Modern finance leaders have evolved into a force to be reckoned with. They are taking on multiple roles across the organization, are responsible for driving strategic decisions, and are quickly becoming business leaders as well as the right hand to the CEO. However, going from number cruncher to finance superhero is not without obstacles. Many of today’s CFOs face a plethora of data without the adequate amount of time to analyze it.
That’s where SaaS comes in.
What’s so special about cloud-based SaaS solutions? After all, it’s the mind behind the money that is the real strategic powerhouse, right?
Hey, even superheroes need help too — hello, Batman and Robin! — and there are four main reasons why SaaS is inevitably the best sidekick around for an innovative finance leader.
1. No more costly upgrades or outdated software.
As is the nature of the cloud, SaaS solutions are always up to date with the latest and greatest advancements and technologies. It’s a huge hindrance to any software-based process when its success is reliant on anyone other than the users to maintain it. Not only is this costly in terms of time, productivity, and money, it defeats the purpose of an intuitive solution. SaaS providers’ solutions automatically update their cloud solutions, and those updates are immediately accessible to all users.
2. Accessibility and flexibility.
Cloud computing allows users to access their data anywhere, anytime. If you need a number on the fly, an employee can grab it from a smart phone or a tablet. Additionally, the flexibility of the cloud gives workers the ability to work remotely and across several business locations as needed.
3. Efficiency and scalability.
SaaS is scalable in a way that on-premises hardware never will be. Typical of a cloud ecosystem, SaaS solutions can usually calibrate to the needs of the organization without service interruptions or lulls in productivity. This lets you tailor a system to fit your organizational needs. Additionally, SaaS systems can integrate much more seamlessly with other SaaS solutions at no additional cost. The result is cloud-based management with minimal effort, leaving more time for analysis and strategizing.
4. Finance can make changes – no IT required!
Not all cloud solutions are created equal; systems designed for on-premises use and then “moved to the cloud” are still just as hard to change and manage, requiring technical intervention and reliance. Cloud solutions that are built from the cloud up – such as the Adaptive Insights product suite–are designed for business users to manage, change and update the solution, equipping them with the ability to work faster and smarter.
A welcome change from the traditional processes that have slowed down finance departments for decades, the power of the cloud continues to grow as the top cloud providers continue to innovate and disrupt the industry. If you’re looking for validation of this trend, look no further than Adaptive Insights’ 2015 Stratus Cloud award win for Cloud Disruptor of the Year–Enterprise.
“The underlying theme in this year’s Stratus Award program was ‘operational excellence,’” said Russ Fordyce, managing director for the Business Intelligence Group. “Each and every winner showed our judges how their innovations and execution strategies led to superior customer experiences and greater adoption of cloud-based services.”
As the responsibilities of finance departments continue to increase, the rate of cloud adoption also continues to heighten. If you are a finance professional and not using SaaS, just think about how much more of a superhero you could be with the right sidekick. Who knows? You may even be able to make it home in time for dinner.