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As businesses continue to adopt new technologies to keep pace with fluid consumer and market demands, internal infrastructures have to be flexible to remain competitive. Traditional business intelligence tools – albeit effective – are making way for more cutting-edge systems such as software-as-a-service and other cloud-based modules that enable companies to move with the ebb and flow of industry demands.
Since enterprise resource planning software is essential to most businesses, the need to stay up-to-date is highly important. These systems are the backbone of most manufacturers and track a product's lifecycle from beginning to end, making ERP a vital resource in output growth and management. As a result, most – if not all – employees need access to an enterprise's business intelligence software to effectively move product or services to the customer. A cloud-based system leverages flexibility and storage capacity with the ability to effectively manage the multistep process of product delivery within an organization.
A smaller operation may be able to handle the ordering of raw materials, product creation, warehouse inventory, order tracking and accounts receivables in separate manners, but even then, an order can get lost or data can slip through the cracks, costing the company both time and money. Conversely, cloud-based ERP systems are essential for larger enterprises because there is typically too much going on at once and with a large number of employees involved, big firms need a streamlined module to keep everything in order, argues industry website CloudTweaks. In following suit with industry trends, ERP software is constantly updating to increase business flexibility while saving time and money for its customers.
The need for small-to mid-sized businesses to drop their current inventory management systems and implement a full-scale software overhaul is not immediate, but to effectively meet fluid market demands, companies should be looking toward the future and begin integrating cloud-based hardware at a rate that is comfortable for them. Understandably, some enterprises are tentative in implementing new software, especially if their current modules have been customized to their needs. However, as Tech Republic aptly points out, businesses may begin to adapt as costs continue to rise for maintenance on custom-built code and software for their current model. Hidden costs are less of a concern with cloud-based systems since the updates and repairs are left to the provider itself.
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