Cloud migrations often come hand-in-hand with digital transformations. The natural progression of technology has dictated such, with the cloud computing marketplace estimated to surpass $1 trillion in 2024. While the move seems like a no-brainer for many businesses, take a breath and consider a few factors before diving head-first into technology you might not fully understand.
First, you need to decide on cloud technology or a hybrid of cloud and on-premise technology for your ERP system. A hybrid system is typically used by those who already have a pre-existing ERP system in place. It could cost more to maintain in the long run, however a hybrid ERP means you won’t have to rebuild an entirely new system – as you would have to with a cloud-based ERP.
Cloud-based ERPs are easily scalable, require no infrastructure to set up and can provide a location for data access no matter where you are in the world. Updates are automatic and won’t require you to personally go out of your way to instigate them. Cloud software is also adopting real-time data access, while also benefiting from automation, integrating data from multiple sources and decreasing the reliance and strain on IT teams.
The next factor you need to consider is if cloud technology will help leverage AI technology. Short answer: yes. Cloud software will help pave the way for AI tech to take the center stage. Cloud tech better positions everything from your business (data, systems, processes) to be ready for AI tools and functionality. Cloud technology is flexible and versatile; the agility of the technology on hand is why AI functions are so readily available. Insight Software’s Oracle system tools readily take advantage of generative AI to enhance the user experience.
Upgrading from old legacy systems to new and improved broaches the final factor you need to think about: how will you migrate data to the cloud? Insight Software’s Angle Professional was created for this specific purpose. Rather than having to import all legacy data, Angle Professional is a cloud data warehouse. It’s a central point to access data and information from multiple, different sources.
Taking advantage of Excel systems and most user’s familiarity with the program is an efficient method of data migration, too. Insight Software’s Spreadsheet Server exploits the familiar Excel interface and can provide you with refreshable, drillable data. It also creates custom reports with the need to burden the IT team – giving a lot more autonomy to users.
Oracle ERP Cloud technology is a powerful tool that’s ideal for reinforcing your financial and accounting systems. Remember the factors you need to consider when deciding on what ERP technology to invest in and your business could see improvements in record time.
