There’s no denying it, purchasing a new ERP is a major investment for any business, no matter the size. So, it’s no wonder many businesses hesitate to do so and instead opt to wait until they have no choice. Sure, this seems to be the easiest and least expensive option. But once you dig into the numbers, you uncover a different story. When you consider all the possible cloud computing savings, holding onto your existing, outdated ERP may be costing your business money.
Top 5 mind blowing cloud computing savings
A recent study by Forrester consulting revealed some eye-opening economic benefits of making the move to a cloud ERP. In their interviews with several clients of the fastest growing cloud ERP, Acumatica, they found that by moving to the cloud, these businesses:
Increased their gross margins by $1.3 million
Where did the savings come from? Improvement in inventory management, increased quote accuracy, reduced labor costs and improved data quality.
Reallocated 50% of their IT time, saving them over $614,000
Where did the savings come from? Moving to the cloud frees IT teams from the burden of managing on premise infrastructures, customizations or multiple ERP instances. Plus, the software update process went from a headache inducing chore they often avoided at all costs, to something that was much more manageable.
Increased sales volume by 15%
Where did the savings come from? Shortened sales cycles, plus increased production volume coupled with higher quality leads. A combination which resulted in substantial increases in conversion rates.
Saved $464,000 in licensing costs
Where did the savings come from? Acumatica’s unique to the industry pricing model does not charge based on how many users a business has. So, customers can grow their headcount without paying higher licensing costs.
Enhanced operational efficiency by 45%
Where did the savings come from? Many modern ERPs, like Acumatica, offer a variety of automation tools to take time-consuming and error-prone processes off the desks of your busy employees. With automation, you can do tasks that used to take hours or days with the click of a button, without error.
When you consider real cloud computing savings like these, maintaining the status quo may not be helping your bottom line. Read the Forrester consulting study to learn more.