From Chris Grundy, SAP EPM solution marketing
As I read through Steve Player’s recent blog in his series looking at the potential impact of cloud-computing on the planning, budgeting and forecasting process in business, I was struck by his reference to planners doing too much “dumb stuff”, and not enough value added activities. So, the question is, does cloud-computing offer real potential for Finance teams to free-up the time that they need to become even more efficient and productive and ultimately add more value?
We’ve seen how technology has improved leaps and bounds over the last few years, providing us with automation of many parts of the planning, budgeting and forecasting process. This has made processes speedier, more accurate and more efficient. But with new technology advances, such as the use of in-memory technology and more recently the emergence of on-demand planning solutions, there appears to be a new opportunity for Finance teams to further improve their planning processes.
At the end of the day it’s up to the Finance team or organization to decide what’s best for them and their business. Potentially the use of these technologies will have the effect of releasing more time for their teams to focus on added value activities like management and strategy, rather than administrative tasks. For organizations already sold on the use of innovative technologies, the adoption of cloud-solutions may be an easy one, but for others it may require a cultural leap and a whole new way of approaching their strategic use of planning systems.
Have a look at Steve’s post and see whether you think that cloud-computing could help you reduce your administrative tasks in the planning process, and free-up some of your teams’ valuable time.