Cfos -ERP Advantage #1:
Reduce costs associated with IT infrastructure
Nothing frustrates a CFO more than a massive investment in IT infrastructure that is not being fully utilized. With cloud ERP, your company doesn't have to buy and maintain expensive hardware and software. All of these costs are externalized and absorbed by the outsourced ERP vendor. Better yet, with cloud ERP, you only pay for what you use as needed. So unlike traditional on-premises infrastructure, you don't lose out on unused capacity because it just takes up space. The key word in all of this is cost optimization.
Cfos -ERP Benefits #2:
Reduce costs associated with expensive IT projects and recruiting/retaining talent
As every CFO knows, it's not just it infrastructure that is expensive to introduce and maintain, IT talent is, too. In-house IT teams can be a retention nightmare as competitors try to poach your top IT talent. In response, you need to increase wages and benefits to maintain the status quo. When you work with an ERP partner, the costs associated with maintaining systems and IT talent belong to the ERP provider, not you. Similarly, you only pay for what you need and use, without expensive long-term investments in hardware, software, and IT talent.
Cfos -ERP Benefits #3:
ERP makes your business scalable and "scalable"
Is your company expanding geographically and may want to acquire other competitors through an M&A (merger) strategy? If so, the CFO's basic responsibility is to assess and mitigate the many risks associated with the growth of such acquisitions. If you have a cloud ERP system, your IT capabilities can be easily scaled wherever you go, across town or globally. There is no need to install hardware, software, and IT staff in a new location because your ERP system and data can be securely accessed through the cloud. Instead of being frustrated by the many IT complexities of growth, your ERP system can easily grow and stay with you.
Cfos -ERP Advantage #4:
Keep up with the latest technology trends
Since you're working with an ERP partner that has a centralized setup to serve multiple customers/users, the ERP provider has every incentive to keep up and deliver all the latest technology updates. So your ERP provider doesn't fall behind your internal IT infrastructure and talent but keeps you informed of system updates and new products. In addition, you can enhance and add to your ERP system according to your needs and business requirements. You will get a menu of options and can choose what you want. This is effective not only from a strategic and technical point of view but also from a cost control point of view.