In mid-August, Saugatuck Technology made the case for Cloud finance CPM & BI Software in its most recently published industry analysis report. The report includes perspectives from a wide range of CFOs, senior FP&A managers, Controllers, and other finance leaders. You can read Saugatuck’s full 11-page analysis here.
To understand the basis of the case for cloud finance tools, see below for a comparison of finance system challenges and business improvements from cloud-based systems within the first year of use, as reported by financial executives between 2008 – 2013.
Most-cited Challenges with Existing Finance Systems, 2008 – 2013
Business Improvements from Cloud-based Systems
As you can see from the above charts, finance leaders surveyed by Saugatuck have found that cloud-based finance tools for reporting, planning, and analytics meet their finance team’s most pressing needs. No doubt, this is one of the main drivers behind the exponential adoption of cloud finance software, such as the explosion of visual analytics tools within corporate finance teams that TDWI detailed earlier this year.
Adaptive Helps Mayo Clinic Convert to the Cloud
The Saugatuck report includes several detailed interviews with finance leaders such as Robert Scrimshaw, Senior Finance Analyst for Mayo Clinic Health Solutions, who said the Clinic does all of its, “budgeting, planning, reporting, and analyzing in the cloud, with the Adaptive solutions.” As a result, Scrimshaw said the time it takes to complete a financial plan has declined from about four months, to hours or days, and, “greatly improved ease of adding new pharmacies and other new businesses,” according to Scrimshaw.
Download and read the full report to find out what financial leaders at the Mayo Clinic Health Solutions, ARC Thrift Stores, and Bridgestone Industrial Products had to say about the benefits they’ve realized since implementing the Adaptive Planning CPM & BI software suite!