How cloud computing can help plug a slow profit leak

May 26 2020
POSTED IN News

When it comes to legacy technology, doing nothing has a cost

Do you have aging technology that’s difficult and costly to maintain? Are you struggling with numerous enterprise systems that can’t talk to each other? Is limited system functionality driving your users to create inefficient workarounds? Do you worry an over-reliance on Excel spreadsheets is affecting data quality?

If you answered yes to any of these questions, your legacy enterprise technology may be causing a slow profit leak.

The danger of hidden inefficiencies

The issue is more pervasive than you might think. As companies grow, inefficiencies invariably creep into their processes. While you may not be able to put your finger on it, chances are you’ve seen the signs:

  • You’re struggling to create budget plans or close the books
  • You have difficulty responding quickly to market opportunities
  • Your outdated systems could be preventing you from gaining full visibility into your performance, hampering your ability to compete effectively

Over time, all these issues can lead to a hidden but steady profit erosion. Fortunately, <<cloud computing>> may be an efficient and effective way to plug the leak.

Breaking down the walls

In an analog world, the traditional workflow was sequential: Your staff, vendors or partners would labour in silos to complete one piece of a project before sending their output over a notional wall for the next phase of work to begin. It was tedious, time intensive and costly.

Cloud computing breaks down those walls and eliminates inefficiencies by using digital technology to automate workflows from role to role. For example, online dashboards can let you monitor your key success and performance indicators and alert you to issues as they arise. You can manage by exception and track the health of your business in real time — giving you the agility to respond to an ever-changing business environment.

True cloud also empowers your users to securely access the full functionality of your enterprise applications through any mobile device, anywhere in the world, at any time. That means your employees can confirm deliverables, receive sign offs, conduct system lookups, send invoices, collect payments remotely and deliver the highest standards of customer service, no matter where they’re located.

Moreover, you never have to worry about your software solutions becoming outmoded or reaching end of life. Software updates are automatically pushed to you, ensuring you’re always using the most functional, most secure software available at any given time. This level of flexibility is simply unmatched by any on-premise software systems.

The cost of doing nothing

Moving to the cloud can seem daunting. But the stark truth is that doing nothing is potentially even riskier. To make an informed decision, you need to understand what your current environment is costing you — not only in maintaining hardware and infrastructure investments, but also on software maintenance, security and human capital.

You also need to assess the extent of your profit leaks due to process inefficiencies. If your company is like most, you will likely discover that cloud computing can help you realize a range of unexpected advantages — from increased productivity to streamlined supply chains, greater access to information, improved workflows, increased security and lower operating costs.

Create new opportunities

If you’d like to discover how cloud computing can sharpen your competitive edge and put more money on your bottom line, MNP can help. For more information, contact Kerry Mann, National Leader of Enterprise Resource Planning at 647.480.8400 or Kerry.mann@mnp.ca

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