Word of the Day: cloud ERP

Word of the Day: Daily updates on the latest technology terms

Word of the Day Daily updates on the latest technology terms | September 24, 2019 cloud ERP Cloud ERP is a type of enterprise resource planning (ERP) software that is hosted on a cloud computing platform, rather than on premises within an enterprise's own data center. ERP is an industry term for the broad set of activities that helps an enterprise manage different parts of its business, such as purchasing, inventory management and customer relationship management (CRM). ERP applications can also include modules for the finance and human capital management aspects of a business. Unlike on-premises systems, cloud ERP -- which is a type of software as a service (SaaS) -- increases accessibility via the internet and enables users to share and transfer data across business departments, as well as externally, in real time. Because it is cloud-hosted, businesses are notified of any updates to the software immediately. Cloud-based ERP also comes with availability, backup and disaster recovery plans from providers to reduce interruptions to the software. Like other service models, cloud ERP follows similar payment models: Enterprises pay for used resources monthly, rather than a fixed price all upfront. It also removes the need for additional hardware and maintenance on site, which decreases operating costs. As business needs change, enterprises can alter how much they use cloud services and scale resources. Challenges with cloud ERP Cloud ERP provides many benefits, but it also creates some management challenges. Admins lose a certain amount of control when an enterprise moves off site, as providers take on most of the responsibilities. While there are some customization abilities, there are far more with on-premises infrastructure. Admins have to implement new management processes for a cloud-based ERP system, which can create some integration issues. Also in cloud, enterprises need to depend on the provider's security, which may or may not be as secure as on-premises ERP systems. Admins must pay special attention to data residency requirements and follow standards and regulations to remain compliant, as information can reside in multiple data centers across various regions. Lastly, as an enterprise grows, its requirements could change, and it may want to purchase additional modules from other vendors to supplement any gaps in cloud services. Integration complexities can occur when an enterprise uses multiple services, as some cloud applications will have to move across third-party products. Cloud ERP software is primarily used by small- and medium-sized businesses and is a good fit for startup organizations and new business divisions within an existing company. Some cloud-based ERP vendor options include Acumeatica, Deltek, Epicor, Oracle, Microsoft Dynamics, Rootstock Software, Sage and SAP. Quote of the Day "Because SaaS is an increasingly popular model that stands in contrast to the traditional on-premises model, it can be helpful at the outset to understand specific facets of SaaS ERP when considering the cloud ERP vs. on-premises ERP question." - Adam Boyce Related Terms ERP human capital management open source ERP SaaS ERP SAP/HANA Cloud Platform cloud integration Learning Center Discover the best ERP software for your organization ERP software integrates the main functions of business processes into one centralized system. Companies can benefit from this software, depending on the size and requirements of the business. In this product roundup, dive into the best ERP software for your organization. Cloud ERP vs. on-premises ERP: What are the differences? Before making a buying decision, it is crucial to research the differences between cloud ERP vs. on-premises ERP. Traditional ERP offers reliability, while SaaS ERP offers flexibility. Explore other benefits and drawbacks of these types of systems. Oracle ERP Cloud expands its digital assistants At Oracle OpenWorld this week, attendees will hear a lot about digital assistants. The Oracle ERP Cloud will see a lot of upgrades, including more automation and predictive analytics. Cloud ERP system selection: How to evaluate your company needs A cloud ERP system is a big investment for any organization, so it is crucial that you go through a selection process. But how do you avoid the most common mistakes when making a buying decision? Read this article to help you choose the right software for a cloud ERP implementation. Cloud is driving force behind 2019 ERP industry trends ERP industry trends for the first half of 2019 see more interest in implementing cloud-based ERP systems. However, experts say the movement may be slower than necessary because of doubts about cloud benefits and costs. Quiz Yourself The user-training for the new business intelligence software was extensive, in the hopes that employees would be __________ by the change. a. unphased b. unfazed Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter The Word of the Day is published by TechTarget, Inc., 275 Grove Street, Newton, Massachusetts, 02466 US. Click to: Unsubscribe. You are receiving this email because you are a member of TechTarget. When you access content from this email, your information may be shared with the sponsors or future sponsors of that content and with our Partners, see up-to-date Partners List, as described in our Privacy Policy. For additional information, please contact: webmaster@techtarget.com. © 2019 TechTarget, Inc. all rights reserved. Designated trademarks, brands, logos, and service marks are the property of their respective owners. Privacy Policy | Partners List