By most accounts, spending on cloud computing will grow over the next decade. One estimate holds that cloud-specific budgets will grow six times faster than other tech spending through 2020.
For most companies, the big question is not if but when they will adopt cloud computing for the bulk of their IT operations, including the enterprise resource planning (ERP) software they use to manage inventory and product manufacturing.
Applications don’t get much more mission critical than that, and up until recently conventional wisdom was that fear of change would keep ERP Software applications running on premises and not in the cloud.
That thinking has shifted of late.
Cloud ERP eases financial reporting
One driver is that CFOs love the idea that cloud ERP such as ERPNext, empowered by artificial intelligence (AI) technologies like machine learning, can automate routine financial management jobs, and cut dependence on custom reports.
If all the required information is in a cloud, the need to integrate several data “silos” is less than in traditional ERP scenarios.
Cloud ERP Systems also enables financial types to get faster reports. Finance staff wanting to go from monthly to weekly to daily reports. Cloud ERP deployment enables all that and eliminates the need to wrangle multiple spreadsheets.
Regulatory compliance is another, related, factor pushing ERP to the cloud
The compliance world is increasing, “All of that has to be automated. And AI-driven reporting dramatically cuts the time and resources needed to meet compliance requirements.
CIOs should care about what CFOs want because many of their concerns – on security, on compliance—overlap.
Risk management is yet another top priority for CFOs . AI-driven ERP Software can help corporate leadership determine what a company’s risk is in a given scenario as well as what its appetite for risk is. And then, the system would recommend a best course of action taking those factors into consideration.
Cloud infrastructure such as ERPNext provides businesses with the most modern and efficient way to run their important software applications.
AI plus ERP makes a winning combo
Businesses that opt for cloud over on-premises deployment are able to tap into lower cost computing power at any given time. The fact that cloud software gets regular automatic updates is another benefit.
Cloud-based ERP systems can also use machine learning to help customers not only run their existing operations more efficiently, but potentially also identify “next best actions,”
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