In the post-pandemic scenario, businesses are found to be forced to adopt digital transformation such as cloud migration plans since it provides various options to increase ROI (return of investment) from cloud ERP implementation in the age of crisis.
But implementing cloud ERP isn’t just only forwarding all business processes into the cloud, there’re a lot more challenges that are packed with continuous reinventions of new techniques and strategies.
Almost every organization across all industries is looking for enterprise-ready cloud-based technology such as cloud ERP in terms of surviving in the post-pandemic era. The sudden huge demand for Cloud ERP solutions has increased the risk of inefficient cloud development and challenges associated with the implementation of the application as well.
Nearly all ways to increase ROI from cloud ERP implementation are directly intertwined with some kind of challenges. What are they? Let’s unveil.
Options to increase ROI from cloud ERP implementation
- Figure out your unique business requirements linked with your cloud ERP solution
- Choose only a cloud ERP solution that matches your future scalability
- Check vendor team’s expertise and experience level
- Be clear about the support cycle of the vendor as well as the software company
- Emphasize the security protocol
- Try to reduce costs
- Leverage machine learning
- Try social collaboration
- Consider using AI chatbots
- Final words
Figure out your unique business requirements linked with the cloud ERP solution
The first and foremost step you’ll need to take is to be clear what are your business requirements and what exactly you want to achieve in a certain specific time frame. These requirements and business goals should be documented properly.
Choose only a cloud ERP solution that matches your future scalability
Next, you’ll need to clarify whether the standard implementation of your cloud ERP solution has the ability as well as features to fulfill all your business requirements and goals. This is the most important decision you’ll need to take ever in your business process.
Scalability doesn’t always mean only scaling up, it also covers scaling down in certain conditions as we saw in the pandemic conditions. It’s not unnatural that a company can experience unexpected outgrow as well as break down within a few years of implementation. Installing new ERP solutions after every few years doesn’t make any sense as it severely affects the budget and business processes.
Therefore, you’ll have to choose only cloud ERP solutions that can ensure compatibility with your upcoming ups and downs in the coming future efficiently.
Check vendor team’s expertise and experience level
When it comes to increasing ROI from cloud ERP implementation, you should definitely consider checking the expertise and experience level of your cloud ERP vendor. The more experience and competence your vendor’s team will have, the better support you would get whenever you require it.
Be clear about the support cycle from the vendor as well as the software company
You’ll need to be clear about the support cycle during the implementation of your cloud ERP especially when you’ll experience any upheap circumstances. Ask your vendor to provide detailed information regarding every possible issue and expected solution in a predicted and written manner.
Emphasize the security protocol
You should have a clear idea of which cloud you’re going to adopt and what its security protocol is. You’ll also need to check with your cloud ERP vendor what will be their data backup process and support system if you find any security breach.
Try to reduce the costs
You can reduce your costs by implementing cloud ERP properly. It gives you the opportunity to minimize the costs of materials, labor, regulatory compliances, and administration and thus can maximize your ROI.
Leverage machine learning
You can enable your cloud ERP to streamline real-time data and self learn as well as self respond to associated requirements by integrating machine learning in an automatic manner. Machine learning will help you access enterprise data more efficiently so that you can make informed decisions easily.
Try social collaboration
In today’s virtual world, you can easily leverage the feature of social collaboration in your cloud ERP by creating secure boardrooms where you can exchange your thoughts with other experts. Therefore, you’ll have more ideas how your competitors are doing better and increasing their ROIs from cloud ERP implementation.
Consider using AI chatbots
AI chatbots are highly helpful to track insights of your target audience in a better and quicker manner. Once you figure out your customers’ basic requirements, it’ll definitely give you a lot more options to increase your ROI from cloud ERP implementation.
These are some common options to increase ROI from a cloud ERP implementation but aren’t limited to. When you apply your cloud ERP solution with a proper business strategy and integrate with every possible cutting-edge technology, you’ll find countless options to increase ROI from cloud ERP implementation in your business.
Megatherm ERP is one of the best cloud ERP solution providers in India. If you need any hands-on support to increase your ROI from cloud ERP implementation, kindly contact our support team, we’re always ready to help you.