Is there anything not moving to the cloud these days? Hello, 2014! The cloud is becoming more and more popular for everything from data storage to document sharing to application services. You can copy files from your computer to a spot on the internet and then access them on the road. You can log into your account and manage your available resources online from anywhere. You can even set up a full desktop out on the cloud. Cloud offerings have the full spectrum of services with complete security and 100% uptime. Wow. So, now we’re all thinking ‘Why should my company perform its financial planning in the cloud? That’s what we were all thinking, right? While there may be lots of compelling reasons to do your financial planning in the cloud, here are the top 5 reasons you should consider making the switch.
- Increased accessibility
- Reduced reliance on IT
- Reduced Costs
- Environmentally friendly
For this blog, let’s spend some time talking about accessibility of reporting and analytics.
Accessibility of data from anywhere on the planet certainly has its advantages. Maybe your CFO travels the country and needs to download updated financial reports on the fly. Or even worse, your lead FP&A guru is on vacation but you need an answer yesterday! Since data stored in Cloud enterprise performance management (EPM) systems is available online at any time, both your CFO and sun-tanning FP&A guru will be able to simply log into a secure website and have all of their options at their fingertips. The Cloud EPM applications can be accessed in the same way as many of the on-premise solutions, making the transition seamless. With a Cloud EPM solution, the sky’s the limit – unless you buy the in-flight wifi!
Stayed tuned for part 2 of this blog series, 5 Reasons to do Your Financial Planning in the Cloud.
POSTED BY: Barisa Johnson