Gerhard Hartman, Vice President, Medium Business for Sage Africa & Middle East, discusses how cloud technology is changing the finance profession.
The way finance teams operate has changed dramatically. Not only have they shifted towards more remote ways of working and collaborating, but they are also under pressure to respond quickly to volatile economic conditions and evolving regulations. Those that are still using legacy financial systems are at a disadvantage.
With the shift towards software-as-a-service (SaaS) systems, financial leaders can offer easy-to-use platforms that democratise financial data and enable people to work securely and efficiently from nearly anywhere.
Cloud technology is changing the finance profession by offering financial platforms with unprecedented flexibility, ease of use, and mobility. Here are some of the most significant benefits of migrating to cloud-based business solutions:
Cloud-based financial systems can grow along with your business. You can start small, then add more users or increase transaction volumes without performance or scalability issues.
- Streamlined data management
With a cloud-based system, finance teams can consolidate their information and ensure that everyone has access to the same consistent set of live data and transactions. This enables them to analyse and report in real-time, responding fast to a changing world.
- Remote work
One of the key benefits of a cloud-based system is that it is available to the distributed teams, whether at home or scattered across different offices. This enables finance departments to move towards sustainable remote or hybrid working models.