With ever-growing cloud adoptions so far, it is estimated by Gartner that 95% of new digital workloads will be deployed on cloud-native platforms by 2025.
Even more than 50% of enterprise IT spending in key market segments will be focused on the cloud by the year 2025. Concluded by Gartner.
So, what is the very first thing that came into your mind after reading the above statements? Just think over it and you will end up analyzing the level of digital transformation in your business.
Thus, whether you are a growing business or a small business seeking to scale up your business capabilities, improve efficiency, and reduce costs, implementing digital transformation strategies becomes the inevitable need for your business landscape.
Yes, we are in the age of cloud solutions, and steadily moving toward acquiring the one-step-ahead digital transformation in the business is crucial to managing day-to-day enterprise practices, elevating customer experience, or optimizing field operations.
To effectively reinforce the above-stated business operations, implementing cloud-based ERP, CRM, or FSM solutions becomes imperative wherein ERP alone can help businesses to support and manage several crucial business operations.
According to Statista’s market analysis, cloud ERP market revenue was recorded at USD 14.7 billion in 2018, which is further expected to acquire USD 40.5 billion by 2025 at a CAGR of 13.6 during the year 2019 to 2025.
With this overview, you have adequate know-how - how the cloud ERP market is continuously growing with significant growth and is anticipated, with increased heights. Thus, modern businesses are deploying cloud ERP just to impact their digital transformation strategies which in turn drive efficiency and growth.
Here is how implementing cloud ERP can impact digital transformation strategies.
The Impact of Cloud ERP on Digital Transformation
When it comes to cloud-based transformation, deploying cloud ERP is considered a foremost way as it empowers and enables businesses to smoothly carry out critical business operations, optimize the operational flow, and amalgamate processes.
Thus, demonstrating below how implementing an ERP business management platform is helping businesses reinforce their digital transformation strategies:
Achieve Workforce Collaboration
Working in an isolated manner may not help you optimize your process flow and introduce efficiency across your operational space. Once you upgrade your system capabilities with cloud ERP, you can succeed in achieving workforce collaboration.
This in turn helps connect your workforce and allows them to ensure collaborative efforts in real-time as everyone in the process cycle remains aware of what has happened, what is currently happening, and what is yet to happen in the process.
For instance, having eyes on real-time inventory levels on the shelf, what inventory counts are in the pick-pack-ship process, and what is on the way to customer delivery. This can help you maximize workforce efficiency, minimize costs associated with inefficient processing, and achieve improved customer experience.
Drive Process Automation
If you observe, there are numerous tasks in each process that you require to do repetitively and in the same manner. Moreover, when things are done manually it imbibes the opportunity of inaccuracy and redundancies as well.
To have more clarity on this, let’s understand this through a use case. Suppose you need to create a sales order for a specific customer on a fixed regular interval. What if you need to do the same for 100 customers?
Here, creating sales orders each time will engage your warehousing team for hours to perform a similar task. Once you automate this process, it can be done by your system itself as the sales orders can be generated at the specified time for each customer.
Now, you can evaluate how it can impact your workforce efficiency, as they can focus on other tasks instead of doing the same repetitively which also involves the potential of inaccuracy. With the help of cloud ERP, you can drive this automation of many other processes too from inventory invoicing to customer notification, and more.
Level Up Customer Experience
It requires end-to-end efforts to keep your customers happy and satisfied. After acquiring customers, the next step is to serve them quality in the defined time frame, along with timely support and issue resolution.
Using a cloud ERP platform, you can stay updated with inventory counts and when there is a need to restock the same. Moreover, if your ERP is configured with AI (Artificial Intelligence) and Machine Learning Algorithms, it can also help you understand your customers' behavioral patterns through their past purchases which in turn helps you serve them a personalized deal.
Again, an ERP integrated with an AI Chatbot can also help quickly respond to your customers' general queries without any human intervention. Leveraging this way can help you gain customer trust and ensure their retention rate.
Seamless Market Expansion
When it comes to scaling your business in the global market, it needs to adhere to global compliance and industry regulations, the capability to deal with multi-currency, the facilitation to manage warehouses in multiple geo-locations, and many more on this list.
Certainly, without deploying an ERP solution in your system, scaling your business in the international market won’t be easy. And using distinct or multiple system solutions may not help you attain efficiency.
Here, integrated cloud ERP software is required to manage your end-to-end business expansion requirement in the global marketplace. Thus, a capable ERP solution can help you impact your digital transformation strategies.
Better Resource Utilization
When your repetitive tasks can be automated such as customers can be responded to through AI-generated automated emails, inventory can be controlled as well as automated requirements can be generated to stock up the level, lead conversion cycle can be shortened via AI-opportunity scoring functionality, etc., then, you can ensure better resource allocation and eventually reduce your costs.
You can even free up your resources that handle customer support part as half of the customer queries or issues can be resolved through AI-integrated Chatbots in your ERP system. Further, these resources can be utilized to scale up your business.
Informed Decision-Making
With real-time insights across your processes from inventory, warehouse, vendors, customers to finance, and more, you can make informed decisions. You can even monitor the process and introduce improvements, provide a personalized experience to your customers, streamline purchase orders from your vendors, and simplify your order fulfillment to your customers.
Overall, with the help of cloud ERP baked with real-time analytics and insights capabilities, you can make informed decisions to maximize profitability support your company’s growth, and elongate scalability in the global geolocations.
Why Choose LionO360 Cloud ERP to Impact Your Digital Transformation?
Here is How LionO360 Cloud ERP Can Help:
LionOBytes offers cloud-based ERP helps you streamline your processes, equips you with real-time data accessibility, and frees you up from infrastructure upgrades while enabling the scope of expanding your ERP capabilities with your growing business needs.
With LionO360 cloud ERP, we help consolidate all your existing business applications to achieve connected systems and encourage collaborated processes wrapped with increased efficiency and reduced costs.
Equipped with AI and Machine Learning algorithms, LionO360 cloud ERP helps you automate your routine tasks, facilitates you with predictive analysis, and ensures informed decision-making in real-time.
Designed with customer-oriented functional capabilities that serve personalized experience to your customers revealed through their buying patterns and past interactions.
With AI insights, you can gain customer eligibility scores, accelerate lead conversion with AI-based lead scoring, send AI-generated emails to your customers that drive customer loyalty, and get customer sentiments without even reading the whole mail to prioritize customers' issues and ensure customer retention.
To quickly access data, you can run relevant queries through an in-built chatbot that helps you with data and insights in both the text and visual context.
Automation in various tasks and processes helps drive efficiency as you can automate recurring sales orders, estimates, invoices, etc., by creating workflows defined as time-based or event-based.
Extensive integration capability with LionO360 Cloud ERP allows you to seamlessly and securely integrate your siloed systems and drive effectiveness.
Whether you want to connect your Finance & Accounting or eCommerce systems such as QuickBooks or nopCommerce, LionOBytes ensures seamless integration between LionO360 ERP and third-party applications.
To drive a smoother supply chain and faster order fulfillment, LionO360 can also be integrated with shipping partners such as EasyPost UPS, FedEx, etc.
LionO360 CRM is also designed with scalable functional capabilities such as multi-currency management, multi-warehousing, etc. reinforcing you to establish your business in global geo-locations.
To understand how LionO360 ERP can help you impact your digital transformation strategies, connect and talk to our experts.
