4 Ways the Cloud Enables Financial Transformation

In today's business economy that frequently seems to operate in fast forward, the bulletproof master plan for financial business transformation is non-existent. A successful financial transformation depends on establishing the right approach from the beginning within the right environment designed to deliver your firm's unique organizational goals.

Embracing and leveraging new technologies and business models will set the stage for a smoother transition. The primary tool used for financial transformation is an end-to-end Enterprise Resource Planning system. But transformation goes beyond just adopting a new system, it also involves how that system is deployed.

The Cloud is playing a key role in enabling financial transformation. 62% of companies committed to transformation have either deployed financial tools in the cloud or plan to in the near future.

Cloud ERP enables financial transformation by enabling collaboration between finance and line of business personnel by providing stakeholders with anywhere, anytime access to relevant, real-time data. Let’s break down how that happens:

  1. The cloud provides real-time data repositories that provide easy to access, sharable, accurate financial information to enable effective reporting, compliance, and operational support.
  2. Cloud ERP solutions allow secure, permission-based collaboration on financial data with individuals and teams both inside and outside the organization.
  3. Cloud ERP systems automate and streamline financial transactions and enable the use of mobile devices in the financial management process.
  4. The cloud supports change by allowing user counts or data storage capabilities to be scaled on a temporary basis for busy seasons or to grow user counts as the business expands.

To see if Cloud ERP would be a good option to support your organizational financial transformation, get an Instant Deployment Recommendation here.

Isn't it time for you to embrace the cloud, leverage your productivity and maximize your roadmap for financial transformation?

By Socius, Ohio Cloud ERP Partner (www.socius1.com)

Source: Aberdeen Research

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