No matter what business are you in, you must have heard about how’s cloud going to take over the world. As the pervasiveness of technologies is emerging like never before, getting businesses into digital has become the vital indicator of a tech-savvy government. Singapore has been establishing and keeping their digital agenda to help businesses to grow the pace of digital transformation through solid backing and support for the island nation but there is still some distance for business in Singapore to ‘go digital’.
The level of digital transformation in Singapore would not have been possible without the push of governments in establishing an area of the grant support programme. The Enterprise Singapore provides Enterprise Development Grant (EDG) to help the business to build stronger capabilities and improve operations during the transformation journey by providing up to 70% funding support of qualifying projects. Here
The topic of digitisation should not remain a recurring conversation but action must be taken by businesses. In order to thrive in this ever-changing disruptive environment, businesses not only responsible for managing with the IT professionals, but also for increasing business growth by embracing digital technologies. Cloud technologies is beyond its day for something to fear in fact business should adopt it as it could provide the companies the unprecedented flexibility: quick response to opportunities and scales up fast to meet variable customer demands.
Since the day of cloud has been brought into the spotlight, the misconception about its nature and utility have altogether obscured its own application. As a matter of fact, it often becomes a top barrier for companies when considering cloud-based ERP adoption. I think it’s important to dispel its myth so that businesses able to reap maximum benefits from it.
Myth 1: Cloud ERP isn’t secure in hosting data
While information security is the biggest concern for every business, companies often feeling uncomfortable about keeping their data off-premise but it actually turns out to be more secure than on-premise data centres. The data is maintained and secured with advanced encryptions, periodic audits and penetration testing for regulatory compliance through the experts of security teams. Besides managing the security breaches, it also transfers the burden of keeping and managing the system up to date to the vendor.
Furthermore, having data stored virtually is an innovative back-up plan. When it is no longer connected to your office devices, it cannot be harmed by any physical disasters or emergencies that occur in your business premises. For example, if there’s an outage in your workplace, it could simply cause a loss of data.
The lost control over the data of an organization was the major reason of data loss in the past but now with the emergence of cloud, the concern has been erased as business holds total control of their data.
Myth 2: Cloud ERP solutions is costly
Many believe that the cost of upgrading an entire system to the cloud is more expensive than sticking to the on-premise ERP. However, it is not true. Although, moving to the cloud may cost you some upfront costs such as installation and migration but in the long run it actually saves you a lot of money. Business that adopts cloud-based ERP tend to reduce its IT cost as there are no hardware, software, and licensing fee to maintain. And the updates will be taken care of by the ERP vendors. More specifically, the infrastructure that you used is managed and purchased by the vendors, it means that you are sharing resources without making any purchases for that. Moreover, most of the providers offer a pay-as-you-go model with greater scalability. You just need to pay based on your usage.
The subscription-based model makes it much more practical especially for small business as it doesn’t require a huge capital expenditure meanwhile leveraging instant access to resource without high-cost investment. The flexibility of the cloud to scale is one of the biggest benefits for most businesses.
Myth 3: Moving from on-premise to the cloud is complex
In the past, when cloud technologies weren’t that developed and refined, many companies were afraid to invest as they need to figure out the implementation by their own. However, with the rapid emergence of new technologies, it makes the process simpler. With the assistance of expertise, companies no longer have to go it alone.
Migrating to the cloud doesn’t have to be scary and uncertain. Whether you need to enhance data security, reduce costs, boost productivity, backup or all of above, cloud-based ERP is the answer. One thing to highlight – the cloud is not a fad, it’s already coming of age, and businesses need to decide whether they are going to keep pace with these changes or left behind.
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