Accounting Software: Is Cloud ERP Right for Your SMB?

If you are looking for QuickBooks online alternatives and think the best direction for your business may be Cloud ERP, you just may be right. Enterprise Resource Planning (ERP) solutions that deliver cloud-based functionality are ideal for small to mid-sized businesses looking to better automate and organize management processes – including financial management.

In fact, cloud-based ERP is an escalating trend. According to Gartner, a leading information technology research and advisory company, by 2018 at least 30 percent of service-centric companies will move the majority of their ERP applications to the cloud. The concept of a single ERP suite that meets all of an enterprise’s needs is incrementally being replaced by a hybrid ERP approach that combines cloud point solutions with on-premises ERP functions – like financial management.

Gartner predicts these hybrid ERP environments will be the norm within five years – as more and more small to mid-sized businesses take cloud ERP mainstream. Longer term, over the next 10 years and more, Gartner envisions a scenario where more of the market converts to the cloud.

Today, many enterprises of all sizes have already moved key elements of application functionality to the cloud, including accounting processes. Who are these cloud adopters? In some cases, they are companies that have outgrown QuickBooks and turned to QuickBooks online alternatives for better control, tracking and governance over their financial management.

Why Cloud ERP? There are many reasons small and medium-sized businesses, specifically, should turn to cloud ERP to leverage an effective QuickBooks alternative.

Real-Time Productivity Gains: By automating key accounting processes and breaking away from the elements of QuickBooks that present time-consuming manual tasks, businesses streamline financial and operational tracking and management – eliminating wasted time, human errors and the dreaded reality of duplication.

Real-Time Visibility, Too! With cloud-based ERP solutions, business leaders and financial managers can view real-time data to delve into financial and operational performance. This level of real-time data scrutiny and sophistication presents 24/7 overview for enterprises – keeping businesses more informed than ever as accounting information is literally at their fingertips thanks to any mobile device.

Real-Time Cash Flow: Did you know a recent study shows that business owners who invoice and accept online payments through cloud accounting tools get paid nearly two weeks faster? Automating invoicing improves cash flow and saves time by eliminating the need to follow up on overdue invoices. Cloud-ERP solutions provide simple, easy, on-the-go financial management tools with 24/7 access – and the ability to reach your customers wherever they are to keep payments on schedule.

24/7 Collaboration: With cloud-based ERP solutions delivering financial management 24/7, the traditional and time-delayed back-and-forth document pushing and file sharing between colleagues during an average business day is no more. With financial management tools in the cloud, accounting professionals and financial management team members can collaborate on financial reports in real time and review up-to-date data. Plus, with cloud-accounting, small business owners still holding the reigns over all accounting tasks can get organized and stay organized 24/7 – giving them more time to run their businesses.