Over the next few weeks we're going to post a series of entries on the Intacct blog to address the differences between finance and accounting systems that are in the cloud and those that are on-premises.
The fundamental issue is delivery. There are significant cost and productivity differences between having your finance and accounting system delivered to you as a cloud service versus the traditional on-premises deployment. We’ll cover concepts like total cost of ownership and cloud economics in the first few blog entries. However, cost is not the only reason to move to the cloud, and not even the best. The productivity benefits from moving to the cloud will deliver the greatest boost to your business over time.
The second key difference is what’s included in the cloud product from day one. Cloud finance and accounting solutions are built to deliver capabilities that will require custom programming and additional modules with traditional premises-based software. Not only are modern cloud financial applications more feature-rich from day one than legacy on-premises products, but the cloud prevents you from getting locked in to an application that is slow to evolve or difficult to configure to your needs. I’ll discuss these differences and more while illustrating specific business benefits that you experience with a cloud financial system.
To give you a somewhat obvious hint of where this blog series is headed, Intacct comes out looking great compared to on-premises software! This is the Intacct blog, after all.
Yet we realize that moving from on-premises financials to the cloud can be scary. You should have a fair number of concerns if you’re unfamiliar with the benefits of the cloud, or have grown used to the pain of your legacy on-premises system and don’t know where to begin in evaluating a new system. There is no point in adopting a new technology for the sake of the technology alone. In this blog series we’ll address common concerns you may have about the cloud and help you realize that there’s a world of ways to improve your business by moving your accounting and finance processes to the cloud.
Subscribe to the Intacct blog for upcoming installments in this series on cloud vs. on-premises financials:
- Outsourcing IT
- Total cost of ownership calculations
- The economics of cloud financials
- Customizing your cloud financials
- Adapting to change
- Visibility into key metrics
- Better reporting and insight for stakeholders
- Integrations and best-in-class systems
- Mobility—be productive from anywhere
You can also follow Intacct on all our social media channels, including Facebook, Twitter, and LinkedIn. To network with other people interested in cloud financial applications, be sure to join the Intacct Cloud Accounting group and the CFOInsights group on LinkedIn.
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