Should you move your finance system to the Cloud?

By Andrew Hicks, Chief Financial Officer

Research shows the majority of businesses plan to move their finance systems to the Cloud. Here’s a comparison between Cloud-based financial management software and on-premise finance applications to help you decide whether to make the move.

In today’s fast-moving world, any new software system needs to support growth, drive performance and optimise processes. It needs to help organisations restructure and adapt quickly to unexpected change, while helping them overcome challenges caused by regulatory burdens and skills shortages.

Chief Financial Officers (CFOs), especially, need software that helps the business accelerate digital evolution, but with finance firmly in lockstep with the rest of the business. Reliance on legacy, on-premise technology and rigid data structures hinders this evolution; the result is often compromise, complacency and underperformance.

So, many turn to financial planning and analysis (FP&A) software which is Cloud-based; which incorporates intelligent technologies, integrates with other business systems and is delivered on a subscription basis.

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