If it's time to start upgrading your EPM software, you need to move beyond premises-based programs and join the companies that have made the transition to cloud-based programs. With companies getting larger, and networks expanding globally, it just makes sense to move beyond the limitations of an on-site EPM program. If you're still not sold on the idea of a cloud-based EPM program, here are four important benefits for you to think about.
Reduce the Need for Hard Copy Spreadsheets
If your finance department is still relying on hard copy records, including spreadsheets and other documents, it's time to free them from the time-consuming process. You might not realize this, but hard copy bookkeeping takes much more time than cloud-based programs do. One reason is that hard copy record keeping requires the manual inputting of information, which increases the risk of human error. Unfortunately, that brings up another reason why hard copy record keeping is so time-consuming. Your finance department must spend their time manually searching for signs of human error. With cloud-based programs, all the record-keeping is done electronically, which means no more hard copy spreadsheets.
Reduces On-Site Costs
If your finance depart hasn't switched to a cloud-based EPM program, you're spending too much on your records storage. On-site EPM programs require the purchase of hardware and licenses, which can greatly increase your operating costs, as well as the costs associated with your IT infrastructure. However, when you utilize a cloud-based EPM program, your operating costs and IT infrastructure costs decrease dramatically. That's because there's no need for on-site hardware or licensing.
Allows for Future Growth
If you're planning for the future growth of your company, you need to switch to a cloud-based EPM program. One of the problems associated with an on-site EPM program is that it can't accommodate rapid growth and expansion. Unfortunately, that can curtail the productivity and profitability of your company. Cloud-based EPM programs have the ability to grow with your company, whether you're going to be increasing the number of users, expanding into other markets, or adding satellite offices.
Allows for Easy Set-Up
If you're concerned about functionality, and the best use of time, you need to invest in a cloud-based EPM program. Unlike on-site EPM programs that require time-consuming, and costly, set-ups, cloud-based EPM programs allow for easy set-up. Since there is no need for extra space or equipment, your program can be up and running in no time at all.
For more information, contact your local cloud epm solution services.