This is no ordinary ‘another day, another dollar’ type of day—no.
For a Finance head, this is the day where all the pent up stress and frustrations finally struck him. With all the tight report deadlines which make things more complicated at work, he is in dire need of a solution that will allow him to see the overall profitability of the company, particularly in finance and accounting. On top of that, he also wishes to establish a work and life balance. In his case, being the resident office geek and a married man with two kids is definitely no easy feat. Fueled with determination, he consulted his trusted companion, a reliable best friend—the internet.
That’s when he saw the cloud.
Since evident challenges arise from having a manual, in-house, and outdated software such as having no ERP system at all, turning to a financial management solution with cloud computing capabilities that would help systematize related office functions will be the smartest decision. Say goodbye to uncertain inventory levels, inconsistent quality assurance processes, and no centralized reporting systems.
This is what happens when you turn to the cloud
Through the support of cloud ERP solutions, like Oracle NetSuite for instance, companies are able to manage, monitor, and control business processes through a financial management system that can easily be accessed through a few clicks and scrolls.
Cloud software subsequently provide assistance and support through PAIRS:
• PREVENT financial shortfalls through proper allocation of budget and spending.
• AVOID incurred cost on quality failure via a well-designed, implemented, and maintained quality management system.
• IMPROVE purchasing and procurement processes as well increase the fill rate of sales orders.
• REDUCE inventory levels to sell faster through optimization of storage or stock space.
• SAVE manpower or outsourcing cost on report management through a centralized financial data-keeping system.
It is then through the cloud.
Here are more reasons why Finance heads should consider cloud based solutions:
1. Reduced cost
Numerous companies turn to cloud systems in order to lower operational expenses which then improve competitive advantage. The absence of hardware and software maintenance fees and the reduction of manpower expenses are also a huge plus.
2. Real-time and visible
Businesses can easily track financial activities with real-time and visible data. If our resident Finance head happens to manage numerous accounts and his boss suddenly wants both individual and overall reports, he can simply log to the cloud where the data are already presented. Also if the reports are stacked in pages and an unforeseen incident occurred, the data can certainly be lost especially if there is no back-up. Not only can companies reduce paper waste, they efficiently help save trees, too.
In today’s time, technology is already embedded in our everyday lives which, no doubt, makes our lives easier and simpler. With cloud systems being highly automated, there would be less data entry errors and more accurate and precise reports which do not only reduce the time spent during manual reviews but increase productivity as well.
Being with the cloud
Finally logging off, our resident Finance head had successfully found a solution for his setback. With a cloud solution, he is rather satisfied with the newly found efficient way of planning, organizing, and controlling of financial activities which he could easily access through online and on mobile which puts his analytical and process-driven side at ease. He finally restored balance in his work and life with only a few clicks on the internet and with the help of a business process management software in the form of a white tuff of squiggly lines of a rough ellipse.
It’s time to turn to the cloud.
About the author:
Eliza Tarlac is a content writer for Marketing. She is a graduate of Bachelor of Arts, Cum Laude, major in English Language Studies from the University of Santo Tomas. As a writer, she is passionate in technical, academic, and creative writing where she strives to transform ideas and concepts to help businesses deliver their message and establish their brand.