Top 3 Ways Cloud-Based Solutions are Changing the Role of Finance Professionals

by Chris Elmore 0

Trends in consumer technology have slowly made their way into our business life; one of those trends — the “Cloud” — is certainly changing how we perform our jobs, regardless of industry. And, why wouldn’t that be the case?

For finance professionals, to advise your business to the best of your ability, you need to see the entire picture – that means integrating data from different tools and sources. And we’re not sedentary beings anymore; you can’t solely have access to the required finance program on one immobile desktop. Lastly, your job requires tools that enable you to work at the speed of business – lightning fast.

More detail on the ways your work life is being changed by cloud-based solutions is outlined below. For further insight, join us for an educational webinar featuring Payment Experts, Chris Elmore of AvidXchange and Steve Murphy of Mercator Advisory Group and PaymentsJournal on Thursday, April 28 at 2 p.m. ET. Register here.

Data Interoperability – Systems should work together to create a seamless experience for users, and to leverage the collective power of the data that is available. For example, in the financial space, having an accounting system that integrates seamlessly with a T&E tool or an AP automation solution helps with creating accurate financial projections for improved budgeting and forecasting.

Visibility into Data from Anywhere – Flexibility to accommodate a 21st-century finance professional who doesn’t want to be married to his/her desk. In a recent study done by the Census Bureau, one of the fastest-growing groups of professionals to work from home are in the financial space. Cloud-based solutions have certainly played a part in this. Additionally, your life is on the move, going to tradeshows or board meetings, and cloud-based solutions keep you connected wherever you may be.

Data-Driven Decisions – Cash is king, and you’re the keeper. The business relies on you to have accurate numbers to help make important decisions on hiring, investments, and more. If you’re currently relying on your trusty Excel spreadsheet, then you know how difficult it can be to quickly whip up reports, or do a fast analysis.