When you buy an Enterprise Resource Planning (ERP) application for your small or medium-size business, the very first consideration is whether you want it on your premises or hosted on a cloud.

Typically, on-premise ERP solutions are implemented on servers and computers in-house using a license model; in a cloud-based implementation, a provider hosts the application on their servers externally.

Read on for some valuable insights into the advantages of cloud accounting ERP solutions.

Freedom from performance worries

ERP is usually offered as an application suite containing various business modules including accounting, marketing, sales, inventory, and service delivery. Providing a complete business solution, it requires a huge amount of computing power to run with maximum efficiency. When you opt for the traditional model, you have to invest in appropriate hardware and other infrastructure and ensure its maintenance. With hosted solutions, you only require a good internet connection. The provider takes care of the resources and infrastructure, and makes sure that the ERP performs effectively for your business.

Freedom from operating cost worries

With the in-house solution, you will probably need to recruit new hires and form a team to maintain the hardware and infrastructure. In addition, you will have to pay for licenses and ensure the security and privacy of your data. All this involves costs and has a direct bearing on your IT budget. With the hosted option, you have to pay only a flat rate monthly fee, which means that the total cost of your implementation will be lower. You get the best of both worlds – enjoying the benefits of the solution without paying a huge amount from your pocket.

Freedom from access worries

You only need a steady internet connection to access your data from anywhere. While this may seem like a potential problem at first, it is not so. With proper access controls and security measures put in place by the provider, you can mitigate this risk and convert it into an opportunity by allowing access to business information from outside the office. With the hosted model you can overcome the threats that are usually associated with access to sensitive information and increase your business operations to a great extent.

Freedom from maintenance worries

Hosted providers manage the entire system and the solution. They take care of the installation and maintenance both, and perform all the critical maintenance activities like OS upgrades, security updates, antivirus maintenance for the servers, and regular software updates for the ERP system. This ensures that the system works efficiently with high productivity.

Engaging professional ERP software providers who offer hosted solutions for your business will let you unlock the product’s maximum potential by choosing the best deployment option that suits your requirement. This cost-effective solution lets you have a stress-free ERP implementation experience so that you can focus your energy and efforts on the core of your business to achieve all your business goals without breaking a sweat.