When Microsoft Dynamics GP was updated and became available in the cloud, for the first time, companies could purchase a subscription to financial accounting software built on Dynamics GP.
But is Dynamics GP in the cloud the right fit for your company? Here are several key facts to consider about cloud-based Dynamics GP as you research options for accounting software.
- Dynamics GP in the cloud is no different from the on-premises version: The only difference is how it’s accessed and paid for. With some vendors, access is as simple as logging on to a portal via a mobile device. The application launches right out of the portal. But, again, remember that the application itself is the same as the on-premises Dynamics GP.
- Subscription costs are less: Cloud ERP is cheaper because you don’t have to pay the support costs that you do with on-premises solutions. On-premises upgrades typically require new hardware, which is expensive.
- The cloud allows for flexibility with the number of users: The cloud solution is more agile, allowing companies to adjust the number of users up or down, while on-premises solutions only let you add users. Companies often want to consolidate the users they have. For instance, they might have 15 users today, and therefore 15 licenses they’re paying maintenance on. Later, they may realize they only need seven licenses, but with the on-premises software they can’t reduce that number. With a cloud solution, companies can lower the number of users, which saves the business money.
- Upgrades are easier: Customers have reported that Microsoft seems to roll out updates for its cloud solutions faster than for its on-premises solutions. This is true. Cloud ERP software is designed to be upgraded automatically. With on-premises solutions, you’re paying for the rights to the software, but you also have to pay for someone to set up and implement upgrades such as new hardware, database updates and Windows Server software upgrades. This effort costs a lot of money and time.
- Integrations are instantaneous: When you’re using Dynamics GP in the cloud, integrations with other applications are built in. This integration is much cheaper than using an on-premises scenario, where if you want applications to work together, you have to pay an IT development firm to write the integration. And remember, application development work is about the most expensive type of work. Large organizations have spent millions on enterprise application development. Now, small- to medium-sized businesses can get it inside a cloud environment, enabling all customers to benefit from the integration. In the cloud, integration from your ERP to your CRM is already there. Companies don’t have to pay to get it built from scratch. There’s a monthly fee, sure, but this fee is far less than the cost of paying someone to build the integration for you.
Building your company’s financial accounting efforts on Dynamics GP is a smart idea. And considering the flexibility with the number of users, upgrades, integration and built-in IT support, using a cloud ERP vendor to access the software is even better.