Predicting the future is no easy task, however Gartner takes on the challenge in the report Predicts 2016: Financial Management Applications.
Despite the title, we believe that its conclusions are applicable on 2017 as well. And the result comes as no surprise: financial management business applications are currently going through a period of substantial change, and a growing number of enterprises are embracing the cloud. And it looks like this is just the beginning.
Cloud-based financial systems on the rise
Growing need for real-time data and analysis
Flexibility and scalability
Change is the only constant, and modern companies must adapt to this reality. The CFO needs to look for ways to provide flexibility and scalability to the organisation. According to Bolander, a cloud-based finance management system can be a solution for companies coping with the ever-evolving business landscape.
Increased operating efficiency
Time is one of today’s most valuable assets, and CFOs are on the continuous quest to find increased efficiency. As a cloud-based system enables the finance department to spend less time on manual tasks and instead focus on value adding activities, this can help increase the overall efficiency. Also, with a cloud-based system there is no need to spend lots of time working outside the existing system to gather information and control processes. Instead, they can access real-time information in seconds.
Automate your P2P process in the cloud
Would you like to know more about how you can automate the purchase to pay (P2P) process in the cloud? At Palette we offer modern solutions for P2P as SaaS. Read about our different could based solutions here.
Find out more about Palette AP Automation here.