Every company wants to maintain its competitive positioning by making sure its attrition rates, expense, and payroll costs are not too high while always looking for ways to increase workforce productivity and profits. Sometimes, that’s easier said than done. However, if your business has deployed a cloud-based business management software, the possibilities are limitless. Today’s workforce are highly-dynamic and different from yesteryear and leading companies know that in order to keep growing sustainable they must modernize themselves and streamline HR, payroll, and operational processes. And, with the right cloud-based ERP, companies can achieve a lot more.
Here are a few ways companies can remain nimble and boost workforce productivity and profits:
A Year-Availability (24/7 365 Days)
In today’s highly competitive business landscape, not having access to data whenever you need it, equals lost opportunity, decrease customer satisfaction and profits. The right cloud computing application is available no matter where your customer, finance, admin, payroll and HR managers are. Irrespective of their locations, they can gain access to data in real-time, respond to employee queries, vacation and other leave management requests.
Rapid Innovations
When it comes to an on-premises ERP, any upgrade could be a major one—entailing significant time and expense. As a result, your business can achieve the maximum benefits much more quickly? On an average, cloud-based ERP solutions take little time to configure and adapt over time. So, if we compare on-premise to cloud-based ERP software solutions, we can safely land to a cloud-based ERP solution.
Reduced costs
While HR has traditionally trusted on IT team to maintain their on-premises HR systems, mature and robust cloud-based ERP solutions are changing that perception. Cloud-based solutions are easy to configure and scale as the business demands. Further, there is a less reliance of employees to deploy, manage, and support them.
Compliance Ready
Compliance with confidentiality regulations is crucial for any organization. The most personal information an organization holds about its workforce is stored within the HR function. Bank details, home addresses, salary slips, perhaps information about medical conditions. If any organization is storing this information on excel and spreadsheets it is quite vulnerable to be used inappropriately. A cloud-based ERP like SAP Business One India works by helping drive business outcomes by storing personal records in a secure manner and minimizing compliance risk. Further, you can depend on this powerful and a proven cloud platform that is robust, high-performing, secure, scalable, and mobile — allowing you to adhere to organization’s compliance rules closely.
Change is a constant in today’s global marketplace. However, moving your core HR applications to the cloud is a major undertaking. Without strategic guidance and right partner, you may not be able to leverage the full potential of cloud based ERP.