Finance teams open up about their new cash cow
Avoiding upgrades isn’t just beneficial in terms of the time and effort it helps finance teams save. It also leaves them with more money in their pocket at the end of the day.
Automatic updates in the cloud remove the need for on-premises upgrades to ERP and EPM systems. So instead of having to invest capital in gaining the latest and greatest finance capabilities, teams can allocate those funds to strategic innovation projects—or just hold onto the budget to help seize new opportunities as they emerge.
Economic considerations are the key motivators for moving finance to the cloud, including:
46 percent avoiding infrastructure investments
38 percent lowering the total cost of ownership
But it’s not just avoiding upgrades that has made the cloud such a lucrative cash cow for Finance. The predictability that comes with solutions that are delivered “as a service” in the cloud also makes it much easier to control costs.
With no steep upfront costs to pay to acquire the solutions finance needs, and the ability to accurately forecast costs over time, the cloud provides three things Finance loves—predictability, reliability, and flexibility.