One of the clear indications that the cloud movement is becoming mainstream is the growing number of CFOs and finance departments that are adopting Software-as-a-Service (SaaS) solutions to support their corporate responsibilities. Further, cloud-based alternatives now redefine the accounting and financial management functions.
The finance and accounting segment of the SaaS market has been gaining momentum for years, with revenues of cloud-based solutions far outpacing traditional, on-premises software systems. The result? ERP capabilities are broader, with fundamental shifts and changes to finance and accounting functions.
Now Intacct is promoting the more strategic virtues of Cloud ERP in response to growing demands from its customers that want a broader array of capabilities via the cloud. To meet the expanding needs of its finance department customers, Intacct has added subscription billing, digital board book, and other strategic planning and reporting functionality to its portfolio.
Rather than performing just the mundane and monotonous chores of tracking revenues and expenses, cloud-enabled finance departments will be able to focus more on analyzing business data to provide greater insight and guidance to executives and business unit managers. In other words, the finance department will be able to provide greater value-add to the organization.