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How to choose the right Cloud ERP solution for your business

With so many ERP software to choose from, how do you know which is right? This guide will show you how to choose the cloud ERP software that best fits your business.
How to choose the right Cloud ERP solution for your business

Finding the Right Fit for Your Organization

Succeeding in today’s digital economy is a major challenge for companies relying on disconnected, legacy business solutions. A report by Mint Jutras, an independent research and advisory firm, says it is time to replace legacy ERP systems:

“If you are still hanging on to a legacy Enterprise Resource Planning (ERP) system that limits your ability to adapt and respond, there is now a real case to be made for replacing it. If you have added solutions piecemeal, with the assurance of integration that proved to be clumsy and far less seamless than promised, now is the time to course correct.”

The best course correction tactic is implementing a modern cloud ERP solution. But with so many ERP software to choose from, how do you know which is right?

Accessed over the internet, a cloud ERP solution brings a company’s separate systems together, under a single technology “umbrella.” Mission-critical and specialized applications (e.g., sales, financials, CRM, construction, eCommerce, marketing, operations, distribution, manufacturing, and more), as well as any desired/required third-party applications, are seamlessly integrated into a scalable, future-proof platform.

The benefits of operating from a centralized solution are many: streamlined, automated, and standardized business processes; a 360° view of the entire organization; increased collaboration; improved efficiency; and reduced IT costs. Cloud ERP solutions also give companies real-time access to their synchronized data from anywhere, at any time, via any web-enabled device.

Choosing to implement a cloud ERP system may be an easy decision, but pinpointing the right cloud ERP system for your organization is less straightforward. Company decision-makers must roll up their collective sleeves and invest time, energy, and resources into learning how to choose a cloud ERP system.

Your Business Requirements

Every business has unique requirements. You—with help from a cross-functional project team—must first understand those requirements before choosing the right cloud ERP system for your context. What are your specific challenges and pain points? Are you looking for general functionality (such as financials or CRM), or are you looking for industry-specific functionalities? Have you calculated the return on investment (ROI) to financially justify implementing a cloud ERP solution?

After answering these questions, you can move on to consider the functions and capabilities you expect from a cloud ERP system. For instance, do you require advanced features, fast implementation, high usability, competitive pricing, or comprehensive ERP vendor support? Prioritize these requirements according to the following categories.

  • Absolute
  • Highly desirable
  • Not needed now but important for the future
  • Not essential but nice to have

After organizing your requirements, shift gears and look at the importance of “personalization” when choosing the right cloud ERP system.

Bryan Papé
"Our technological journey has been a bit crazy and I imagine most startups go through this. We’ve been happy to land on Acumatica. It’s robust, it’s flexible, it’s simple but it also has an API so as you need to connect into it, there’s an ability for that as well. "
Bryan Papé, Founder and CEO
MiiR

Personalizing Your Solution

Before defining personalization, it’s critical to differentiate it from “configuration” and “customization.” Configuration ensures that an ERP system functions according to your environment (e.g., time zones, languages, currencies, etc.). Customization increases functionality based on specific business processes and integrates third-party applications. Personalization takes customization a step further.

Personalization is the difference between buying a suit off the rack and having one tailored to your measurements. The “off-the-rack” (or “out-of-the-box”) functionalities of many ERP solutions may meet your general business requirements. However, success in the digital economy requires a perfectly fitted cloud ERP solution, which must be molded to meet your unique business management needs—preferably through “low-code” or “no-code” capabilities. This means you won’t need to hire a programmer or developer to modify basic functionality or define relevant reports, KPIs, and charts.

Easily and affordably personalizing your ERP solution is crucial, but there is one more important point to consider in these uncertain times. Can the ERP provider you choose guarantee backup and disaster recovery?

Backups and Disaster Recovery

System failures, outages, and natural disasters are the nemeses of every business, whether it uses multiple legacy systems or a cloud ERP solution. However, cloud ERP solutions have advantages over legacy systems.

Legacy systems are no match for modern cybersecurity threats. Their software is old, and, if it is not updated regularly and/or is no longer supported by its developer (i.e., if it has reached its “end of life”), then it cannot protect the business against constantly emerging threats. On the other hand, cloud ERP software is built with modern technology that undergoes ongoing and automatic updates to protect businesses from security issues and disasters. Data is stored in multiple data centers, and backup and recovery procedures are consistently maintained.

As you research the right cloud ERP system for you, keep in mind that the ERP vendor must be able to credibly show its disaster recovery and mitigation capabilities. It should also ensure consistent up-time and business continuity, regardless of external circumstances.

How Acumatica Can Help

G2, the world’s leading business software review platform, compiled ERP statistics and found that the “global ERP software market is projected to reach $78.4 billion by 2026.” G2 also found that “88% of organizations consider their ERP implementation helped them to succeed.” It’s not surprising that “how to choose a cloud ERP system” is a common search query for businesses.

As you join the many companies looking to embrace the benefits of a cloud ERP solution, do your ERP research. During this ERP evaluation, you should consider Acumatica Cloud ERP.

Acumatica was born in the cloud, is committed to putting customers and innovation first, and is the fastest-growing cloud ERP company on the market today. Our cloud ERP software transforms businesses through leading-edge technology and best-in-class functionality. Acumatica delivers a 99.996% uptime, maintains disaster recovery and business continuity plans, and can be personalized to fit the needs of your business. It offers a full suite of integrated business management applications—including CRM, Financials, Field Service, Project Accounting, Inventory Management, and more. It also boasts various industry-specific solutions, including Construction, Distribution, Retail-Commerce, and Manufacturing. Scalable, easy-to-use, and award-winning, Acumatica is the cloud ERP solution designed to suit small and midmarket organizations in every industry.

To learn more about making an ERP selection and thriving in the digital economy, contact our team today.

See what’s possible when you have a future-proof ERP platform that truly puts customers first.

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