Implemented in just a few months or even weeks, a cloud financial system is able to work in sync with your business. Instead of acting as a brake on progress, cloud financials keep you ahead as they embrace and facilitate change. They deliver financial data in a business context that shows the real-world impact of decisions. They support speedy digital alternatives to error-prone, slow-moving paper processes. Plus, they have the connectivity and integration smarts to automatically consolidate business data. Rather than running in isolation from the rest of the business, cloud financials become an integral part of day-to-day operations, decision-making, and strategic planning.
Fast-moving enterprises understand the importance of right-time information to compete successfully in a digitally connected world. They recognize the risks of delay and the rapid advantages a cloud financial system brings their business.
According to the white paper: 7 Reasons to Move to Cloud Financials Now, the top reasons include:
⭐You Can’t Afford to Delay Change – A cloud financial system supports business agility because it offers the freedom to adapt rapidly, at the precise moment when it will be most impactful. Finance staff can easily reconfigure workflow or data points without needing to call for IT help. Automation makes it easier to manage and modify multi-step processes. Point-and-click menus allow employees to adapt reports and dashboards to track and analyze new cost centers, revenue streams, or other metrics. The business doesn’t have to hold back anymore on new initiatives for lack of proper systems to support them.
⭐Business Demands to Know Now – When financials run in the cloud, the data is available in real-time to stakeholders wherever they are. Even more valuable is the ability to combine it with operational data and business metrics. Putting finance into a business context allows far more accurate monitoring of how the business is performing. Metrics can be as diverse as customer acquisition cost, dollar churn or even tracking specific assets or projects.
⭐Information Logjams Cost You Money – A cloud financial system that’s designed to work in sync with other business functions can eliminate the need for workarounds and spreadsheets. Cloud systems connect easily and securely to other applications, especially customer-facing systems such as CRM and eCommerce. These automated connections bring data directly into the financial system for end-to-end processing, manipulation and analysis.
⭐You Want to be Thinking Ahead – In today’s fast-moving, digitally connected world, enterprises have to be on top of their game to survive
and thrive. Cloud financials provide flexible automation that frees up resources while right-time reporting delivers appropriate business metrics. Decision-makers and finance teams are spared time-consuming administrative tasks, becoming free to focus on timely, well-informed strategic analysis and planning.
The time to act is now. The challenges–and opportunities–facing businesses today aren’t getting any easier. This is no time to be saddled with inflexible systems that can’t adapt to change and growth or aren’t able to deliver timely information flows. Every day that passes without making the move to right-time financials adds to the mounting waste of resources and missed opportunities.
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