Buyer’s Guide to moving to the Cloud
Everyone seems to be moving to the Cloud. There are aspects of financial management for which Excel is starting to look as old-fashioned as the pad and pencil! But changing software is complex, and there are many considerations. This guide will take you through the key questions and help you identify the right way forward for your business.
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Introduction to guide:
"The challenge: buying finance tech in a connected world
Technology is no longer a nice-to-have for finance professionals. It’s front-and-centre at the heart of modern business management.
But technology is also constantly moving forward. Next year’s tech will always be a step ahead of what’s on the market now, so it’s tempting to hold on to today’s familiar tools until they give out completely.
That used to be a reasonable argument, especially for the FD with an eye on the pennies. It made sense when each team operated in isolation, with their own localised IT systems.
But today, we’re all connected. Tools like ERP are the central nervous system of a business, sending signals across the operation. 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 ‘onpremise’) system, or to move to the cloud.
The cloud was initially just a safe place to keep data. Now, it’s a universal digital workspace to process everything we do; and an important contributor to business agility and competitiveness. Ignoring the cloud isn’t an option, and it comes with many attractive benefits including minimal upfront expenditure. But there are also some legitimate reasons to hold back.
In this guide, we’ll examine why these questions matter so much today and then look at both sides of the argument for a balanced approach which will help you make an informed decision."
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This guide covers:
Why you should move to the Cloud
Whether you should consider on-premise
How to start scoping your requirements
What to ask when reviewing software options
How to choose the right technology partner