6 Benefits of Cloud ERP for Manufacturers
By Paula Yarwood, Solutions Architect at Inforlogic
The national and international headwinds facing manufacturers in 2023 show few signs of abating. Brexit, the pandemic, the war in Ukraine, and last year’s mini-budget have all put pressure on the industry’s labour and supply chain challenges.
In response, digitalisation is proving pivotal to effectively navigating this new environment, mitigating risk, and driving profitable growth. According to Deloitte’s 2023 manufacturing outlook, the sector as a whole must continue to ensure that digital investment supports current concerns related to inflation and economic uncertainty, including holistic and smart factory initiatives.
Against this backdrop, selecting a modern, cloud-based ERP platform is key. Those who adopt the right platform are more agile, flexible, and efficient, which, in turn, puts them in a much stronger position to build better customer relationships and expand market share. But in building a business case for investment, the devil is in the details.
So, what are the specific advantages of a modern, cloud ERP?
6 Benefits of the Cloud
Industry-Specificity
Every industry is different, and managing the complexities of an engineer-to-order environment versus, say, a food-processing model, whilst still within the same realm, is worlds apart. Ensuring that ERP supports the specific needs and nuances of a given vertical used to mean compromising on scale and support. The best cloud-based ERP platforms now feature out-of-the-box capabilities, including last-mile functionality and proven best practices, designed to run your business the way you need it to. Crucially, these not only maximise adoption but also deliver the necessary flexibility, data-driven decision-making, and security to drive growth.
Continuous Improvement Culture
Because all data is located centrally, from stock quantity levels, production schedules, quality control checks and workflow, a deeper understanding of all aspects of your business can be achieved. In turn, this allows performance to be analysed and managed in real-time. This not only allows finance teams to stay one step ahead of issues or exceptions, but also gives the executive team insights to focus on implementing strategies that drive operational improvements.
Agility
The only real way to mitigate the many challenges at play is to respond to them faster and with greater levels of insight than your competitors. A modern cloud-based ERP delivers the in-depth 360-degree visibility from which to quickly respond to customer, supplier, and regulatory needs.
Scale
When expanding, launching new operations, or diversifying into new areas, a cloud-based ERP platform allows you to seamlessly extend capabilities and easily bring new entities or operations on board. With no need to deploy new on-site infrastructure, where any change can be slow and complicated to achieve, resources can focus on strategy rather than the back office.
Innovation
Innovation is the lifeblood of economic success, and as consumers demand ever more, ever faster, it has never been more important to ensure that an innovation culture is embedded in today’s modern manufacturer’s strategy. Cloud-based ERP provides a foundation for pivoting, adjusting resource allocation, and developing new ideas.
Rapid Deployment & Automatic Updates
Cloud-based ERP is faster to implement than traditional systems, expediting time to value and improving performance quickly. And because the software is continuously updated with world-class security and protection, operating costs are fixed, allowing greater planning and predictability.
The Right Business Foundation
Every cloud-based ERP has its respective merits and shortfalls. However, the best systems will provide the scale, agility, and industry-specificity needed to run your business optimally, and deliver seamless updates to reduce your IT footprint and associated maintenance.
By working with an experienced partner, you can ensure you lay the right foundations to navigate a constantly evolving economic landscape and build market share in the years ahead.
Contact us today for more information on how Inforlogic can help you to put digital first with Infor CloudSuite Industrial.
Whether you’re looking to implement a new ERP system or need some support with your existing SyteLine solution, get in touch or call the team on 01606 720499.
