Cloud computing powers finance to new heights

Marc Linden | October 01, 2019

Cloud computing powers finance to new heights
The pace of change in the macro business environment is unrelenting and accelerating as we move toward a global, digital economy. Theres a pressing need for finance teams to step up to this strategic role in today’s world. The International Federation of Accountants issued this wake-up call Yes, the essential nature of the tactical role will endure ensuring the integrity of the business’s transactional reporting. However, the CFO and controller can deliver far more value when they can rise above debits and credits, achieve greater visibility into what the underlying numbers mean, uncover important insights, and answer important strategic questions. This underscores the need for faster, collaborative decision-making driven by data, not hunches.Unfortunately, in many finance departments, outdated legacy accounting systems are hamstringing those efforts. Systems that were once state of the art simply can’t keep up, leading many companies, perhaps reluctantly, to consider replacing their financial applications. It’s now time to bite this bullet. In important ways, the risk doesn’t lie in moving to the cloud it lies in not moving to the cloud.

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