Benefits of Cloud-Based VCA ERP Software
Business enterprises have had a tough time making arrangements and managing On-Premises ERP software or said more commonly local ERP system. Although it was a one-time hit business solution for companies, On-Premises ERPs were never able to reduce overall operational costs in the way the advanced cloud-based ERP software does.
When compared to traditional business applications, On-Premises ERP software did help companies in enhancing the efficiency of diverse business processes. But the benefits were limited to few of the business genres, especially Large Enterprises. Small, and to some extent, even Medium Enterprises found On-Premises ERP software to be expensive. As a result, they started losing businesses to competitors, employment opportunities reduced and ultimately all these elements negatively impacted the overall economic growth of a country.
In recent years, the demand for cloud-based ERP software has enormously grown. And, this is proved from the fact that the cloud based-business software accounts for the 83% of the total market share. And it is poised to grow further. According to a recent report published on statista.com, “The cloud ERP software market will be worth 28.8 billion US dollars by 2022.”
These factors conclude to the fact that the On-Premises ERP software results in cost-overrun. On the contrary, there is advanced cloud-based ERP software such as Value Creation Automation (VCA) that helps companies in fighting with some of the common business challenges mentioned below.
- Unorganized Operational Control
- Unrelenting Workload on the Human Workforce
- Disintegration of Processes and Tasks
- No Visibility Within Business Processes
- Unstructured Business Data, Statements and Reports
- Inaccurate and Inefficient Financial Performance
Cloud-Based ERP software eliminates all such problems and helps businesses in growing exponentially in comparatively less time, money and effort.
Helps in Reducing IT and Other Operational Costs
Another best thing about cloud-based ERP software is that it helps in reducing IT costs and other operational costs by a great margin.
Having implemented a BPM software such as Value Creation Automation (VCA), companies can reduce overall operational costs. Let’s see how.
- VCA is a user-based BPM software, where companies need to pay only for the number of users they have.
- Companies do not have to invest in license fees, software, hardware, servers, its upgrade, employees training and maintenance of a dedicated professional team. All such costs are borne by the ERP vendor.
VCA is based on Software-as-a-Service (SaaS) delivery model, which is recognized by businesses worldwide for reducing operational costs and resulting in optimum resource utilization.
- SaaS-enabled VCA helps businesses in ensuring organizational goals are achieved within allocated time and budget.
- It further ensures that variation in final products and services are reduced to the minimum level.
- Integrating entire businesses at fingertips, SaaS-enabled VCA helps in instant identification and elimination of problem areas, therefore, establishing a smooth workflow.
How cloud-based ERP software adds to business flexibility, reliability, and agility?
With no paperwork required, no more pile of files loaded on the office table, no need to install too many of hardware and software and other such factors, cloud-based ERP software significantly changes the way business today function. Let’s see how ERP software such as Value Creation Automation (VCA) is adding to the flexibility, agility, and reliability of businesses.
- The cloud stores and protects entire business data and other various information and allows instant access and customization, anytime and anywhere.
- It keeps Owners and Directors updated with entire business transaction details even when they are away from the office.
- Powered by SaaS, VCA’s visual dashboard enables businesses in better scrutinization and operational control.
- From solving customer queries, to eliminating performance bottlenecks, to performing diverse business functions, cloud-based ERP software such as VCA ensures 24 x 7 availability for customers.
Cloud-Based ERP Software also Supports Businesses in Getting VAT Compliant?
Countries such as the UAE, for instance, is aiming to implement Value Added Tax (VAT), from 01 January 2018. Although it is not going to be an extra burden on businesses, companies cannot save themselves from being a ‘tax collection agents’ for the government. And, therefore, it would be wise for SMEs and Large Enterprises to make themselves VAT compliant as early as possible.
With the implementation of the VAT, following business areas are severely affected.
- Cash Inflow and Outflow
- Product Pricing
- Tax Compilation
- Financial Report Compilation
- Supply Chain
And, businesses can meet such challenges and get VAT compliant without any complications with the implementation of an accounting software such as VCA. Being a cloud-based ERP software and incorporating technological models, VCA deploys a robust approach to manage entire financial operations.
VCA is designed to record and report every single business transaction and display details through a visual dashboard. Entire data, statements, and reports are saved in the cloud, which can be instantly accessed by Owners, Directors and authorized employees anywhere and anytime. Finance executives can log-in through their mobile phones and perform diverse financial operations such as receiving payments from customers, updating ledger books and issuing VAT compliant invoices to customers and suppliers.
With cloud-based accounting software such as VCA, business leaders can have entire financial information on fingertips. It ensures complete compliance and also boosts the decision-making ability of business leaders.
Cloud-Based ERP Supports Scalability & Constant Growth
Cloud-based ERP software makes businesses apt to perform according to in the prevailing market scenario, where customers are active 24 x 7 across the advanced media platforms and even demand the same from business firms. Cutting operational costs by up to 50% and enabling businesses in running operations round the clock, from anywhere and anytime, a cloud-based ERP software adds to scalability and constant growth of companies.
Business process management software, for instance, Value Creation Automation (VCA), which incorporates technologies such as Artificial Intelligence (AI), Software-as-a-Service (SaaS), Automation and also Cloud-Computing is not only triggering the growth of Medium and Large Enterprises, but it is also encouraging and strengthening new entrepreneurs. In this way, ERP software such as VCA indirectly play an essential role in generating employment opportunities and also in significantly adding to the GDP (Gross Domestic Product) of an economy.