Is Cloud ERP the Answer to Your Inventory Challenges?

Written by

  • Managing inventory can be a headache.
  • Keeping track of stock levels, orders and deliveries is more challenging than ever.
  • So, what can you do to make it easier? Is Cloud ERP the answer you’ve been looking for?

What Is Cloud ERP?

Cloud-based Enterprise Resource Planning (ERP) systems are tools that help you manage your business. Unlike traditional systems that require expensive hardware and installations, Cloud ERP operates over the internet. This means you can access your data anytime, anywhere.
An ERP system integrates core business functions – like Multi-Channel eCommerce, warehouse management, sales order processing, manufacturing, finance and reporting – into one platform, serving as the central hub that ensures smooth, efficient operations across all departments. This integration is beneficial in industries such as eCommerce, retail and manufacturing, where streamlined operations are crucial.

How Can Cloud ERP Help with Inventory Management?

Get Real-Time Updates

Are you in control of your inventory? With Cloud ERP, you have real-time access to your inventory levels across all your locations. Accurate stock levels help you avoid running out of products or overstocking items that don’t sell.
According to a 2021 report by Gartner, 70% of businesses that implemented cloud ERP systems experienced improved real-time data access, leading to better inventory management – Source: Gartner, “Enhancing Inventory Management with Cloud ERP,” 2021.

Easily Scale Your Business

Is your business growing? Cloud ERP systems can grow with you.
Need to add more users or open a new location? You can scale up without major costs or system overhauls.
A 2020 study by IDC found that 80% of companies reported enhanced scalability after adopting cloud ERP solutions, enabling them to add users and locations without significant additional costs – Source: IDC, “The Scalability Advantage of Cloud ERP Systems” 2020.

Save on Costs

Are you spending too much on IT infrastructure? Cloud ERP reduces the need for expensive servers and maintenance. You pay a subscription fee, turning big upfront costs into manageable monthly expenses.
Forrester Research reported in 2021 that organisations reduced their IT expenses by an average of 15% over three years after migrating to cloud ERP platforms – Source: Forrester Research, “The Total Economic Impact™ of Cloud ERP,” 2021.

Improve Team Collaboration

Are your departments working together effectively? With Cloud ERP, everyone accesses the same data. This improves communication and reduces errors caused by outdated information.
A survey conducted by Deloitte in 2019 revealed that 68% of businesses experienced improved cross-department collaboration after implementing cloud ERP systems – Source: Deloitte, “Boosting Collaboration with Cloud ERP Solutions,” 2019.

Integrate with Other Tools

Do you use other software like CRM systems or eCommerce platforms? Cloud ERP can connect with these tools, streamlining your operations and giving you a complete view of your business.
According to a 2020 report by the Aberdeen Group, 64% of organisations achieved better operational efficiency by integrating their cloud ERP with other software platforms – Source: Aberdeen Group, “Maximising Efficiency: The Integration Benefits of Cloud ERP,” 2020.

What Should You Consider?

Before making the switch, think about these points:
  • Data Security – Are you comfortable storing your data online? Ensure the provider has strong security measures to protect your information.
  • Internet Reliability – What happens if your internet goes down? Since Cloud ERP relies on internet access, a reliable connection is crucial.
  • Staff Training – Will your team need training to use the new system? Plan for a learning curve to get everyone up to speed.

Is Cloud ERP Right for You?

Ask yourself these questions:
  • Are you struggling with outdated inventory systems?
  • Do you need better visibility into your stock levels?
  • Is your current setup limiting your growth?
If you answered “yes,” then Cloud ERP might be a good fit for your business.
Inventory challenges don’t have to hold your business back. Cloud ERP offers a straightforward solution to manage your stock efficiently. By providing real-time data, scalability and cost savings, it can help you overcome common inventory problems.
Stok.ly offers cloud ERP solutions designed to make it easier for businesses to manage inventory. The system provides real-time information, scales to meet your needs and connects smoothly with other systems, helping you solve inventory challenges and improve daily operations.