The use of cloud-based ERP systems is on the rise across many industries, and the education industry is one of the forerunners. In a previous blog, we defined what Enterprise Resource Planning is, and they work on a cloud-based scenario, the advantages of Cloud ERPs, and pointed out specific industries where they are applied. Now, let us focus on a particular industry where the impact of cloud ERP systems is significant and shows a tremendous futuristic potential - the education industry. Let us start with a brief overview of the concepts first.
Overview of Enterprise Resource Planning and Cloud ERPs
For the uninitiated, Enterprise Resource Planning (ERP) systems integrate various business processes of an enterprise using technological tools. A business using ERP can gather, manage, store, process, and analyze data from its various operations. With rising IT infrastructures, ERP software systems are used in many industries. In fact, the projected revenue of the ERP systems market is $78.4 Billion by the year 2026. The market had a growth rate of 9% in 2019 (if you notice a difference between our previous post regarding these projections, it is not coincidental - the figures change with the growth of the market and newer studies and projections - it is only natural, and we would like to provide you with the latest available data, always).
Cloud ERP systems run on cloud environments (no surprises there) and allow network access for the authorized users and administrators. The collected data is stored and processed over servers, and designated cloud providers handle the deployment and management. For enterprises of all types, cloud ERP systems are key business drivers. They provide many advantages such as faster implementation, agility, scalability, customization, ease of upgrades, better security, regulatory compliance, and recovery practices.
Implementing Cloud ERP Systems in Higher Education
To understand the need for cloud ERP systems, we need to compare them with already existing systems. Traditional on-premise ERP systems may be holding institutions back from becoming agile institutions enabling modern teaching, learning, and research atmospheres. As with most industries, education is also experiencing an influx of technological solutions and adapts to be a part of the change. This means that there is a need to have better information access, social and collaborative environments, real-time analytics, and 24x7 support. Additionally, higher education institutions also need to incorporate accumulating and growing data and compatible management and analytics.
Regardless of specific needs varying according to different institutions, here are some common considerations to implement cloud ERP systems and the corresponding benefits these considerations bring in.
- Security - Resource pooling and elasticity in a secure environment
- Configurability - Improved customization, agility, & scalability
- Analytic capability - Real-time data access for faster results and productivity
- Integration - Improved connectivity with internal and external networks
- User Experience - Easy access protocols and collaborative environment
Cloud ERP systems meet modern-day digital requirements and offer sophisticated data access and analysis with built-in collaboration and social features.
Steps to Consider in Successfully Deploying Cloud ERP Systems
Cloud ERP systems eliminate the need for extensive projects and heavy customization of IT infrastructures. The subscription-based system also brings long-term cost benefits to higher education institutions, and these benefits can be allocated to further other pressing projects. Deploying cloud ERP systems as a strategy includes considering the following steps depending on the stakes involved and the results intended.
Step 1 - Secure financing and resource allocations.
Step 2 - Consider all potential users and stakeholders.
Step 3 - Define goals and progress milestones.
Step 4 - Make space for changes in the future.
Step 5 - Evaluate changes to existing IT infrastructure.
Step 6 - Select a preferable deployment approach - comprehensive, incremental, or hybrid.
Step 7 - Take feedback, analytics, and reporting mechanisms into account early on.
VEXXHOST Cloud to Help in Implementation
Higher education institutions can accomplish their ERP goals with the VEXXHOST cloud, helping them manage costs, achieve efficiency in operations, and focus on the innovations for the future. Institutions use public, private, or hybrids clouds to deploy their cloud ERP systems. At VEXXHOST, our cloud services are based on OpenStack, making the environments free from licensing fees or vendor lockins. For many of our clients, private clouds are the preferred choice because of their highly scalable and secure nature.
Speaking of private clouds, you can now run on a fully agile and customized cloud from VEXXHOST, with no licensing fees and smooth 2-week migration. In fact, we're ready to put our money where our mouth is. We're so confident in being able to save you at least 20% or more on your current cloud infrastructure expenditure that if proven wrong- we'll give you $1,000 credit to our public cloud.
Excited? Find out more.