As the global market experiences inflation, it is vital to identify how your company can optimise cost and remain profitable in the long run. Integrating advanced technology, such as cloud ERP solutions, is super beneficial for all types of businesses. These systems enable increased collaboration, reduce downtime and improve the overall operational efficiency of the company. Additionally, there are also several financial advantages of cloud ERPs. This article reveals how SaaS solutions help save costs.

What is a Cloud ERP Solution?

A cloud-based ERP is a business management solution that is accessible over the Internet. It is not installed on the on-premise systems; instead, it is hosted on the vendor’s server. These highly scalable and flexible solutions are also known as SaaS solutions or software as a service. Cloud ERPs smoothly integrate with different solutions, give real-time data access and automate business processes.

Eight Ways Cloud ERP Solutions Help Businesses Save Money

There are several benefits of adopting cloud solutions, and directly or indirectly, each leads to proper cost-saving measures. Hence, they are perfect for small and mid-sized businesses with bootstrapped budgets. Here is how you can save money by implementing cloud-based ERPs.

No Upfront Investment

In the case of on-premise solutions, you need to pay a huge upfront cost for deploying the software in the systems. However, cloud solutions require no such commitments. Like many popular cloud solutions, Odoo Cloud also follows a monthly subscription plan. Therefore, businesses save on hefty initial investments. They can also choose to continue or discontinue the subscription, depending on the company’s requirements.

Zero Hardware/Server Purchase Maintenance Cost

Cloud ERPs are accessible over the Internet and do not have to be deployed on-premise. All you need is a device and a stable internet connection to access the cloud-based ERP system and all crucial data stored in it from anywhere at any time. So you do not have to buy new hardware and or spend money on servers. Sometimes, companies have to replace most of their existing system to accommodate the new business management tool. Intelligent cloud ERPs do not require these arrangements. Moreover, you save on maintenance and upgrade costs. The upgrades are handled by a team of specialists, and the software updates are a part of the service. Hence, you do not have to pay extra charges.

Reduced Downtime

Deploying on-premise systems is time-consuming, and typically, it disrupts the workflow for a while. Downtime has a direct impact on business and customer satisfaction. On the other hand, cloud-ERP solutions boast quicker implementation time, i.e., the system gets ready in no time, and it is up and running within a few hours. It barely disturbs routine tasks. Companies seldom face downtime and revenue loss due to missed opportunities.

Better Disaster Recovery

Cloud ERP systems take better backups of all data. In the event of a server failure or any other disaster, no data is lost. All information can be quickly retrieved. In a world where data is a vital asset, companies value the capabilities of the cloud. Data backup and disaster recovery also prevent financial loss, and companies do not have to pay extra to get back their data.

Lesser Labour Cost

Cloud ERPs streamline and automate several workflows. It also reduces manual tasks and eliminates redundant roles. Therefore, companies can operate with a smaller workforce and save on labour costs. However, one must remember that although cloud solutions replace a few employees, they also generate new job opportunities that require higher levels of efficiency.

Increased Operational Efficiency

Since cloud-based solutions diminish manual tasks and automate processes, they increase efficiency in the organisation. First, the chances of errors are dramatically lessened. Therefore, repetition reduces. Next, cloud ERP solutions free up the team from mundane jobs so they can focus on more productive activities that are crucial for business growth. It enables employees to participate in developing strategies and revenue-generation plans.

Supports Scalability and Flexibility

As the business grows and new members join the team, the business management tool should be able to expand. If the system is on-premise, the company has to buy new hardware to accommodate the growth. It is a cost-intensive approach. However, with smart cloud-based solutions, you can scale up or down without any restrictions, wastage or additional investment. The pricing is also flexible, and you have to pay for only those features that your team uses.

Enables Customisations

Although cloud systems are packed with high-level functionalities, some companies need unique modules. Such capabilities are tailor-made and separately deployed in the system. Sometimes, organisations need specific features as tasks become more complex. Unfortunately, ERP customisation is a costly affair. But, with cloud ERP solutions, you can enjoy bespoke business management tools at lower costs. ERP professionals can add or remove modules without altering the original code of the solution. Additionally, cloud ERPs do not have to be re-implemented after customisation. The changes are quickly implemented, and the system is ready to use within a few hours.

Modern companies value flexibility and scalability in their business management tools. However, spending a fortune on advancing the solution is not a plausible choice for many. Cloud ERP solutions let businesses enjoy all the new-age technicalities without burning a hole in their pockets. But how can small and mid-sized businesses truly get the benefits of a cloud solution? The answer is proper cloud implementation that supports the company’s immediate and future goals.

You May Also Like to Read: Cloud ERP Technology: Pioneering the Future of Business Operations

How does Silver Touch Technologies Enable you to Optimise Cost?

Cloud ERP has a pivotal role in digital transformation as companies gear up to leverage the power of technology and accelerate growth. However, migrating to the cloud can be a tricky process, especially if it involves data transfer and other complex tasks. The cloud ERP implementation must be in good hands if you are really looking to save money and cut back on expenses.

Certified Odoo Cloud ERP professionals and implementation partners at Silver Touch Technologies are your go-to guys for all Odoo cloud-related queries. We comprehend your business needs and align the cloud solution with your goals. From customisation to integration and deployment, Silver Touch offers 360-degree services at affordable rates. We understand that cloud ERP solutions are for everyone, and so are our prices. Are you ready to move to robust Odoo Cloud ERP? Contact us today!