Cloud vendors love to talk about how cloud solutions are less expensive and easier to implement than an on premise solution. However, for some reason, companies are still skeptical. To help give you an idea what to expect from a switch to a cloud solution, let me start with an Intacct customer example.
A leading field service software vendor deployed Intacct to automate its business processes, help its accountant’s process more transactions, create automated workflows, and empower executives around the globe to share timely information. Nucleus Research, an independent ROI analysis firm, found key benefits of the project included increased productivity and the ability to support rapid growth without a similar growth in staff. They calculated that this software company achieved a 532% ROI, a payback in two and a half months, and an average annual benefit of $301,995 from their use of Intacct’s cloud ERP software.
Those are just a few incredible stats on how migrating to the cloud can lead to a significant return on investment. In fact, the overall ROI delivered by cloud applications compared to on-premise alternatives, is on the rise. Nucleus found that cloud application projects deliver 2.1 times the ROI of on-premise ones—up 24 percent since 2012.
So what about concerns around deployment costs for implementing a cloud-based solution? Given that there are greater features and functionality available in cloud applications as the years pass, one would think that such enhancements might drive up the cost of deployment along with the time it actually takes to implement a cloud system. Not so it seems.
Nucleus noted: “While the average time to deploy a cloud application has increased somewhat (increased complexity of applications such as ERP drive great variability in time to deployment), the relative cost of cloud implementations has actually gone down since 2012. Cloud deployments incur 63 percent lower initial consulting and implementation costs than on-premise ones (in 2012, companies spent 40 percent less on consulting for cloud deployments than on-premise ones). Personnel time to deploy cloud applications in comparison to on-premise ones has dropped as well. On an ongoing basis, companies spend 55 percent less (on average) on personnel to support cloud applications compared to on-premise deployments.”
In fact, for Intacct customers, 92% of our implementations are completed at or below budget. This gives our customers a predictable path to success. Most Intacct implementations are completed in just a couple months, depending on the complexity of the business.
Further, most cloud vendors deliver upgrades once or twice per year—at Intacct, we offer four software updates per year to ensure that new functionality and innovative capabilities are always at our customer’s fingertips. This means that cloud users (and Intacct customers) are not only getting their money’s worth, but they’re reaping the benefits of their investment on an ongoing basis.
The fact is, the cloud is not just the way of the future, it’s now. To avoid irrelevance, organizations must be both adoptive and adaptive.
To learn more about how small and medium-sized businesses are successfully using the Intacct best-in-class cloud ERP system to save time, streamline accounting processes, and provide analytical insight into their business, join this webinar tomorrow, June 28th, at 11:00 am PT / 2:00 pm ET.