How does Cloud ERP benefit C-Level executives?

How does Cloud ERP benefit C-Level executives?

By Annexa
23 November 2022
Partner Content

The time is ripe to get serious about digital transformation, make it a priority and implement what will undoubtedly be an enduring competitive advantage. This digital transformation falls on business leaders to execute.

In this article, we explore the advantages Cloud ERP brings to the role of executive business leaders – CEOs, CTOs and CFOs. We also delve into how Cloud ERP supports high-level users in their day-to-day activities, enabling greater efficiency and growth.

What is Cloud ERP?

Cloud ERP is an enterprise resource planning (ERP) software that runs on a secure server, providing real-time data, analytical capabilities, customisable reports and more. The software opens the door to increased efficiency and productivity, helping boost the bottom line of a business.

The CEO perspective 

The advantages of a Cloud ERP system are immediate to those working in day-to-day operations - integrated processes, streamlined workflows and providing access anywhere to workers. For CEOs, it's the all-seeing eye of Cloud ERP that allows them to understand their operations better, mobilise and unify the organisation.

The single most important capability for the CEO role is real-time visibility. Cloud ERP allows CEOs to keep a close watch on everything - operations, marketing, strategy, financing and company culture to human resources, compliance, sales, PR and more. For areas requiring closer scrutiny, they can delve into data and make decisions quickly based on the insights gleaned.

Another immensely powerful capability is process efficiency driven by workflow automation. Disparate systems create multiple manual steps, which means double or triple handling and a higher probability of human error. Cloud ERP brings the system together, reducing manual processes and allowing those once-patchy workflows to be automated. This opens the door to many efficiency opportunities to bolster the bottom line.

The CTO perspective 

The CTO role is pivotal to the entire enterprise IT portfolio. But their input extends beyond operations and infrastructure. Today, they must tie IT priorities to business goals and seek ways to apply new technologies and business models to improve results.

Given the evolving role, Cloud ERP’s capabilities extend across security, flexibility, costs, scalability, and more. But analytics and support are extremely valuable by-products that deserve particular attention.  

Analytics is essential for handling underlying data complexity. With Cloud ERP, organisation-wide data is centralised to a single source of truth. CTOs gain that critical level of real-time data visibility required to turn insights into a competitive advantage with tangible business benefits that fuel innovation and hedge against disruption.

The CTO is vital in successfully transitioning to a hybrid work model. By implementing Cloud ERP, CTOs can support the end business user to securely access business resources and get work done when and where they're most productive. This is no longer a nice-to-have; it's essential to modern workstyles.

The CFO perspective

As the arbiter of financial decisions, the CFO must allocate resources for growth, track and measure company success, and protect the enterprise against value destruction. 

To fulfill these responsibilities, the CFO requires systems connectivity. Replacing disparate siloed systems with a cloud-based ERP brings the systems together and unites data. Detailed sales data, fixed assets, inventory management, advanced revenue recognition, and tax modules are all accessible from one system.

This gives the CFO the advantage of speed to access and consume data. There's no need to wait until end of the month processes or consolidate data on the fly. There's always an instant view of the organisation's current financial position and granular finances too.

But it's not just the financial insights, for example, a Cloud ERP provides inventory management to deliver an instant overview of which products are available, selling successfully, or failing to capture sales. This means they get insights into not just what the static financial numbers are but what they're made up of and what's driving those numbers. For the CFO, Cloud ERP eliminates these disparate repositories and instantly provides exponentially greater insights across the business.   

Download the eBook – Get more insights!

Are you a business leader considering migrating to a Cloud ERP system? Download a copy of 'Transforming with Cloud ERP - Considerations for the C-Suite' to learn all the role-based considerations for successfully evaluating Cloud ERP and how you can deliver ROI fast - enabling long-term, business-wide transformation.

Click here to download your copy

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