Benefits of Cloud Computing for the Finance Department

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The demands on the finance department—from real-time reporting to global consolidation—have increased significantly as financial software choices have become much more complex. By embracing new-breed ­financial software solutions, organizations of all sizes are achieving and enjoying the unprecedented ‑flexibility of anytime/anywhere instant-access to fi­nancial data, reports, transactions, and analysis.

This flexibility comes to us through cloud computing. You’ve probably heard it before. Cloud computing is flexible, affordable, and scalable, but what does this mean for your finance department? Many companies are still a bit leery putting their financial information in the cloud for obvious security concerns. But do these concerns outweigh the benefits cloud computing could mean for your enterprise? Let’s a take a look at the few headaches our finance department deals with on a daily basis and how cloud computing could alleviate these:

Multiple team members need to make budgetary updates or changes to one document, so your employees end up passing around a spreadsheet until you have no idea who has the more updated version. And if you have your accounting solution on-premises, what about your remote employees? Can they access your database anytime and anywhere?

With cloud computing, you can assure every employee has access to the same database at any time and can make changes to pertinent financial information, keeping your data accurate and timely for when reports need to be pulled.

Another big headache is dishing out the capital expense on-premises software entails. You need to know far in advance whether you have that type of cash flow available or whether you need to save in order to get your accounting processes streamlined.

Cloud computing’s subscription based payment module is a huge benefit for businesses, large or small. You can approach the payments as a monthly cost instead of an enormous investment that will slow down cash flow and create stress among stakeholders and employees.

There’s really only one way to find out if cloud computing is right for you and that’s to ask the right questions by contacting an expert. We here at Sherwood Systems are happy to review your unique business needs and have years of experience that are sure to make the consultation process a breeze; contact us today for more information.

By Sherwood Systems, an Arizona Microsoft Dynamics GP Partner

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2 questions

  1. Cloud computing makes data processing much more easier for the client side.However,the information leaking problem is quite obvious with not doubt.

    [Reply]

  2. It’s uncountable that cloud computing is an advantage concept.In small company,data centralization is the start point of this concept already.

    [Reply]

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