Everyone from CEOs to CFOs is constantly searching for methods to improve their businesses. Want to know one of their not-so-best-kept secrets? Companies that switch to cloud-based budgeting, planning and forecasting technology have seen better results in a myriad of areas. Business intelligence software allows businesses to surpass those which only utilize programs like Excel for their balance sheet forecasting needs. Here are five advantages of cloud-based software.
1. The best technology
You consistently have the latest and greatest business performance management software. Free or low-cost updates are offered multiple times throughout the year. Some of them are even automatic.
2. Lower initial costs
Most cloud-based forecasting and budgeting services are charged based on usage fees rather than paying for the software itself.
3. No IT required
A major advantage of cloud-based software is that it requires little to no IT work, which saves your business both time and money.
4. More flexibility
Think of cloud-based budgeting services like leasing a car instead of buying it. You can guarantee your business’s needs are compatible with the services provided, plus you can change services as your business’s needs develop.
5. More time
It’s been proven that cloud-based forecasting and budgeting software requires less time to be set up. Implementing personnel planning techniques guarantees that your time can be better spent improving productivity and often causes responsiveness to customers to increase as well.
So, what are you waiting for? Switch to cloud-based budgeting and forecasting technology today. This will make your business more agile and enable you have better access to the latest technology faster.
Kepion’s corporate performance management offers a web- and cloud-based application that can beef up your organization’s financial planning and analysis with robust reporting and dashboarding abilities. Want to learn more about Kepion’s cloud-based planning solutions? Book a demo today.