The financial data discussion has gained activity in recent years. Half the conversation is on this data’s vulnerability to cyberattacks and other instabilities. The other half explains this data’s value in analytics and strategic planning.
With so much depending on optimized financials, it’s essential to ask where to store this data to maximize its long-term value. The answer is almost unanimously in the cloud. Here are seven compelling reasons to quickly make the move:
- Add agility to your enterprise – Cloud financials can quickly and easily adapt to reflect changing circumstances. If and when you need a different perspective or approach, it’s easy to make revisions.
- Access real-time insights – Weeks-, days- or even hours-old data is of limited value. Data housed in the cloud is updated in real time and representative of current circumstances. The most actionable insights are immediately at your disposal.
- Reduce costs and redundancies – Cloud financials reduce your organization’s paper-based processes. An integrated and fully digitized data approach drastically reduces the overall administrative burden and helps reduce costs across the board.
- Automate heavy workflows – Your staff’s talent is wasted on a shocking amount of time dealing with routine data management. Cloud financials automate many of the heaviest workflows so your teams can use their true skills and abilities for more productive pursuits.
- Give the users control – Older financial systems are clunky and cumbersome, giving users little means to customize features and functions to their specific needs. The inherent flexibility of cloud financials empowers users to take a self-service approach and fully leverage the system’s capabilities.
- Accelerate your operations – Financial data in the cloud is accessible at any place and time. Once businesses embrace mobility and encourage online collaborations, they’re able to get much more done in much less time.
- Prepare for the future – Flexibility is key in finance, particularly during uncertain times. The cloud gives organizations a strategic advantage by automating distracting routines while enabling advanced analytics. The cloud’s capabilities make it possible to stay one step ahead of the competition.
At your earliest convenience, download this white paper exploring each of these points in depth. Today, cloud financials are an advantage—but they will soon become a necessity. Making the move sooner rather than later helps ensure that major opportunities aren’t lost.