21 Percent of organizations plan to move their core financial applications to a Software-as-a-Service model in within two years. This, a result of a 2013 Gartner Survey, contributes to something we like to consider the “Modern CFO,” an industry leader who knows of the strategic technological improvements to make his or her company more agile.
This insight is a drop within a deluge of analyst love for cloud financial and ERP applications. Analysts from around the world are finding that clients are taking their financials to the cloud in droves:
- 41% of respondents are already using cloud-enabled services in finance, accounting, and financial management; 35% are likely to adopt such services in the next 18 months.” (KPMG)
- 47% of organizations plan to move their core ERP systems to the cloud within five years (Gartner)
This barely scratches the surface of the research into the future of cloud financial management and ERP. Some would go so far as saying, “It’s not a matter of ‘if,’ but a matter of ‘when.’” What is driving modern CFOs to choose cloud? A study boiled it down to three very concise points:
- Efficiency and cost savings: Respondents in aforementioned KPMG survey found that the cloud is already delivering savings through price certainty, pay-as-you-need scalability, and improved IT strategy.
- Change and choice: With the increasing maturity of the cloud market, comes the increased availability of enterprise-ready applications. This creates an innovation competition, and traditional vendors with a vast history and rich heritage are bringing their applications to the cloud. The hybrid approach is allowing enterprises the opportunity to move applications to the cloud in a controlled fashion.
- Flexibility: The inception of the cloud has encouraged a new generation of applications written specifically for the cloud, all of which offer significant functional improvements over older legacy applications.
What was once just a cost minimization strategy for small and medium businesses is now has a profound effect on even the largest multinational organizations. Smart CFOs are moving to the cloud at an astounding rate, and if you wait too long, you will miss out.
This is why we would like to welcome you to learn more about our cloud solutions for your small, mid-market, or large business. Subscribe to our blog to get the latest news, and contact us to learn more.
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