With rapid technological advancement, Singapore is home to many Multi-National Corporations (MNCs) and Small and Medium Enterprises (SMEs), given its reputation as a global business hub. The favourable tax system and the robust free-market economy are two of the many benefits that attract businesses to start their business in this small city-state.
However, setting up a business here is just the beginning. With Singapore evolving into a smart nation, many businesses are slowly migrating their company’s data and system management to cloud-based platforms to improve efficiency and stay competitive in the market. Here is how Cloud-Based ERP (Enterprise Resource Planning) providers like Zetta Solution, Odoo, and SAP can provide a secure and reliable system to support these needs and streamline operations.
What is a Cloud-Based ERP?
Firstly, let’s define what exactly is a Cloud-Based ERP (Enterprise Resource Planning). A Cloud-Based ERP is a software solution that integrates core business functions such as Inventory Management, Accounting, Point-of-Sale Systems, and more – into a single, unified platform accessible over the Internet.
Traditional on-premise ERP system, such as those offered by Oracle Database and SAP S/4 HANA require businesses to manage their own IT (Information Technology) or outsource to service providers. This often requires extensive training and ongoing maintenance to ensure that the system is up to date, which can be time-consuming and costly.
In contrast, Cloud-Based ERP, where the vendors manage the security, updates, and infrastructure ensures seamless access to the platform. Businesses will be able to benefit from gaining real-time access to critical data, streamlined processes, and scaling as the business grows. This will allow companies to focus on their core operations while enjoying enhanced productivity.
Let’s dive deeper into the benefits of implementing a Cloud-Based ERP:
Benefits of Implementing a Cloud-Based ERP
Unlimited Scalability
One of the key advantages of a cloud-based solution is Scalability - offering businesses the flexibility to adapt as they grow (or not). The system seamlessly allows you to add new functions and modules without disrupting your existing operations, making it convenient for businesses that intend to expand their business in the future.
Accessible Remotely
Be it smartphones or laptops, cloud computing systems allow you to access data from anywhere you are, with an internet connection. This significantly enhances employees’ collaborations with real-time updates - a key advantage as different industry starts to see a rise in remote workforce.
Customised Solutions and Experience
Customised solutions allow businesses to tailor the platform according to their unique needs. An e-commerce business can custom build a platform, integrating inventory management with personalised customer experiences, such as recommending products based on their browsing history and interest. With these data, it can streamline the entire shopping experience for customers, leading to an increase in customer satisfaction and better sales forecasting.
Secured System
Many businesses have concerns about security concerns when they adopt cloud systems, especially with the increasing number of data breaches that have been going on. Cloud providers such as Zetta Solution, treat clientele’s data carefully. All business transactions and sensitive data are always encrypted, and backups are always set in place as an additional layer of security.
Improve Accuracy and Productivity
When the system is tailored to meet the needs of a business, the need for manual entry can be automated. Without the need for manual data entry, employees prioritise and focus on more strategic tasks at hand and speed up operations, instead of being bogged down by administrative work, minimising mistakes and inaccuracy at the same time. According to a Salesforce survey, more than 89% of automation users’ experience have led to an increase in job satisfaction and 84% are more satisfied with their company.
Challenges of Implementing a Cloud-Based ERP
Monthly Subscription Fee
Despite having a lower initial cost of implementing a cloud-based ERP, most cloud ERP solutions are on a subscription basis, requiring monthly or annual payments. While these fees include support, maintenance, and upgrades, the cumulative cost may add up. As businesses grow and scale, the cost may increase for adding more users and features.
Resistance to Change
Especially for companies with many long-term employees who are accustomed to the old system and routine may find it challenging to change up their routine after many years. The additional effort required to re-learn a new system and attend training sessions may lead to resistance among employees.
Dependence on Internet Connectivity
For a cloud-based ERP system to function effectively, a stable and reliable internet connection is required. If an employee wishes to access the data at a location with an unstable internet connection, they may face difficulties accessing the data, which can impact productivity.
Data Security
Companies with sensitive data must ensure that their cloud ERP solution providers have robust security measures in place. Storing sensitive data with a third party can be fraught with risks if there is any data leak or breach, it can lead to reputational damage and financial loss.
Should Your Company Transition to a Cloud ERP System?
As cloud technology continues to evolve, businesses looking to stay competitive in Singapore should consider adopting cloud-based solutions providers such as Zetta Solution, Netsuite, Synergix Technologies, and more. These solution providers are key for companies who are looking to enhance efficiency and scalability through cloud solutions. The trend of cloud adoption in Singapore not only empowers businesses to remain agile but also prepares them to be future-ready in the ever-changing market.
However, selecting the right software provider is a critical decision that requires careful consideration. Businesses must evaluate their unique operational needs and long-term goals to ensure they choose a solution that aligns with their strategic vision. By taking the time to assess these factors, companies can make informed decisions that foster growth and innovation.
Talk To Us
Here at Zetta Solution, we specialise in providing cloud-based solutions tailored to meet your unique needs and requirements. Our services are designed to help your business thrive and grow in this competitive landscape.
If you’re looking for a cloud-based solution provider, you can contact us at sales@zetta-solution.com for a free demo! Let us help your business to unlock its potential as you tap onto our cloud-based solutions.
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