Shelby Klingerman, Content Curator |
Moving to the Cloud is becoming an increasingly enticing option for some businesses. Everyone has their reasons for wanting to make the transition but here are several statistics that show some of the issues with existing ERP systems:
- Over 60 percent of ERP implementations take longer than expected.
- Almost 75 percent of ERP projects exceed budget.
- Over 65 percent of businesses reported that they need a solution with more industry-specific functionality than their current ERP system.
Even though many organizations remain happy with their PeopleSoft application despite these statistics, there are still several strong drivers that are pushing businesses toward moving to the Cloud:
- Large amounts of customizations are challenging to manage.
- System hygiene has been neglected, making it more difficult to use.
- Escalating IT costs.
- Investing in a new product rather than maintaining the old system is an attractive option.
- The desire to support a digital transformation.
Cloud will have its advantages and disadvantages, like any other system, depending on what you are looking for in a system. However, it is important to establish how it can work for your specific organization and what the best way is for your company to make the transition.
To get some advice about moving to Cloud, important business components to consider and how to define your starting point, check out the video below:
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