A number of studies have revealed that old ERP systems were not designed to deliver usability and provide organizational insights. In fact, the majority of business leaders say that their current ERP systems don’t fulfill their requirements.
It doesn’t matter what the touchpoints in an organization are when it comes to modern ERP systems, it does cater to business requirements and aims to solve major organizational challenges, particularly when enterprises consider moving from legacy ERP systems to modern ERP systems on cloud platforms.
How do you differentiate today’s modern ERP with a legacy system? There are 7 distinct characteristics that define a cloud-based ERP system:
#1 Today’s ERP ensures data security by providing a combination of resource pooling and elasticity and having the data set up in an isolated environment.
#2 Modern ERP systems can be easily and seamlessly integrated with other applications. These applications can be either in the cloud or on-premise.
#3 More than customizations, today’s ERP systems must deliver a personalized experience to enterprises keeping in mind future updates and upgrades.
#4 ERP systems are designed to implement industry best practices, which brings about tremendous cost reduction and enhances operational productivity.
#5 A truly modern ERP system allows enterprises to work in a cohesive and collaborative manner across multiple business units, branch offices, and global teams.
#6 Today’s ERP systems are meant to provide valuable and real-time organizational insights that empower leadership teams to make meaningful and informed decisions.
#7 A key component of an ERP system is to be digitally capable of delivering experiences to customers which can be easily observed in a modern cloud-based system.
To gain further insights on how these ERP characteristics can be leveraged in selecting the right system for your enterprise, click the link below for more information.