Chief financial officers (CFOs) might be intrigued by cloud computing’s money saving potential, but they’re still being cautious about moving core financials to the cloud, according to market researchers.
But that will soon change, these experts predict, as finance organizations shake their outmoded fears about cloud security, and Software as a Service (SaaS) financial applications and cloud ERP reach parity with on-premises financial systems.
CFOs appear to be lagging other department heads in riding the cloud computing wave. A March survey of cloud and SaaS adoption plans by Westport, Conn., consultancy Saugatuck Technology Inc. showed organizations are rapidly moving away from on-premises systems toward a hybrid approach, which will be followed by a decisive shift within four years to “pure play” SaaS or cloud across industries. The survey also indicated broader adoption of SaaS implementation strategies and best practices for ensuring cloud technology delivers value to the business.
More on core financials
Read how some companies use SAP core financials
Learn how to implement core financials in Oracle E-Business Suite
See strategies for buying a financial accounting system
But Saugatuck said that “traditional enterprise business management IT,” especially what it calls “closer to the money” applications such as finance, accounting, budgeting, and reporting and planning as well as governance, risk and compliance (GRC) will be slower to migrate to public and private clouds,
We recommend you visit the following site for more complete information and related topics. Article source: http://searchfinancialapplications.techtarget.com/news/2240159034/SaaS-ERP-gains-may-ease-fears-of-moving-core-financials-to-the-cloud