One of the latest software to hit the market for small businesses/startups is the SAP Anywhere. Small businesses/startups can sometimes have as many as ten employees. But managing multiple functions such as inventory tracking, asset tracking, and orders can be a huge challenge for small businesses.
Rise of cloud based platforms
Cloud platforms are revolutionizing small businesses in a big way. From $67 billion worth of market value in 2015, cloud computing is expected to grow at 19% to reach $160 billion by 2020. Small businesses are adopting Software as a Service (SaaS) increasingly and a study predicts there could be a drastic growth in cloud usage by the end of 2017.
Currently about nine million small to medium businesses are on the cloud according to a study by Microsoft. Close to 40% of small businesses will adopt the cloud platform by 2018, according to a report by Forbes. SaaS is a major part of the cloud and is set to become the mainstay of small businesses according to experts.
About 94% of small to medium businesses in the U.S. are expected to adopt SaaS by end of 2017. Small businesses with a number of employees ranging from ten to 200 are expected to double their use of SaaS applications in their businesses according to experts.
Benefits of cloud based software for small businesses
Work from any location: The best use of the cloud based software is that it lets businesses access data from anywhere around the world. Being physically present in the stores or warehouses is not required to perform asset tracking or for tracking inventory. Small business owners can now work from airport lounges or hotels with just a smartphone and Internet.
All that is needed to view, edit, and review asset tracking is an Internet connection. By logging in with a password and user ID, business owners can access and save any asset tracking information on the go.
No maintenance : Small businesses do not have to worry about internal technology investment when they adopt cloud services. Just like the car or home rentals, cloud services need no huge capital investment other than a monthly subscription. Small businesses are saved the worries related also to upgrades, maintenance, and security. Storage issues on computers are also a thing of the past when small businesses adopt cloud for asset tracking.
Investing in IT department also involves huge costs for small businesses. Cloud services take on the IT functions which mean optimization of costs for small businesses.
Cost effective: With no upfront fees and costly upgrades or security threats, small businesses can optimize their profits. Affordable subscription or usage fees make cloud services the most economical way for asset tracking for small businesses.
Increased collaboration: Using cloud based software for asset tracking improves collaboration and communication within the small business units. Cloud or SaaS services enable multiple employees to view, edit or update asset tracking information which keeps everyone updated. With instant and real time data available, elaborate and time-consuming communications regarding assets are avoided.