85% will embrace the cloud in 2025
The evolution of cloud technology has transformed how we think and work in the digital age. Cloud gives us easy access to our data when, wherever, and however we want. Alone this reason should push finance professionals to consider moving to cloud-based software applications. Since technology in the business landscape has fundamentally changed how we work worldwide, numerous opportunities for organizations are apparent. It is easy to understand why when you look at the benefits cloud provides. The integration possibilities and streamlined data flow are to mention a few.
Gartner recently posted that by 2025 85% of organizations will embrace the cloud and even argues that "there is no business strategy, without a cloud strategy." Which raises the question have you implemented or formulated a cloud strategy yet? As the finance function is increasingly becoming the driver for business priorities, it is time to think, why not?
What have your streaming services in common with your Financial processes?
Are you still listening to music on records, CDs, or MP3 players? Probably not considering the popularity of online music streaming services such as Spotify, Tidal, and Google Play Music. One of these online streaming services has likely replaced your old records, CDs, and MP3 Players. We are not talking about the stereo or hip LP player at home.
Listening to music online is easier and more flexible. Your music is in one place and accessible no matter where you are. Regardless of which streaming service you subscribe to, they all share a common thread: They store your music online with unlimited space. Also, paying a monthly subscription is more accessible and less expensive than buying a new CD every time a new album releases.
The similarities between streaming services and financial software are much closer than you think. The way you store your music is the same way you should be storing your financial software. When you choose cloud software for your financial data, you will gain the same benefits as you enjoy from other cloud-based applications you already use today, like Spotify, Deezer, etc. With Spotify and other music streaming services in mind, consider the software you use for financial consolidation. Do you use locally installed software on a PC? Do you have as easy access to your financial data as you have to your music no matter where you are in the world?
The hidden fact is that, like with CDs, it is not just your behavior that dictates the development – but everyone else's behavior. So, if 85% of organizations go cloud by 2025, why aren't you?
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Konsolidator is a Scandinavian SaaS company that delivers a 100 % cloud-based consolidation tool.