{"id":1677,"date":"2016-06-06T06:40:28","date_gmt":"2016-06-06T12:40:28","guid":{"rendered":"https:\/\/erpsoftwareblog.com\/cloud\/?p=1677"},"modified":"2016-06-05T11:44:36","modified_gmt":"2016-06-05T17:44:36","slug":"5-ways-finance-falls-behind-technology-race-move-ahead","status":"publish","type":"post","link":"https:\/\/erpsoftwareblog.com\/cloud\/2016\/06\/5-ways-finance-falls-behind-technology-race-move-ahead\/","title":{"rendered":"5 Ways Finance Falls Behind in the Technology Race and How to Move Ahead"},"content":{"rendered":"

\"falling_behind_race_sm\"
\nLet\u2019s face the facts. Modern cloud-based ERP systems are the wave of the future. Why? Because their benefits outrun on-premise options. One major advantage is that a true cloud system ensures ongoing, regular, and non-disruptive innovation<\/strong>. For example, with a cloud ERP system like Intacct<\/a>, upgrades and improvements come every quarter without major headaches for users. I\u2019ve cited 10 more major benefits here: Understanding the Full Value of the Cloud<\/a>.<\/p>\n

But what if you\u2019re not taking advantage of this value yet? Here are 5 ways your finance department can fall behind if they choose to wait to adopt a modern system:<\/p>\n

1 \u2013 You Become Increasingly Ineffective<\/strong> \u2013 Without modern automation, especially in an entry-level or similar system<\/a>, Finance falls into an \u201ceffectiveness gap,\u201d where they are only 35-53% effective* in doing important priorities like budgeting, forecasting, transactions, compliance, measuring profitability, and providing input for strategic decision making.<\/p>\n

2 \u2013 You Eat Hidden Costs of Manual Processes and Lack of Automation<\/strong> \u2013 Hours are wasted trapped in spreadsheets, entering data, and doing manual processes that could be automated and free up resources for more strategic activities.<\/p>\n

3 \u2013 Finance Can\u2019t Help Executives with Strategy and Business Management<\/strong> \u2013 Cloud financial management solutions<\/a> have powerful Dashboards and reporting features that enable Finance and executives to analyze accurate, real-time data that drives strategy. Without those capabilities, management often runs blind.<\/p>\n

4 \u2013 While Others Innovate, You Stagnate<\/strong> \u2013 Traditional on-premise accounting solutions can only innovate so fast and when upgrades are made, they are disruptive. Cloud ERP solutions are continually innovating and improving without costly interruptions.<\/p>\n

5 \u2013 Your Organization is Less Able to Compete<\/strong> \u2013 When Finance and any organization is unable to keep up with technology, in this case, modern Cloud ERP systems, it\u2019s harder for them to compete in established markets. They are less able to see new or emerging opportunities.<\/p>\n

To move beyond these problems, your finance organization must be open to change, willing to identify pain points in your existing system, and begin making plans to evaluate a modern cloud solution. Any of the links in this article can get you started on a path to catch up with the pack and begin moving ahead.<\/p>\n

*A Saugatuck Technology study<\/p>\n

by Synergy Business Solutions<\/p>\n","protected":false},"excerpt":{"rendered":"

Let\u2019s face the facts. Modern cloud-based ERP systems are the wave of the future. Why? Because their benefits outrun on-premise options. One major advantage is that a true cloud system ensures ongoing, regular, and non-disruptive innovation. For example, with a cloud ERP system like Intacct, upgrades and improvements come every quarter without major headaches for […]<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5,14,10],"tags":[546,547,72,545,408,187,216,215],"class_list":["post-1677","post","type-post","status-publish","format-standard","hentry","category-intacct","category-compare-erp-systems","category-erp-software-research","tag-cloud-accounting","tag-cloud-accounting-benefits","tag-cloud-erp","tag-cloud-finance","tag-cloud-software","tag-erp-cloud","tag-seattle-intacct-partner","tag-washington-intacct-partner"],"acf":[],"_links":{"self":[{"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/posts\/1677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/comments?post=1677"}],"version-history":[{"count":0,"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/posts\/1677\/revisions"}],"wp:attachment":[{"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/media?parent=1677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/categories?post=1677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erpsoftwareblog.com\/cloud\/wp-json\/wp\/v2\/tags?post=1677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}