Cloud ERP Software – The cloud-based ERP software is a popular choice for business owners who are looking to invest in a company’s infrastructure. ERP cloud-based can provide businesses with more flexibility when adapting their software. It’s a fact that the cost of using this type of software is much lower than traditional, on-premise models.
The type of ERP chosen is important because it will affect how the company invests its money. This article will present the finest cloud ERP software options on the market today. You should be able to find the best cloud ERP in Singapore that fits your company’s needs and preferences.
Table of Content
- What is Cloud ERP Software?
- Cloud ERP Software vs On-Premise ERP
- How Does Cloud ERP Works for Your Company?
- How to Choose the Best Cloud ERP for My Business?
- Is Cloud ERP Safe for My Business?
- HashMicro
- Acumatica
- Method: CRM
- NetSuite
- Tipalti
- Conclusion
What is Cloud ERP Software?
Cloud ERP is an enterprise resource planning (ERP) system that runs on a vendor’s cloud platform rather than an on-premises network, allowing organizations to access it over the internet. Cloud-based ERP integrates and automates financial and essential operational business functions and provides a single source of data, including inventory, order, and supply chain management, and helps with procurement, production, distribution, and fulfillment.
Cloud-based computing gives users access to software applications that run on shared computing resources. Cloud ERP frequently offers significantly lower initial costs because computing resources are leased by the month rather than purchased outright and managed on-premises. When a business expands or a new company is added, it may quickly scale up its business productivity software with the correct cloud provider.
Also read: Decision Support System Helps Company Problem Solving
Cloud ERP Software vs On-Premise ERP
Cloud ERP (Enterprise Resource Planning) and On-Premise ERP are two different deployment models for enterprise software. Here are some differences between the two:
- Deployment: On-Premise ERP is deployed on local servers and managed by the in-house IT team. Cloud ERP is hosted on the cloud and managed by the vendor.
- Cost: On-Premise ERP requires significant upfront costs for hardware, installation, and ongoing maintenance. Cloud-based ERP is typically paid for through a subscription model, which can be more cost-effective for small to medium-sized businesses.
- Accessibility: Cloud ERP is accessible from anywhere with an internet connection, while On-Premise ERP is only accessible within the company’s local network.
- Customization: You can customize on-Premise ERP to meet specific business requirements. Cloud-based ERP also offers customization options, but they may be more limited due to the multi-tenant nature of cloud-based systems.
- Upgrades: On-Premise ERP requires manual upgrades and updates, which can be time-consuming and expensive. Vendors update the Cloud ERP automatically, ensuring that businesses always have access to the latest features and security updates.
Overall, the choice between Cloud ERP and On-Premise ERP, or even, hybrid ERP depends on a company’s specific needs and resources. Cloud-based ERP is generally more cost-effective and offers more flexibility, while On-Premise ERP provides more control over customization and data security.
How Does Cloud-Based ERP Work for Your Company?
Cloud-based ERP works by providing a platform that enables businesses to access and manage their ERP systems over the Internet. In a traditional ERP system, the software and data are stored on servers located on-premises.
In contrast, with ERP Cloud, the software and data are stored on remote servers that can be accessed from anywhere with an internet connection. Here are the basic steps about how ERP cloud-based works:
- Cloud Deployment: The cloud ERP software is installed on servers that are hosted by the vendor or a third-party cloud provider. The vendor or provider is responsible for the infrastructure, maintenance, and security of the servers.
- User Access: Users can access the cloud-based ERP system through a web browser or mobile app, using their credentials to log in.
- Data Management: The ERP Cloud system manages data for various business processes, such as finance, human resources, supply chain management, and customer relationship management. Users can access and manage data from any location with an internet connection.
- Customization: Cloud-based ERP systems offer a range of customization options to tailor the software to the specific needs of the business. This includes creating custom workflows, reports, and dashboards.
- Integration: ERP Cloud systems can integrate with other cloud-based or on-premises software systems, such as customer relationship management (CRM) software or e-commerce platforms, to provide a seamless flow of data and streamline business processes.
- Upgrades and Maintenance: The Cloud-based ERP software vendor or provider is responsible for maintaining the system and releasing upgrades to ensure that the software is up to date with the latest features and security patches.
Overall, ERP Cloud offers a flexible and scalable solution for managing business operations, with the added benefits of accessibility, scalability, and reduced infrastructure costs.
Also read: Production Software in ERP Systems for Manufacturing Industry
How to Choose the Best Cloud-Based ERP for My Business?
Choosing the best Cloud ERP in Singapore for your business can be a complex process, as there are many factors to consider. Here are some key steps to follow to help you make an informed decision:
Identify your business requirements
Start by identifying your business requirements and objectives, including the specific processes and functions that you need to manage with the cloud-based ERP system. This can include financial management, supply chain management, production planning, human resources, customer relationship management, and more.
Evaluate your options
Research and evaluate different cloud-based ERP providers, including their features, pricing, scalability, security, reliability, and support. Consider how well each provider aligns with your business requirements.
Consider integration options
Look for a cloud-based ERP in Singapore that offers integration with your existing software systems, such as CRM software or e-commerce platforms. This can help you streamline business processes and avoid data silos.
Check for customization options
Check if the cloud ERP provider offers customization options to tailor the software to your specific business needs. This can help you ensure that the software is a good fit for your business and can support your unique workflows and processes.
Also read: 16 Best ERP Software in Singapore You Should Know in 2023
Look for user-friendly interfaces within the cloud ERP software
Look for a Cloud-based ERP provider that offers a user-friendly interface that is easy to navigate and use. This can help reduce training time for your team and improve adoption rates.
Check for data security
Ensure that the Cloud ERP provider offers robust security measures to protect your data and prevent unauthorized access. This can include data encryption, secure authentication, and regular security audits.
Review support options
Check what kind of support options are available, such as email, phone, or chat support, and consider the provider’s reputation for customer service.
Overall, choosing the best cloud-based ERP for your business requires careful consideration of your business requirements, as well as the features and capabilities offered by different providers. By following these steps, you can make an informed decision that will help you optimize your business processes and achieve your goals.
Is cloud ERP software safe for my business?
Yes, cloud ERP software can be safe for your business, provided that you take the necessary precautions and choose a reputable vendor. Here are some factors to consider when evaluating the security of cloud ERP software:
- Vendor reputation: Choose a vendor with a good track record of security and a proven history of delivering secure cloud-based solutions.
- Data encryption: Ensure that the cloud ERP software uses encryption to protect data at rest and in transit.
- Access control: The cloud ERP software should allow you to control who has access to your data, and with what permissions.
- Data backups: The vendor should have robust data backup and disaster recovery procedures in place to ensure that your data is not lost in the event of an outage or other disruption.
- Compliance: If your business is subject to regulatory compliance requirements, ensure that the cloud-based ERP software meets the necessary compliance standards.
- Regular updates: The vendor should regularly update the software with security patches and bug fixes and ensure to address any vulnerabilities promptly.
- User education: Your employees should be educated on best practices for data security and how to use the cloud-based ERP software securely.
By evaluating these factors and taking the necessary steps to secure your data and systems, you can use cloud ERP software safely for your business.
In this article, we will help you narrow down your options with the best cloud-based ERP in Singapore. Here are some of them:
The Best Cloud ERP in Singapore from HashMicro
As the leading cloud ERP solution provider in Singapore with a complete software suite for various industries, customizable to the unique needs of any business. HashMicro took the opportunity to set up a cloud-based system that automates end-to-end business operations.
Since it can accommodate various businesses, it has become the most widely used enterprise resource planning (ERP) platform. Business owners and staff praise the app for making their jobs easier to understand in the context of the overall business goal.
HashMicro also has years of experience operating in various countries. The company has served thousands of customers in trading and distribution, construction, engineering, manufacturing, food and beverage, education, and professional services. Accounting systems, inventory management, HRIS systems, CRM, and various other solutions are all available.
Cloud-Based ERP from Acumatica
Acumatica is a cloud-based enterprise resource planning (ERP) solution in Singapore that provides a comprehensive range of tools for effectively managing corporate activities. It is suitable for small, medium-sized, and rapidly growing businesses. Acumatica provides the infrastructure for enterprises to become more efficient and flexible and continue operating in the face of environmental changes. It also has tools that will make telework and mobile setup easy to do, without interruptions.
Acumatica provides a comprehensive suite of products that successfully support multi-entity intercompany accounting, project accounting, financial management, payroll, CRM, and more. The program can be hosted on-premises or in a private cloud, giving you flexibility in how you deploy it. It integrates with other business platforms, including HubSpot, ProCore, Salesforce, and Shopify. The license cost of cloud ERP software from Acumatica varies according to the needs of the specific business.
The modern and easy-to-use interface of Acumatica connects business applications in a seamless way. It provides cutting-edge technologies that automate workflows to make them more efficient. Acumatica uses AI to assist firms in achieving flexible and efficient operations that are constantly ready to adapt to industry and market developments.
Method: CRM
Designed to work with QuickBooks, Method: CRM provides integrated, smooth sales processes that maximize digital client engagements. It can handle operations, including acquiring leads, monitoring sales prospects, creating sales orders, and processing payments. You can improve sales procedures all the way around with Method Cloud ERP at your disposal.
It can handle tasks such as capturing leads, managing sales opportunities, producing sales orders, and processing payments. For $28/user/month, you can access the basic contact management functionalities.
As one of the best cloud ERP providers in Singapore, the vendor also offers CRM Pro and CRM Enterprise plans. Aside from the features above, Method: CRM can also help you make data-driven decisions. Delivers integrated, seamless sales operations that make the most out of digital customer interactions.
NetSuite Cloud ERP Software
Cloud-based NetSuite ERP covers almost any business process you need to integrate to make your business run smoothly, from financial management to procurement, order and billing management, production and supply chain management, warehouse, and fulfillment.
The wide range of services has benefited businesses of all sizes, making it the most widely deployed ERP platform today. Business owners and employees praise the application for making their jobs easier to understand in the context of the overall business goal.
The financial module is a robust combination of comprehensive accounting capabilities with transparency and compliance at its core, automation, and precision in billing procedures. Also, astute business intelligence to drive the business forward using performance figures and industry-specific insights.
After the free trial, you must contact the vendor to negotiate a price for your specific needs. The tools you require will determine the price, scaling up or down is easily negotiated with the vendor.
NetSuite has been a trusted name in the cloud ERP software industry in Singapore for years, and its customer service is second to none, which should give you peace of mind when considering potential issues when choosing this software.
Tipalti ERP Cloud-Based
Tipalti is an award-winning billing and invoicing platform designed to make global payment processing more efficient. More than 1500 businesses from various sectors trust Tipalti, including business services, gaming, e-commerce, manufacturing, and healthcare. It also has automated account payables for more than four million suppliers worldwide.
This large-scale global payment platform will streamline payment processing by eliminating 80% of payable work. Tipalti has the tools you need to automate your payment processing workflow for suppliers, affiliates, business partners, etc., from beginning to end. The cloud ERP software makes this labor-intensive process more accurate and efficient. Whether it is invoice-based, fully digitalized, or a combination of the two.
Tipalti also optimizes payment and financial management while maintaining quality and security. It has enterprise-level financial controls to safeguard sensitive financial data from cyberattacks and potential data loss. Tipalti DetectTM, the company’s proprietary risk module, also screens, detects, and prevents potentially fraudulent transactions.
Conclusion
Cloud ERP software is a popular choice for business owners in Singapore who are looking to invest in a company’s infrastructure. The cloud-based ERP can provide businesses with more flexibility when adapting their software. It is a fact that the cost of using this type of software is much lower than traditional, on-premise models.
The type of cloud ERP chosen is important because it will affect how the company invests its money. This article presents the finest cloud ERP in Singapore’s market today. You should be able to find the right cloud-based ERP system that fits your company’s needs and preferences. Find out more about the ERP software pricing scheme before implementing it.
