Enterprises want the ability to choose how to deploy, to have same functionality with no forced upgrades or restrictions on how to customise the application to suit their business model.
In today’s business environment, the benefits of implementing ERP are many. At the centre is meeting the needs of workers for efficient and productive tools. Here is where flexible, browser-based applications, that offer contextual analytics, are needed.
Businesses are looking to manage their supply chains. ERP delivers the tools to predict their supply needs and be highly collaborative for reduced supply disruptions
According to Epicor’s latest Industry Insights Report, 90% of decision-makers said moving to the cloud was worth the effort. With the cloud, stakeholders get a prebaked infrastructure. And the capital requirements for unlocking innovation potential are far less.
Cloud ERP solutions offer this same scalability and flexibility, permitting changes to business workflows without as much effort or investment. They also make prolonged upgrade cycles a thing of the past, as they are included in the subscription cost and managed by vendors and their partners.
“While the full potential of this solution is best realised when it is available as a SaaS offering, Epicor also offers the ability for this to be deployed on-premises,” says Epicor’s Kapoor.
Moving to cloud
There are two philosophies for implementing ERP, an all at once approach or a phased approach. For midsize businesses, a phased or modular approach lets them get the benefit of prioritising their greatest challenges in implementation, then extending or growing their use of ERP as they need to. This approach is favoured by most businesses as it ties the returned value to the cost and effort of implementation.
Leading businesses have a customer-focused strategy for success. ERP that delivers improved customer responsiveness and digital experiences through eCommerce and other applications, helps build an experience digitally where customers can self-serve highly tailored solutions, which is desired.
Enterprises are looking to have a choice for cloud, portability and parity. The ability to choose how to deploy the solution-either on cloud or on-premises, to have the exact same functional solution, with no forced timings for upgrades, or restrictions on how to customise the application to suit their business model allows customers to tailor the applications to make it their own.
“Enterprises want to optimise their agility to be able to react at speed whenever required,” says IFS’ Ersen.
Organisations also want a one-platform solution built for a specific industry, designed to improve granular processes and support high-level strategic decision-making with features and flexibility focused on that industry. The solution should efficiently perform in complex environments, seamlessly transition into the company’ ecosystem, and enable a delightful and intuitive user-experience.
Niche players
Global Business Travel Association revealed that on average 1 out of 5 reports have errors. Companies process around 51,000 expense reports each year meaning companies around the globe spend, on average, half a million dollars and nearly 3,000 hours correcting errors in expense reports annually, highlighting the need for integrated spend management software.
“Companies are looking to spend smarter, maximising ROI on every spend, automating processes and focusing on long-term sustainability over short-term growth,” says Qashio’s Moradi.
Due to elevated stress levels and constantly changing circumstances, it is common for funds to be misplaced or unaccounted for. The 2022 Global Payment Report by MasterCard reveals a significant drive to phase out cash and check payments for bills and government disbursements.
This shift will mainly affect petty cash usage, which can be efficiently addressed by the streamlined issuance of virtual and physical cards made possible by corporate cards and spend management SaaS companies.
The worldwide trend of transitioning to the latest version of spend management software, which provides analytical tools and simplifies the entire company’s expenses, has been especially prominent in the MENA region. Multiple factors have contributed to this, and it is expected to continue growing.
According to a recent global survey by Visa, 71% of SMEs in UAE, compared to 59% globally, reported being cashless or planning to go cashless by 2024. This trend aligns with the UAE and KSA governments’ visions.
While the first wave of fintech focused on digital payments, the next wave will be building the second layer of applications for fintech empowered by digital transactions. These innovative technologies are making hyper-personalised experiences a reality, which in turn is fuelling the demand for a 24×7 digital experience.
Enterprise customers
Al Shawamikh Oil Services, being early cloud adopters in the region, migrated from Epicor Kinetic on-premises to SaaS, which has enabled them to stay current with latest functionality and remain competitive.
Another of Epicor customers is Abu Dhabi Precast who transformed their business operations and introduced more transparency with Epicor Kinetic, so teams can better track budgets and expenditures at every phase. The data from Epicor platform provides visibility and tracking across more than 40 operational initiatives, pivotal in keeping operations and costs in check.
Arabian Plastic Industrial , who recently listed on the Saudi Exchange, moved to Epicor Kinetic deployed in the cloud to standardise business processes, support adherence to regulatory compliance demands, and optimise their financial and operational processes. The solution is supporting their strategic company objectives, to deliver innovative products and world-class customer-centric services.
Qashio has signed renowned brands and customers across Saudi Arabia and UAE and continues onboarding clients. These include well-known brands such as Eyewa, Nana, Alabbar Enterprises, Kitopi, Maids.cc, Yaa Foods, Al Shiha Group, Tasoru Holding, Instashop, Saif Belhasa, EFS Facilities Management Services Group, Bulldozer Group, among others.
Click below to share this articleDue to elevated stress levels and constantly changing circumstances, it is common for funds to be misplaced or unaccounted for.
