Cloud technology has proven to be extremely beneficial in various ways for businesses. Now, the Finance Department is starting to give this technology a chance and slowly is realising that cloud could be a prime driver of innovation in finance.
SAP Community Network wrote about the topic and presented the key findings of the new Constellation Research report.
How CFOs Are Revealing The Deeper Benefits Of The Cloud
Is your organization still mired in the common myths about cloud adoption? If so, it’s time to bring some clarity to the finance office.
New business realities are shifting the goals of the finance organization and dictating the need for updated operations. Old fears are quickly being replaced by new innovations and opportunities – so more and more CFOs are taking the leap to the cloud.
These new adoptees are revealing cloud technology to be a prime driver of innovation in finance. Consider the new Constellation Research report, which examines the CFO view of cloud finance adoption. It turns numerous myths on their head, revealing the following:
- Privacy, intellectual property, and data are properly secure
- Customization is highly achievable
- We need to move beyond legal and regulatory compliance to meet ever-changing standards
Gaining rapid time to value
So what’s the crucial factor swaying CFOs’ decisions to move to the cloud? The rapid time to value their organizations are poised to gain. According to the report, the top three cloud benefits driving CFO strategy are:
- Rapid IT implementation that improves the quality of deployment
- More frequent cycles of innovation that yield competitive advantage
- Minimal upgrade hassles that free up time for greater focus on innovation
You can also support the identification, assessment, and management of growth across your enterprise – while driving efficiency and agility in finance operations. So much for the quaint notion that cloud was useful only for customer-facing workloads.
With these old myths out of the way, we can make room for more pressing questions for CFOs, like whether their organizations are ready for a broader adoption of the cloud model.
Get a deeper view of both the myths and benefits of cloud ERP when you read the full Constellation Research report.