What are the top 5 benefits of a cloud ERP?

As more and more solutions are made available on the cloud, more and more businesses are flocking to use them. One increasingly popular solution is cloud-based enterprise resource planning (ERP). If you want to integrate your systems using an ERP, then you should seriously consider a cloud-based ERP.
Define: Cloud-based ERP
ERP is management software, usually offered as a bundle of applications, that aims to help businesses automate the collection, storage, management, and interpretation of data from various sources like accounting, inventory, marketing, service delivery, etc.