3 Ways Cloud ERP is Helping Retailers Thrive
Increased competition and marketplace volatility in recent months have seen a dramatic uptake in the number of retailers turning to cloud ERP to support day-to-day operations.
Enabling organisations to rapidly pivot and scale on demand, cloud computing has in recent years become a mainstay for modern retailers. The ability to rapidly pivot to support an increase in remote working and e-Commerce growth is essential in the face of Covid-19 and a changing consumer landscape. Bolstered by the successes to date, forward-looking retailers have begun to transition their existing ERP systems to the cloud in a bid to further enhance operations, counter ever-increasing costs and grow market share.
Let's take a look at just some of the ways Cloud ERP, in particular LS Central on Microsoft Dynamic Business Central, can bring positive changes to your retail business:
1. Real-Time Insight Across Physical & Online Stores
With many retails operating both online and traditional bricks and mortar stores, collating data from across the organisation can prove a challenge. Cloud-based ERP helps overcome this challenge, consolidating all data including sales, purchases, customer, staff and inventory data, etc from across the organisation in real-time. With data delivered in real-time, your team can stay in the know regardless of physical location by simply logging on to the secure platform via mobile, desktop or tablet.
Plus with inventory data updated in real-time, you can deliver enhanced customer experience, ensuring accurate stock levels online and the ability to divert online customers to physical stores where stock is no longer available online and vice versa.
2. Enhanced Security
From data legislation to security protocols and privacy requirements, keeping up to date with the latest threats requires a specialist set of skills which can prove costly. With LS Central, the security obligations traditionally associated with ERP server management are ported away from your in-house team to the cloud provider, in this case, Microsoft Azure. Backed by Microsoft's enterprise-level cloud security protocols and active directory access controls, your team can rest easy knowing your data is secure with an uptime SLA of 99.9%.
Unlike on-premise systems which age over time, ultimately requiring re-investment and migration of business data, cloud ERP solutions remain evergreen, meaning no more complex and costly maintenance and a reduced risk of system failure.
3. Tap into the Power of AI and ML
With spiralling materials and logistics costs, organisations are under increasing pressure to optimise all aspects of their supply and distribution networks. Perhaps one of the biggest benefits of cloud ERP in today's marketplace is the ability to take advantage of advanced computational power such as Artificial Intelligence (AI) and Machine Learning (ML). Manual tasks can be automated to free up your staff, enabling them to invest time into value add activities requiring human intelligence to accomplish.
With native integration between Business Central and Power Platform, leverage AI power chatbots to enhance Customer Experience with 24/7 virtual support or turn data into action with real-time custom dashboards using Power BI.
To find out more about LS Central or to book a solution demo, contact us today to speak to a member of our team.