How Much Thought Has Your Business Put Into The Cloud?
For many companies, cloud technology is less something they’ve embraced and more something they’ve gradually adopted over the years, as increased remote working has made better solutions necessary. Obviously, that may not be how your business looks at it – but in either case, it’s time to change.
Indeed, the growing number of product offerings in the ERP market clearly indicates to customers that cloud-based solutions are here to stay.
Who are the current market leaders? Industry analysts such as Gartner have identified Infor CloudSuite as a leader in cloud-based enterprise applications, including ERP, HCM, SCM, EAM, and other essential systems. If you’re a business looking to stay ahead of their competitors to better meet the demands of a modern workforce, it's time to consider implementing cloud technology solutions such as Infor CloudSuite.
Change Ahead of the Industry
It’s impossible to name an industry that wasn’t changed by the pandemic. Even businesses not directly affected saw their customers change usage patterns and had to adapt. But if we take that as a given, and instead we ask which industry was most affected, distribution is one sector that will come up time and time again.
Labour shortages, tight budgets and supply chain disruptions mean there are plenty of challenges to overcome and distribution has been thrown into a period of enforced and enthusiastic evolution.
Considering the challenges facing the distribution industry in the wake of the pandemic, the adoption of cloud-based ERP solutions appears more important than ever. In a recent report from Allied Market Research highlights, it’s estimated the market value of global cloud-based ERP is projected to reach $43.97 billion by 2027, with a compound annual growth rate of 14.2% from 2020 to 2027. What these figures show is that businesses across a variety of sectors are turning more towards cloud-based ERP solutions to overcome the challenges posed by the current business landscape.
Implementing a cloud-based ERP system such as Infor CloudSuite can benefit businesses in a number of ways. Here are just a few of the benefits Infor CloudSuite offers:
1. Enhance Collaboration
Infor CloudSuite services provide a platform that enables employees to collaborate more effectively and efficiently from any location with internet connectivity, leading to improved productivity, better decision-making, and faster response times to customer needs.
2. Boost Productivity
Infor CloudSuite can help boost productivity by automating tasks such as data entry and organisation, providing real-time data, enabling mobile access, facilitating collaboration, streamlining processes, and offering customisation options.
3. Lower Costs
By providing real-time inventory data and insights, Infor CloudSuite can improve inventory management, supplier management, and customer service whilst also helping to lower costs by reducing infrastructure costs, IT staff costs, and maintenance costs.
4. Improve Forecasting Accuracy
Infor CloudSuite include advanced analytics capabilities, such as predictive analytics and machine learning. These capabilities can help businesses analyse historical data, identify patterns, and forecast future trends with greater accuracy to gain a competitive edge.
Supply and Demand
What happens when you’re struggling to meet demand? You innovate the supply chain! Cloud-based ERP technology exist to do exactly that. Infor CloudSuite for example helped Famous Supply, a wholesale distributor of HVAC, plumbing, and building products, address challenges with its legacy ERP system. With Infor CloudSuite, Famous Supply improved inventory accuracy by 15%, reduced carrying costs by 25%, and increased productivity by 20% through real-time data and automation capabilities. With endless case studies from customers like Famous Supply, Infor's financial results come as no surprise. Results show that cloud-based revenue increased by 23% year-over-year, now representing 70% of their total software revenue.
The future of distribution is rapidly changing, and cloud-based ERP systems are at the forefront of this revolution. As highlighted by the success of Famous Supply and the financial results of Infor, it’s clear the huge impact of cloud-based ERP systems is hard to ignore!
Contact our Infor specialists today to learn more about how the right resource can help make your Infor CloudSuite implementation seamless.
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