There is an undeniable trend toward cloud-based finance solutions. In fact, 78% of respondents to the 2013 Everest Group enterprise cloud adoption survey noted successful adoption in 2013 or plans to adopt software as a service (SaaS) in 2014.
How do you know if a cloud-based finance solution is right for your organization? When crafting your business case for a move to the cloud, consider the following questions:
1. Cost—What are the total cost implications of moving to a cloud-based solution?
2. Process Standardization—Has your organization standardized core finance processes? If not, a cloud-based solution will escalate this need.
3. IT Capabilities—Is your IT function equipped with the necessary resources and skill sets to manage an on-site, owned solution? If not, a cloud-based solution can alleviate that concern.
4. 5-Year Outlook—Do you expect major changes to your business model or necessary finance support within the next five years? If so, it may not be worth the expense of migrating to a cloud-based solution.
Still have questions about cloud-based finance solutions? Click here to view the full presentation The Sky’s the Limit: Finance is Moving to the Cloud on SlideShare.