How Finance Teams Can Use Cloud Technology to Save Their Organizations Time and Money

For many people, the cloud is just another trendy buzzword bandied about by IT specialists, but they shouldn’t be so quick to dismiss it. Very few of us have woken up to all of the possibilities presented by cloud technology, even when we can see the benefits it brings every day. Financial professionals should consider the cost savings it offers them and their organizations.
Cloud technology isn’t new. In fact it’s been around in one form or another since the 1960s. Yet, when a managing director co-founded his cloud based business back in 2000, many people still viewed it with some scepticism, largely because they didn’t understand the concept. Today, cloud computing is becoming increasingly popular, but there are still many sections of society that have yet to realize its full potential, one of which is the financial management profession.
Thinking from Accountants and managing director’s perspective, they are big advocates of this technology and the huge benefits it offers. As I see it, the cloud is a means by which financial management teams can gain access to vital business data at the push of a button. It ensures that their organizations are opening correctly and offers something that they can take the pain out of lengthy financial and administrative processes. What’s more, cloud technology doesn’t have to be difficult for an organization to integrate with its existing systems and processes.
Potential Advantages
Organizations can benefit from adopting cloud technology in a number of ways. First, it offers more flexibility in how employees communicate, process vital documents and monitor important outputs. As we all know, flexibility is something organizations don’t often have much of, given the restrictions on their precious recourses and time. But cloud technology can enable people to operate remotely, meaning that staff can work from home, or even while travelling to their next meeting. In 2007 the company Webexpenses closed its London office and adopted...