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Nelson: Cloud’s biggest impact is on finance

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16th Sep 2011
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Cloud computing’s most profound impact is on finance professionals, according to Zach Nelson, the CEO of online ERP provider Netsuite.

This year has seen an acceleration in the move to the Cloud, he noted in a video preview for the Business Cloud Summit on 5 December (see below). As the Cloud has become a platform for complex applications such as ERP, he said, ”It’s been interesting to watch the transform of finance as Cloud applications come into finance departments.”

Two things happen, he continued: “It streamlines finance processes, but also democratises data so the entire organisation has access to it.”

On premise finance and ERP software has traditionally only made information available to the finance team members who used it. CEOs and sales managers would then have to ask them for comparative figures and ad hoc reports.

Not only can Cloud applications like Netsuite’s OneWorld cope with multi-national, multi-company consolidations, end users can now access that data too, Nelson said.

While the surge in Cloud computing has generated a perception of it as technology’s latest big trend, Nelson pointed out that it’s been a long time coming. “In the past 50 years we’ve been going through revolutions in telephony and computing. When those two revolutions come together, we’re going to get a sea change in how we run our lives and operate our businesses.

“We’re just at the beginning of a new phase of Cloud; there will be more mobility, more social activity within business applications. There’s a lot going on in the Cloud. There’s a lot to talk about. I look forward to seeing you at the conference on 5 December.”

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