What CFOs Should Know About the Cloud

Some enterprise finance functions have been slower to adopt cloud-based computing than other business functions. Is this caution justified?  The cloud is now firmly established in our business vocabulary, yet its appeal is not universal. In broad terms, the finance function has been slower to adopt cloud-based processing than other business functions. But is this unwillingness to take the plunge—or, in some cases, even to dip a toe in the water—fully justified?

Recent research indicates that as the cloud market begins to mature, the primary motive for a move to the cloud is no longer cost (as it was in the early days), but rather the potential for process improvement, often triggered by an impending upgrade or withdrawal of support for a legacy system. However, there is no denying that the transition is challenging as organizations seek to integrate processes that straddle the cloud and on-premise worlds.

So CFOs were probably right to be cautious about the cloud, but now that the market is maturing and larger vendors are offering cloud-based applications, the opportunities for enhanced competitiveness, productivity, and organizational responsiveness are likely to become too tempting to resist. 

Learn more about "What CFOs should know about the Cloud" and other CFO solutions at our C-Central, Information for Executives website.

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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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