Finance Moving to the Cloud: The Steps to Take and the Benefits You Can Expect

Foundational Refreshed: 04 December 2017 | Published: 22 August 2016 ID: G00310413

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After years of lagging behind other domains in cloud adoption, cloud is hot in all areas of financial applications. CFOs and IT leaders need to understand how to capitalize on the opportunities of transitioning finance systems and processes to the cloud without being caught out by the challenges.

Table of Contents

  • Analysis
    • Introduction
    • Market Analysis
      • Market Trends
      • Cloud Maturity Varies Across Finance Technologies
    • Key Issues to Address
      • Avoid Technology-Led and Vendor-Led Cloud Adoption
      • Eliminate Unnecessary Customization
      • Make Integration a Shared Responsibility Between Finance and IT
      • Application Support and Governance
    • Key Steps to Take
      • Adopt a Bimodal Approach to Cloud in Finance
      • Decide on Core Financial Management Applications and Financial Consolidation Systems Strategy
      • Identify Finance Capabilities Where Cloud Can Deliver Rapid, Incremental Benefits
      • Develop a Finance Systems Strategy as Part of a Postmodern ERP Strategy
    • Expected Business Outcomes
      • Potential Cost Savings
      • Faster Adoption of New Functionality
      • Possible Improved Usability
      • Opportunities for Process Improvement and Agility
      • Enabling Growth
      • Supporting Business Transformation
© 2016 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartners research may discuss legal issues related to the information technology business, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein are subject to change without notice.

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