Everywhere you turn today you hear how new business realities are shifting the goals of the finance organization and how it operates. CFOs are asking: “What’s really important beyond the buzzwords? What do I need to focus on? What does this mean for me and my organization?”
At the top of that list is the rapid shift by finance organizations to cloud ERP platforms. Recent studies show how finance leaders are quickly moving their organizations to the cloud and in the process shattering myths about where cloud works, and where it doesn’t.
A recent Constellation Research report for example includes interesting insight from CFOs about top cloud finance adoption priorities and fears. The report speaks specifically about how SAP S/4HANA Cloud is helping to drive cloud innovation in finance and how common cloud ERP myths are being overturned:
- Data loss, intellectual property theft, and privacy risks are overplayed
- Customization can be achieved
- Legal and regulatory compliance can meet ever-changing standards
But more importantly, the report shows that CFOs are making the choice based on the value that cloud brings to their organization. The report identifies and outlines 9 key cloud benefits driving CFO decision making. The top three focus on time to value, quality, and innovation:
- Rapid IT implementation improves the quality of deployment
- More frequent cycles of innovation result in competitive advantage
- Minimal upgrade hassles free up time for innovation
Other benefits align to some of the critical changes impacting the finance organization overall, including the need to drive efficiency and agility in finance operations while supporting the identification, assessment, and management of innovation and growth across the enterprise.
Remember the days when everyone believed that cloud would only penetrate the testing and development and/or customer facing workloads in an organization? Well that view appears to be getting old quickly, and the value of cloud is far more wide spread. Today’s CFOs need to evaluate and assess whether their organizations are ready for a much more broad adoption of the cloud model.
For a deeper view of how both the myths and benefits of cloud ERP, and how SAP S/4HANA Cloud aligns to those benefits, visit this page to see the Constellation Research report.