Financial management cloud services – The future is in the cloud
Financial management cloud services usage has increased significantly over the last few years. And for a good reason. Scalable and automated financial management cloud services ease the daily life of the company’s IT staff. They free up working time from managing basic structures to genuinely valuable tasks. Financial management as a cloud service has given companies of all sizes access to a wide range of financial management applications flexibly, regardless of time and place, and cost-effectively. In financial management cloud services, there are no upfront investments: the service can be accessed quickly without its own data centers and servers or internal maintenance staff. Let’s take a closer look at what the future looks like in the cloud!
Financial management cloud services ensure an efficient and secure IT environment
When a company calculates the use of an external financial management system as a cloud service, it is important to consider all costs – not just savings in the initial investment in infrastructure. Transitioning into financial management cloud services does not simply mean moving away from traditional “data center IT” by leasing storage capacity elsewhere. It also means that your own IT staff does not have to worry about time-consuming day-to-day tasks such as running and updating IT systems, installing software, and configuring. Financial management system as a cloud service thus saves valuable man-hours. It allows the IT department to focus on growth and development instead of taking care of IT infrastructure.
Financial Management Cloud Service enables the use of the latest technologies and supports agile work. This PaaS (platform as a service) includes features such as artificial intelligence and machine learning, as well as various self-learning mechanisms to streamline and automate processes. The best financial management cloud service can even accelerate the pace of innovation. It makes it easy to test and implement new development ideas because the platform is flexible for different uses and quantities. In the cloud, new applications are easy to deploy and applications already in use can be continuously developed and fixed. In the cloud, new features will be available immediately, so the latest version will be in use automatically.
Financial management system as a cloud service does not mean compromising the level of security. Quite the opposite. Financial management cloud services are in principle more secure than a company’s internal IT infrastructure. The service provider of a public cloud i.e. infrastructure over the public Internet is able to invest many times more in security compared to a single company. The service provider’s data centers and processes are audited, certified and decentralized. Public cloud providers have a number of tools at their disposal to ensure and automate data security, as well as a variety of tactics to identify, prevent, and isolate attacks.
Financial Management Cloud Service enables time- and place-independent work as well as sufficient capacity
Financial Management Cloud Service facilitates telecommuting. Financial management software as a cloud service allows information to be shared transparently and in an agile manner. Cloud applications can be accessed from any device and with any Internet connection. Through the cloud app, everyone is looking at the same view and the same numbers. The numbers are reliable because there is only one version and one set of truth. The numbers are also always up to date: With financial management cloud service the data is updated in real time, so everyone always has the latest updated information available.
There may be a lot of data, but it is no longer a headache for the IT department. When financial management software as a cloud service is used, the service provider takes care of the storage space and capacity. There are generally peaks in financial administration in the autumn, when the next year is budgeted, and in the spring during annual closing. If the company does not use a financial management cloud service, the software is not flexible at dealing with the increased utilization rate, so the capacity will have to be oversized for the whole year. But if financial management system as a cloud service is used, this problem does not exist because financial management cloud service is flexible as needed. It scales to high usage volumes and workloads. Thus, a company’s financial management can focus on the essentials – such as budgeting and accounting – rather than hunting for new servers or disks at the most critical moment.
The best financial management cloud service turns IT from an expense into a resource
At Clausion, we offer cloud-based financial management solutions and services to make our customers’ daily lives easier.
Clausion’s corporate performance management solution is in Microsoft Azure, which is Microsoft’s public cloud service. Microsoft is a natural choice for several reasons. The company has comprehensive and secure processes and complies with all applicable laws and regulations for the providing of cloud services. In Azure, the customer always controls their own data. The data is stored on the disk and is also protected when transferred online. With Azure, the data is stored in the European Economic Area, and Azure’s service extends GDPR data protection rights worldwide, not just to Europe.
With Clausion’s financial management cloud service you may continue to use the same functionalities as in your local software. The subscriptions can be added and adapted to the system flexibly at any time. Clausion’s cloud service environment security, application security, and administrative processes are regularly audited by third parties. In addition, Clausion makes extensive use of Azure’s ready-made tools to monitor the cloud service and ensure consistency.
No organization today can afford not to map out the benefits of financial management cloud services. A public cloud provider like Microsoft Azure benefits from the economics of scale: it is always at the forefront of security, technology, and legislation. In the financial management cloud services infrastructures such as maintenance, guidance and capacity assurance are the responsibility of the service provider. It frees up the resources of your IT staff to support and develop your business. Financial management cloud services enable IT to become a resource rather than a cost.