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Cloud and collaboration: The future of ERP
8 November 2020  |  By Hiend Software Pte. Ltd.
ERP systems have enabled companies to manage internal data and organisation more effectively, but what's next for external growth? Cloud computing solutions offer versatile options for outward-looking businesses.
What's next for ERP? Millions of companies around the globe have invested in Enterprise Resource Planning or ERP software, enabling them to drive business forward with greater cohesiveness and organisation. But ERP falls short in other regards where partnerships and external companies are involved.

If you have an ERP system, you've probably already heard all about the cloud, which offers new solutions for ERP processes, add-ons, data storage, and more. Moving your system to the cloud can free up computing "space" and money to enhance your ERP in new ways. But what's the best approach for businesses looking to move their ERP to the cloud? Read on for some of the most powerful ways to leverage the approaches you're already using while also taking advantage of new tools and software.

1. Bring your weak link up to speed in the cloud
One of the weak links in the chain of Enterprise Resource Planning models has always been the elements of the business that don't go through ERP systems. Phone calls, fax, email, and custom portals for communicating with customers and partners slow down day-to-day business processes.

By transitioning these kinds of communications into the cloud, it's possible to save time and automate many of the functions that used to create lag time. By sharing with partners, customers, and suppliers through cloud-based supply chain applications, you can turn your weakest link into your biggest strength.

2. Achieve effortless financial collaboration
Where cost negotiations with suppliers and customers used to require several rounds of paperwork and lengthy email or telephone discussions, the cloud now allows financial transactions - and discussion of their terms and details - to be conducted instantly and effortlessly online. Invoices and other documentation can be sent electronically, while payments and discounts are processed the minute they are remitted.

3. Make connections
ERP systems facilitate communication and business transactions, but they don't do much to connect businesses and customers. The cloud does, with new and evolving systems that enable consumers to find the products and services they need online. If you aren't using the cloud for marketing, you're losing out on countless volumes of potential business.

Enterprise Resource Planning has been the big kid on the block for the past two decades, but ERP software alone isn't enough to make businesses competitive in today's fierce market. The cloud offers platforms and strategies that work seamlessly with ERP software, enabling companies to do more than just streamline processes and facilitate internal communication.

Motivated businesses are looking to the cloud for ways to connect with buyers and sellers, improve their external efficiency, and leverage more powerful marketing avenues. Are you ready to try something new?

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