By Anushree Bhattacharya - January 23, 2023 4 Mins Read
The modern ERP (Enterprise Resource Planning) system needs to be implemented in the new business planning. CIOs looking to know the innovations in ERP platforms to suit their new, evolved needs.
ERP selection can be complicated among CIOs as the ‘why’ behind it is often misconceived. The ERP system that CIOs invest in will be the platform with multiple functions coherent with the organization’s goals under a unified roof.
In the scope of selecting an ERP, investing in a cloud-based ERP system will be a significant strategic investment for CIOs. A cloud-based ERP system brings access to computing power, scalability, cost-friendly, and more. All in all, it aims to provide organizations with a more agile environment in planning resources at scale.
With modern cloud-based ERP systems, CIO can find the answer ‘why’ to implement them. Keeping the functionality factor at top of minds, CIOs must consider other vital considerations in ERP selection.
As a CIO, making better decisions about ERP investments is a priority now.
The current business requirements shouldn’t be the sole aspect of deciding to invest in an ERP system. Instead, considering features based on which a business plans to grow, and adopt advancements in the future, should be the base of this decision.
The most important aspect that a CIO should consider, is to install a flexible and scalable ERP system that serves the emerging modern technical elements as a business grows. If there are excessive limitations to customizing the current system, then it’s time to invest in the cloud version. A scalable ERP system provides insights into data-driven resources that align with business objectives and meet the goals for the year, because investing in ERP agility is going to be future-proofing a business.
Cloud ERP solutions are now mobile-supportive Mobile and web applications for cloud ERP improve accessibility to real-time information and strengthen business communications with improved response timings.
With the advent of the bring-your-own-device (BYOD) workplace, CIOs access workflows and data using personal devices. Dashboard provisions assists CIOs in checking the ongoing workflows, processes, and expenditures in data form and storing data, thus avoiding prolonged interruption.
CIOs used to get access to basic reporting details so far by using conventional ERP systems. Such systems weren’t equipped with core data analysis. However, with cloud ERP systems, CIOs get in-depth data through advanced analytics coded inside providing the exact counts and details when tapped. Also, the new systems are well-versed in visualization in the form of graphics conceptualized with AI.
Oracle’s findings in one of its eBooks on ERP systems ‘Complete Guide to Modern ERP’ mentions that cloud ERP drives 60% more improved efficiency in business operations.
A modern cloud ERP system must seamlessly integrate with the existing business processes, and operations. A robust integration module can make the CIOs’ responsibility to shift or connect with the existing ERP to promote more functionalities, multiple task holdings, and building strategy more simplified. They can easily align the entire business process and optimize all department’s functionalities within a shorter timeframe.
A robust integration capability of modern ERP systems delivers massive flexibility into insights such as data, detailed information about employees, expenditures, department process flows, and other big/small aspects of a business.
Modern ERP systems are equipped to handle upgrades and advancements. In simple words, the new systems are adaptive to being future ready, as per the requirements of the inevitable digital transformations.
CIOs who opt for upgraded ERP systems will not need expensive upgrades regularly, because they are already enriched with continuous update functionality and deployed with new features.
A modern, cloud-native, and cohesive software-as-a-service model ERP system provides high-security measures for data management and accessibility. The systems are becoming one-point solutions for CIOs controlling the entire business operations; it becomes obligatory to secure access with the help of multilayers and authentication to get into the system. Though the systems are built with limited access to employees besides stakeholders; this feature ensures that CIOs can trust the system’s usability.
All in all, every confidential information gets stored in the cloud ERP system, thus minimizing threats, breaches, and other security risks.
Anushree is a veteran writer with eight years of experience in writing for multiple domains. She is working as Senior Editor with OnDot Media. She aspires to become a seasoned editor and a book author in the future.
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