![[Infographic] – The Economics of Cloud ERP at a Glance](/_next/image/?url=https%3A%2F%2Ftrgprodcms.wpenginepowered.com%2Fwp-content%2Fuploads%2F2024%2F09%2FCloud-ERP-Economics.png&w=2048&q=75)
It seems increasingly clear that cloud computing is the future of ERP. For businesses, the transition to the cloud is as much about financial benefits as it is about new technologies. This is especially true for small and mid-sized enterprises (SMEs).
The financial benefits of Cloud ERP
The most visible financial benefit of Cloud ERP is that businesses can avoid costly upfront capital expenditures, including hefty licence fees and investments in hardware required to operate on-premises ERP software.
Read more:Cloud 101 – A quick guide to Cloud ERP: Benefits & Drawbacks
Additionally, cloud-based ERP systems also require less customisation and take less time to deploy. Therefore, the associated costs are drastically reduced, as shown in the following infographic.
