Gone are the days when the business used to run on manual book-keeping. Going concern was key criteria for evaluating the success of the business than profitability. Business houses used to calculate profitability probably once a year. Many of them even did once in many years.

Competition has increased significantly over years. We have seen many large business houses that were doing well in the past has to close the shop. Knowing your business profitability in real time basis becomes extremely critical in today's business environment.

Let's look at how Cloud ERP can help modern business leaders and help them succeed.

1. Increased Productivity

Gone are the days when departments within an enterprise had to function on their own separate software applications that refused to interface with other existing systems. The advent of cloud ERP effectively eliminated mishaps like loss of data, misallocation of functions, and faulty decision-making that usually rose from lack of inter-departmental synchronisation. By combining the various systems across departments into a single, compact unit, ERP has since improved productivity and facilitated smooth exchange between the organization, departments, and its clients.

2. Standardizing Management Processes

Cloud ERP helps implement -best practices- within the company by ensuring that business operations such as handling orders, managing resources, updating procurement to pay processes, keeping inventory, etc. are all carried out in a standardized, homogeneous manner. As a result, errors are eliminated and costs reduced. Since ERP systems usually come with in-built ?best practices? that can also be personalized as per company requirements, the management can tailor operations as it deems fit to increase sales.

3. Better Operational Control

The common objective of most organizations is one of absolute control over its multifarious operations. A good ERP can help achieve this by keeping regular tabs on production, quality, finance, supply chains, order processing and deliveries and client responses. Keeping an eye from close quarters allows managers to take timely decisions, work towards improving existing protocols, and fix problems at the earliest, thereby curtailing expenses.

4. Greater Customer Satisfaction

A good ERP system promises a seamless, compact, transparent, and simplified supply chain. This enables customers to easily track their products, while allowing firms to deliver better-quality services and products on time. When used in conjunction with CRM (Customer Relationship Management) systems, good ERP software can enhance client-management relationships by keeping updated records of customer information, their purchase patterns, grievance histories, and payment archives. Securing long-term customers and attracting new ones improves profitability for start-ups and established businesses alike.

5. Improve Inventory Management

Good ERP assists manufacturers with keeping their inventory updated and controls excesses for minimizing wastage. By monitoring inventory usage, surplus management and restocking practices, while tracking turnover and demand, cloud ERP can predict the requisite amount of inventory necessary for production at any given time. With data accumulated on a real-time basis, good ERP optimizes output by customizing shop floor processes and reducing extra expenditure on raw materials, thereby improving profitability.

6. Reducing Manual Labour

An exceptional feature of good ERP is its ability to automatize a number of manual tasks within the company. Data collection, warehouse maintenance, inventory procurement, profit calculation, and multiple web-based operational processes now fall under the purview of the company's ERP system. This means lesser manpower and more time for employees to invest on the projects at hand. Good ERP system can thus reduce labour costs while increasing productivity.

7. Enhanced Project Management and Team Management

Cloud ERP with project management capabilities can ensure that teams are always aware on what are they supposed to do. Project Management Software can act as a good team leader in ensuring the team members are given proper and timely guidance to finish the work on time and track and improve their efficiencies. Time management software and Expense Management software can ensure that teams are not wasting time in tracking hours and expenses in inefficient way.

8. Optimal use of the Company Assets

Asset Management Tools helps companies plan their assets in optimal manner. Through scheduled maintenance to early warning systems in maintaining assets, assets maintenance cost can be reduced significantly. Good Asset management software also helps in eliminating the fraud risk factor in repairs and maintenance. In asset heavy organization, asset management software becomes a must to have tool.

Since cloud ERP affects almost all aspects of the management's operations, it can provide a real-time account of departmental exchanges, thereby speeding error-addressal procedures, all while accelerating operational activities. Real time data improves the decision making and make the business cycle spin faster. It reduces the capital blockage on inventory and debtors; helps optimize the asset lifecycle cost to the company. Faster turnover gives competitive advantage to companies to recover fixed costs much faster and be price competitive in the market. Overall Cloud ERP helps companies to improve profitability, which is must in the current scenario.

The Perfect Cloud ERP Solution - TYASuite Cloud ERP

TYASuite Cloud ERP is World's 1^st Plug and Play Cloud ERP. With integrated modules for Procurement to Pay, Inventory Management, Asset Management, Sales Order Management, Finance and Accounting, Compliance Management, Project Management, Customer Relationship Management (CRM) and Vendor Management, TYA Suite Cloud ERP can give you a unified user-friendly platform to manage your entire business from a single screen.

With robust reporting tools, constant alerts and notifications, interactive dashboards and 2500+ inbuilt plug-and-play features, managing your business has never been this easy - just sign up for the TYASuite Cloud ERP and automate and streamline your business processes. TYASuite Cloud ERP is best Cloud ERP for SMEs and mid-sized companies.

Save more than 50% of the cost by switching to TYASuite Cloud ERP. Talk to our process expert to get exact cost savings for your coming. With TYASuite Plug and Play cloud ERP you can go live just in 7 days- the fastest ERP Implementation in the world.

For an affordable, scalable, and flexible cloud ERP solution, look no further! Visit our website for more details, and get a FREE DEMO  of our product to test out the features.