Cloud or on-premise? Answers to a CFO’s key technology question
4th February 2022
Technology is no longer a nice-to-have for finance professionals. It’s front-and-centre at the heart of modern business management. And that means today’s FD or CFO is faced with plenty of new decisions about technology.
What strategy to pursue. What to buy, and when.
The CFO may have the help of an in-house technology specialist (for example, the CTO), or indeed a trusted advisor like Datel. Either way, technology decisions are increasingly landing in the finance team’s in-tray; because they are strategic decisions which will affect the company’s performance and trajectory for the next two-to-five years.
It’s crucial that finance professionals understand the key levers of some of these decisions, because there’s no time to waste. Like everyone else, the finance team is part of a shared, data-powered experience. If you hold on to creaking old systems, you’ll not be wringing out extra value, you’ll be holding back the whole business.
And if you are thinking of upgrading your finance systems, a key question will be whether to invest in a local (or ‘on-premise’) system, or to move to the cloud.
On the one hand, cloud services are ideal for the financially-focused CFO. They require no upfront investment, ultimately converting IT costs from CapEx to OpEx; and often there’s no contractual commitment (it’s pay-as-you-go).
On the other hand, they also raise questions for the compliance-minded CFO. Is data safe and secure? Can a cloud provider be trusted with our brand?
To help you make the right technology decision for your business, Datel has created a “Buyer’s Guide to moving to the Cloud”. It offers a balanced perspective on both sides of the argument; to help you make informed decisions, whatever technologies you’re planning to buy.
Technology never stands still, and the right answer is unlikely to be completely black and white. It will involve your strategy, attitude to risk and the nature of your in-house resources; alongside current best practice. We’ll be delighted to help you decide with confidence.
To find out more download Datel’s “Buyer’s Guide to moving to the Cloud”.