There is a solution fit for any type of organization and that applies to ERP solutions too- no one can afford to miss out the business leverage that an ERP offers no matter how big or small the size or the type of business domain it operates in. There are a number of myths going around about ERP solutions. Some of the major myths are:

  • The biggest myth going around is that ERP solutions are only for the bigger players and not suited for small business. Nothing else could be further than the truth as ERP implementation is available in many different scales of deployment models and price ranges that are affordable even for SMB’s. Many ERP solutions offer flexible pricing structures that can suit any business, no matter what the size. Pricing based on user needs can easily be determined based on flexible options to help you find your best fit. The best way to bust this myth is to ask for a quote, referrals and a demo/product tour and see for yourself.
  • Another prevalent myth is that comfort levels and control is better with manual processes. While this may be perceived to be true, the truth is that with only manual processes response times, possibility of errors, duplication of effort, manpower requirements etc are far more than when you use an automated ERP thus reducing the effectiveness and efficiency of responding to business situations. An ERP will automate updates, storage, retrieval, reporting of data in real time with alerts for action to be taken.
  • Another myth is that the cloud is not secure at all. Nothing could be further than the truth. The cloud creates new security challenges with new opportunities. Security risk can be minimized and security competence on the cloud can be better than the security competence of many standalone organizational systems. Some of the leading cloud environments are more secure than traditional IT systems. Some of the best IT minds have worked and are working on the cloud- this space will see the most activity in the years to come.

There are essentially two types of ERP solutions- cloud ERP and on-premise ERP systems. Migrating to a cloud based ERP solution provides significant advantages over traditional on-premise solutions. The cloud is already the preferred choice for ERP solutions due to its affordability, easy & anytime/anywhere access, lower financial & investment entry barriers as well as minimal set up times.

A cloud ERP solution can be deployed in two deployment models namely the SaaS model or the private cloud deployment model.

A SaaS model allows for a subscription based deployment option where you use the ERP solution provided by an external IT firm that is deployed on the internet/public cloud. In short they maintain, update and provide the solution and environment; you just pay as per use and operate it. This is cost effective and requires minimal IT deployment by your firm with flexible plans that can be upgraded or downgraded based on needs and this is currently the most popular deployment model with SMB’s and even with some larger players globally. Since all systems can be included in one solution, it is the most preferred one size fits all solution that is mobile/BYOD ready and can be up and running in no time at all while being easier on the pocket.

A private cloud is when you put the ERP solution on a host server/cloud of your choice or on your private server/cloud. This is highly insulated and secure since you control privacy and security completely and you also have better customization options. However, the cost burden is much higher with comparable security risks as SaaS solutions though of a different nature. The biggest problem is that most of the data that is generated in the field and on different devices due to BYOD diversity would not be compatible with it leading to time lags as data is entered and multiple standalone systems would need to be used hereby increasing duplication of effort, compatibility issues and limitations on holistic reporting.

Presently, hybrid cloud solutions are generating a buzz that have a mix of the private and public cloud options and this space is still evolving as we speak. Hybrid cloud solutions are subject to many of the same issues that affect private cloud, public cloud and dedicated hosting, as well as having a more complicated platform to get to grips with. Some key issues of compliance, infrastructure dependency and network complexity still remain unresolved.

We at VersAccounts have created a secure cloud based one stop comprehensive ERP solution. It has been catered to take care of all the business needs and concerns for operating your business effectively. It addresses key issues of the small business domain in the most effective manner possible. It is affordable and targeted towards SMB’s and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.

Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions.

Built from the ground up on the latest cloud and mobile technology, the VersAccounts Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.

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