Whatever tomorrow holds, the cloud is helping finance say “yes”
As cloud has become the standard across finance today, it has become a basic requirement for finance teams that want to establish a competitive footing. Those that aren’t using the cloud simply can’t attain the same level of finance agility.
As the pace of change accelerates, the flexibility and agility offered by cloud are only going to become more important for finance teams. With fast accessibility, easy integration between multiple apps and lines of business, and the ability to make major changes at speed, cloud plays a critical role in enabling agility in finance, and across the business.
Being able to react to new opportunities, pivot around new challenges, and constantly keep pace with best practice means that finance teams aren’t just ready for tomorrow—they’re poised and waiting to embrace whatever it brings.
The best practices drawing finance to the cloud
With best-practice processes baked into applications, cloud services make it easier to disseminate standardized best practices across an organization, which can lead to higher productivity and performance. Here are five best practices that the cloud has helped finance teams adapt to and embrace:
Gaining a single source of truth for all finance data
Utilizing rolling forecasts
Driver-based planning and budgeting
Fast financial close processes
Speedy external reporting
We asked what you can do in the cloud that you couldn’t before. Here’s what you said:
“Connected enterprise planning”
“Easier implementation”
“Produce full monthly reporting packages within 4 days of month end”
“Generate a P&L at the press of a button”
“Easily generate reports that meet customer needs”