In the past decade, a lot of businesses have switched to using cloud ERP technology, and in the next few years, even more businesses will find themselves switching to cloud ERP. A lot of people have a misconception of what the “Cloud” is. The Cloud is essentially a service or software, such as Intacct Cloud ERP, that runs using the internet and can be accessed via a web browser or via tablets and smart phones. Cloud ERP systems such as Intacct provide many benefits and advantages to smaller and medium sized businesses to help them compete against larger businesses.
In a sense, using cloud technology is similar to how businesses outsource accounting and payroll services. Businesses outsource these services and save money because they don’t have to spend as much on things like internal human resources, HR and Payroll software, and maintenance for these systems. Like outsourcing other services such as payroll, financial savings is one of the biggest reasons cloud ERP technology has become so popular. Instead of incurring internal costs for these services, businesses can leverage the service providers shared multi-tenant environment for cost savings.
Cloud ERP provides greater flexibility to businesses, because it allows employees to work from anywhere or on any device that has an internet connection. This is very beneficial to businesses who have multiple locations or employees spread out geographically. Intacct is a good example of cloud ERP technology that benefits businesses this way. Additionally, online cloud ERP services automatically update and back up data, which can save businesses a lot of trouble in the event of system downtime or a natural disaster. Cloud ERP providers invest heavily in security and provide a level of protection often unattainable by small and medium sized businesses.
Interested in cloud ERP? Contact us to learn more about how Intacct cloud ERP can benefit your business.