Time to Deployment
One of the benefits of cloud computing is increased efficiency; services are rapidly deployed and ready for use in a matter of minutes versus the weeks or months it traditionally takes.
Simply put, cloud computing is Internet-based.
Because the cloud does not require hardware, a cloud financial system can be implemented swiftly, without the need for extra components. This places sophisticated financial tools in the possession of the end-user easily and efficiently.
The Aberdeen Group looked at the benefits of a cloud-based ERP deployment. Their report showed the ERP vendor hosting the solution saved companies money on hardware, maintenance and IT staff. The report found that companies were more likely to stay within budget with a cloud-based deployment as compared to organizations implementing an on-premises ERP solution. Furthermore, Aberdeen found that organizations deploying a cloud-based solution reached a return on their investment (ROI) within 24 months, while organizations deploying their ERP solution on premises reached ROI in 31 months.
What are some of the other benefits to a cloud-based solution?
Faster Time to Value
Cloud deployment means you get up and running fast. Time to value with cloud solutions is significantly lower than with on-premises applications. A “go live” for cloud solutions takes typically two to three quarters, whereas full implementation of an on-premises solutions can take two to three years. Not only is implementation time reduced, but the IT resources required to roll out cloud solutions are much smaller.
Speed of Implementation
With traditional software, deployment is typically a lengthy process involving IT experts, a full assessment of requirements and internal staff resources to ensure a smooth implementation. A cloud-based solution doesn’t require the infrastructure and system software, so the implementation is easier and the advantages of the solution are felt sooner.
Faster Delivery of New Functionality
Cloud-based software providers can schedule updates automatically, with little or no disturbance to users. This ensures the latest and greatest software is always available and the user interface remains modern and can keep up with business demands.
Immediate Access. Anywhere. Anytime.
Cloud deployment means you gain instant access to the fully automated tools your teams need to make more informed decisions. And whether your workforce is located in the same building, different states or on the other side of the globe—cloud deployment means you're all working in unison.
As you can see, time to deployment is another great reason to move your financial system to the cloud. Better ROI, faster time to value, speed of implementation and faster delivery of new functionality all add up to a better software solution for your business.