Accenture analysis shows that by 2020, cross-functional integrated teams will produce roughly 80% of traditional finance work product. Further, finance-staff productivity will more than double. It gets better: the finance organization’s costs will decline by 40%. Staggering numbers. An amazing forecast. But how? Part of that answer is in the cloud-based solutions like Intacct.
Finance is doing things that it never could before, thanks to digital technologies. End-to-end, multi-dimensional data access is enabling total visibility into both enterprise and customer data. The result? The finance organization will evolve from an expense control, spreadsheet-driven accounting and reporting center into a predictive analytics powerhouse that creates business value. Part of that technology includes cloud-based platforms and solutions.
Prepare: Embracing the Cloud-Based Platform
It is no surprise that the Finance 2020 organization will lean heavily on a digitally based foundation. But it is time to re-imagine the role and future of your enterprise resource planning (ERP) system. It’s time to move away from ERP’s old historical focus as a largely passive system of record, where isolated, difficult-to-access data encumber timely decision making.
Cloud-based platforms will become the predominant technology for reporting, planning, forecasting, and analytics in the finance organization of the future. Accenture research reveals that 85% of CFOs say they plan to increase their investment in the cloud — while over a third expect the investment to grow by more than 25% in the next two years. As a leader in implementing cloud-based solutions, Intacct continues to excel at achieving high levels of customer satisfaction.
New cloud-based platforms cut through the maze of complexity, realigning the ERP and resulting in an efficient financial infrastructure. With rich, multi-dimensional data in one place, teams apply advanced analytic toolsets to deliver sophisticated management reporting and business insights. No need to spend precious time with tedious ground work of searching endlessly for data and creating spreadsheet models.
Need to align your finance and sales? Register for Intacct’s On-Demand Webinar and learn why hundreds of leading companies like yours have also made the move to the cloud for their financial management and accounting applications with Intacct.