Innovation in Cloud-Based Financial Management Applications
Constellation’s series on innovation in financial management applications in the cloud identifies finance leaders and technology providers seeking to transform the current legacy on-premises market. As finance leaders venture into the cloud for innovation and renewal of mission-critical financial management applications, they must shatter myths about security, customization, and regulatory compliance.
Nine benefits of the cloud continue to outweigh the risks, including potential vendor lock- in. Those who make the shift to the cloud drive overall innovation in achieving reduction of cost of ownership and complexity, mobile access, and reduction of cost of maintenance or increased value, integration, and self-service business intelligence.
On March 1, 2016, FinancialForce announced the spring 2016 release of its flagship application. The new release focuses on improving the future of work for finance departments. Key highlights include greater end user form personalization, related content panels with social collaboration, and new accounting functionality for intercompany reconciliation and automated elimination entries.
This report reviews the latest offering in Financial Management applications in the cloud and related Enterprise Resource Planning (ERP) trends. Chief Finance Officers (CFOs) and finance leaders seeking advice on the cloud can take advantage of the ERP user survey and cloud adoption trends to understand how peer organizations have advanced their usage of ERP and financial management applications.