Enterprise and resource planning software is business management solutions that help you to integrate various applications of functioning in your company, therefore, to run and automate various backend operations of the companies. Today the ERP market is a global one with numerous ERP based software available. The ERP software integrates all aspects of company operations prom product development, palling manufacturing, marketing, sales, purchase, managing the service-based operations, human resource aspects, financial management of the company, and many more based on your requirement and the insight of an ERP.
Furthermore, the ERP solution will help you or automate the various reports based on the qualitative and quantitative aspects of company operations. On the contrary, other business management solutions will only allow you to generate reports on specified data and cannot be synchronized together. However, in the ERP software, you can merge and generate combined reports as it is customizable and provide you with the desired report requirements.
Now I'm not going into detail about ERP let's move on to our topic of description. The ERP solutions can be classified into cloud-based and non-cloud-based hosted solutions. Moreover, the cloud-based solutions will provide you with remote access to operations of business management. In addition, the price factor will be low as there is no physical equipment needed to store the data and manage the operations rather than the function is occurred by a subscription charge which is considerably lower than on-premise ERP implementation and management.
The global ERP market was described as a 35+ billion USD industry in the year 2018 which is projected to reach more than 75+ billion USD by the year 2026 however there may be certain speculations on the market due to the impact of the Covid 19 pandemic. Thanks to the cloud-based technology and its capabilities of operations many of the new implementations in ERP software are marching towards cloud-based solutions. Another statistic among the ERP market indicates that 95% percent of successful ERP implementations are operating the business of the users with 64 percent more business performance and 57 percent less capital investment into the operations. Although only 50 percent of the ERP implementations are successful as the process is challenging and involves various parameters and constraints to be managed and configured.
Considering the small and medium scale installations the cloud-based ERP solutions are more beneficial as the implementation financial aspects involved are much less compared to the non-cloud ones. Moreover, the remote access and manageability and the lack of headache on the server maintenance and software maintenance is an added advantage. In addition, these all aspects are described as much beneficial for small and medium-scale installations as they improve the company functionality with a minimal or cost-effective investment.
This blog will provide certain statistical insights into the aspects of cloud-based ERP solutions.
The innovations in cloud-based operational technology have disrupted the software operations in industries and have similarly affected the ERP market and its software. Moreover, as the cloud-based ERP solutions are more beneficial as well as overweighs in advantages of operation than it's not premise versions many installations are moving towards it. Moreover as mentioned earlier that the cloud-based solutions are affordable and provide ease in business management operations they also simplify the installation and set up also provide centralized business management that can also be operated remotely. Here are some statistical aspects of cloud-based ERP solutions that I pondered upon while researching it:
- Cloud-based ERP solutions are 30 percent more cost-efficient than on-premise hosting
- Today more than 70 percent of companies are running at least more than one software on a cloud-based platform moreover, can adapt to it recently.
- In addition, more than 55 percent of users or installations operating on a multi-cloud system indicated that the option of business of company management has increased and improved.
Moreover, multi-cloud is used over by more than 40 percent of companies today
- A study conducted on multi-cloud uses indicated that 40 percent of them agreed to the fact that disaster recovery and maintenance operations in the software are much more easier and efficient than in the on-premise ones.
Today most business organizations allocate 30 percent of their software-based budget to cloud base solutions as it is reliable, cost-efficient, and provides back the investment in no time.
- A survey on the decision-makers of the companies across the world for the IT aspects indicated that more than 50 percent of them agreed upon the facts that cloud-based ERP solutions are a priority and could be beneficial for installations.
- A study conducted globally on the companies operating with ERP solutions indicated that 64 percent of them function with SaaS, 21 percent of them use cloud-based ERP solutions and only less than 15 percent of them opted for on-premise hosting.
- A generalized study on ERP indicated that more than 50 percent of organizations are planning or willing to adapt to ERP solutions cloud-based ERPs for business management.
- Cloud-based ERP implementation can take less than 30 percent longer time than the on-premise ones.
- Most ERP implementation financial aspects will not be able to keep within the budget and will go up by three or four times higher than planned. However, provide you with cost-efficient business management solutions.
There are some of the certain cloud-based ERP statistics available. Although the cloud-based implementation can be a huge investment while weighing the advantages and its disadvantages statistically from the mentioned points it can concur that the cloud-based ERP software provides you with more benefits and the advantages of them overweigh the disadvantages in a business environment.
Now Odoo is one of the best cloud-based ERP solutions available which can also be hosted on-premise. The advanced business management software is a new generation one with capable features to run the entire company operations. You can contact us at info@cybrosys.com for Odoo implementation and its allocated service aspects.