings the ability to access your data from any device at any time from anywhere along with e-banking or e-payment features or electronic fund transfers from one bank to another.
→ Every new compliance rule and regulation introduced by the government is made available for users in the latest update
→ It consolidates all your data in one place and provides you with more ease in analyzing your data.
5. ERPNext
It is the perfect example of software that will help the company to manage the work of each department. It is an open-source web-based system aimed at small and medium-sized businesses. Businesses in manufacturing, retail, and distribution are the most suitable for ERPNext.
It is cross-compatible and flexible with enhanced UI designed in a way that is understandable, productive, and easy to use. It supports multi-currency and multiple countries.
It allows departments of small or medium-sized organizations to run their business smoothly and communicate with each other using resources of one unified solution.
» Benefits of ERPNext
→ It tracks all your invoices and payments and lets you know how much of which product is available in stock.
→ It also tracks your budgets and expenses and determines the effective selling price based on the actual raw materials including machinery and labor cost.
→ ERPNext manages employee payroll assigns tasks and tracks them and gives reminders about maintenance schedules.
6. Microsoft Dynamics 365
It is a combination of customer resource management (CRM) software that gives businesses the ability to centralize their customer insights and data related to their businesses. It offers a wide range of solutions for a variety of business departments, including sales, marketing, and HR.
The Microsoft Dynamics 365 ERP system cost is considered mid-range and the pricing adds per-tenant or per-user costs.
» Benefits of Microsoft Dynamics 365
→ It provides businesses with better insights into their data. It highlights trends among customers, identifies which products sell best or how the other factors may impact the supply chain.
→ It offers pre-built applications that allow businesses to gather and use data faster.
→ Users get better insights with Dynamics 365 and they can easily adapt to changing market conditions faster preventing them from major revenue losses.
7. ODOO ERP Software
It is a resource planning software used by companies for the management of business processes. It offers seamlessly integrated functional business apps along with an ERP solution when combined. It is available with a SaaS subscription which can be integrated with many third-party add-on software apps.
Businesses are required to pay only for the app that they need. It has several modules making it apt for small businesses. It gives you access to many features like a dashboard facility, customizable categories, dimensions, or classes, automated payment processing, and customized invoice management.
» Benefits of ODOO ERP Software
→ The holistic database provided by Odoo can reduce data errors and enhance collaboration among various departments by converting it into a single source and making it work with a common goal.
→ It enhances analytics and reporting through well-organized and simplified data analytics and reporting can help gain better insights.
→ It brings customer satisfaction through integrated CRM tools to facilitate your sales team with better communication across all platforms.
→ It is a user-friendly modular structure and can help businesses grow and develop by adding subside tools and customizing them as per the choice for your business.
→ The pricing of Odoo is budget-friendly and based on the modules covered, implementation, and hosting type. You can collaborate with unconnected software systems to fulfill your dynamic business needs that may come in the future.
8. ORION ERP
It is an integrated, cost-effective, and cloud-enabled industry solution for growing small and medium-sized businesses. It is built on future-ready technology and it empowers organizations to optimize business processes.
It is a great tool for managing resource planning with a flexible dashboard that assists you to find and search for a lot of things. ORION ERP module handles accounting, budgeting, and forecasting.
» Benefits of ORION ERP
→ It accelerates time-to-market with innovative products and services.
→ It offers tailored solution solutions for every industry and helps businesses to improve efficiency and reduce operational costs.
→ The system dashboard is very easy to use and customized to overview your daily activities.
9. SAP ERP
It stands for Systems, Applications, and Products in data processing, usually used for large organizations. The software solution supports multiple currencies and it is available in 27 languages.
It includes various features like financial management, global support, improved cost-efficiency, and continuous innovation. SAP ERP offers a wide range of modules that help to run the core areas of business across industries like finance, manufacturing, and many more.
» Benefits of SAP
→ It provides you with advanced data management.
→ It helps in minimizing administration and operations expenses by using accurate and real-time information.
→ All the business information is shared in a single database which avoids duplication and ensures transparency.
→ Every business has its unique requirements and each business gets a tailored system. SAP ERP systems are easy, flexible, and highly customizable.
→ It revamps performance efficiency.
10. Tech Cloud ERP
It is mainly known for innovation in the manufacturing industry. It is a web-based ERP and cloud-based enterprise software for small and medium enterprises to fulfill the needs of growing businesses.
It has the most direct impact on reducing costs through improving efficiencies and decision-making. It is an enterprise-wide information system that facilitates the flow of information within the organization.
» Benefits of Tech Cloud ERP
→ It can process millions of transactions from various sources.
→ It supports an unlimited number of users, you can enjoy a multi-user facility for free and control user permissions.
→ It offers amazing support and flexible pricing with an auto-backup facility and an inbuilt SMS and email facility.
Conclusion
The way cloud ERP systems have revolutionized small businesses in India by managing their operations and driving growth to their businesses, clearly shows how beneficial cloud ERP system is.
With a wide range of options available, selecting the right cloud ERP system for your business is crucial. Whether it’s finance management, inventory management, production planning, or CRM i.e. customer relationship management, a Cloud ERP system provides you with a comprehensive solution for businesses, whether it is a small size business or a medium-sized business.
Installing a cloud ERP system takes a lot of load off your shoulders and helps your employees to collaborate easily lastly and most importantly it helps in estimating the future of your company. Get in touch with the best cloud service providers.
Find some of the best cloud ERP examples along with the benefits of cloud ERP in this blog and get seamless personnel management for your business in India.
Frequently Asked Questions
Q1. What Is Cloud-Based ERP?
Ans. Cloud ERP is an enterprise or firm resource planning software and is approachable over the Internet. As it is considered the IT backbone or “brains” of a company, cloud ERP software offers advanced practicality and benefits for all the core processes in an organization.
Q2. Which ERP Is Best For Small Business In India?
Ans. The best ERP systems for small businesses in India are mentioned below:
→ NetSuite
→ SAP S/4HANA Cloud
→ Sage Intacct
→ Acumatica
→ TallyPrime
→ SAP Business One
→ Microsoft Dynamics 365 Business Central
→ Odoo ERP
Q3. Which ERP Software Is Mostly Used In India?
Ans. Tally ERP software is widely used in India. It is known for its stock control, accounting, payroll functions, and reporting. Tally Prime is the top ERP software in India. It especially nurtures ERP requirements and the accounting of small-scale businesses around the globe.
Q4. Which ERP System Is Used For SMEs?
Ans. SAP Business One is a business management software designed for SMEs, i.e., Small and Medium-sized Enterprises. It provides absolute and incorporated tools for operating and managing finances, customer relationships, inventory, operations, finances, and sales.
Leave a comment
Your email address will not be published. Required fields are marked *