Digital transformation has accelerated at a rapid pace following the life-changing impacts of Covid-19. And with global spending on advanced technologies and services set to reach nearly £3 trillion by 2025, there’s no question it’ll be part of most – if not all – business agendas in future. Paul Sparkes, our commercial director, explains why cloud technology is not a thing that has to be explained anymore…
Throughout the past two years alone, the adoption of intuitive cloud-based solutions has proved to be a lifeline for many industries. From the more obvious instances within the healthcare sector including how tools have been used to book in vaccines and monitor hospital bed usage, to the more ‘everyday’ demands of running a successful business and managing staff working from the office, home – or a mixture of the two.
Recognising this incredible demand for intuitive technology, forward-thinking organisations have wasted no time when moving away from outdated equipment that is no longer fit-for-purpose. At the other end of the scale, many companies may still be operating with a clunky on-premise tool they most likely implemented five or more years ago, and now – due to the current climate – are beginning to realise they want something more in-line with their ambitious growth plans.
For the organisations that are keen to embrace change and evolve their software stack as a result, they’re the ones who understand that cloud is no longer an option, it’s a must-have. That’s because they know that when they integrate an intuitive solution, they’re armed with the ability to positively impact the bottom line, compete in the marketplace – no matter how saturated – as well as provide a greater level of efficiency for employees and unrivalled customer experience.
And the truth is, for many individuals today, they expect the businesses they invest their time, money and energy into, to have the functionality to cope with modern-day challenges.
The problem with fake cloud systems pretending to offer true cloud solutions
That’s why many accounting and finance professionals are discovering their once relied upon tool, is no longer providing the capabilities they need to do their jobs. In many instances, this has led to several professionals identifying that the system they adopted years ago, was in fact software masquerading as true cloud.
For those discovering that a ‘fake cloud’ or ‘Same-old-Software-as-a-Service (SoSaaS)’ solution is part of their tech stack, the current climate has shone a light on how these tools are leaving them burdened with excessive costs when it comes to managing legacy systems. They’re experiencing an incredibly poor level of performance and, when time is tight, they simply don’t have the capacity – nor the budget or resources – to improve what they already have in place.
And that’s where many industries are coming unstuck because the product that was initially invested in may have said it was ‘cloud-first’, but it only backs up to the cloud. For modern-day organisations that can be a costly lesson to learn from when finding out they don’t have the true cloud software in place that’s able to grow with their organisation.
Recent events have transformed the way in which everyone now works. With a heavy reliance on cloud technology, the last thing finance leaders need to be stung by is discovering their cloud tool isn’t able to provide them with the granular detail they need – in particular the access to real-time data that provides one single version of the truth.
The great news for savvy businesses is that true cloud infrastructure has been built specifically with this requirement in mind. It offers professionals the chance to streamline processes and obtain reliable information which informs business-critical decisions. It includes data sets that can be shared across the entire digital ecosystem. It’s a powerful tool that arms every employee with the insight to be able to help their organisation grow and, right now, move beyond the intense pandemic recovery phase.
And when a workforce only has to access a browser to retrieve real-time data at their fingertips – no matter where they’re based – that level of flexibility will play a crucial role in how businesses survive, thrive and expand at pace.
Plus, from a customer point of view, knowing the organisation they’re putting their trust and cash into has a robust cloud infrastructure means they’re likely to enjoy a far greater online experience compared to that of an on-premise alternative.
Cloud is the ultimate facilitator giving leaders the passport to agility
Finance leaders that spearhead their organisation’s move away from legacy systems as soon as possible are going to give themselves more chance to focus on strategy, the company’s trajectory and overall future. And for the businesses with large offices and a huge server placed in a room of its own, should be thinking the same too.
The good thing is, it costs absolutely nothing to shop around and find a true cloud solution that is tailored to match a specific organisation’s needs, while growing alongside its expansion. The crucial part to remember though is that it’s imperative that teams invest time and effort into that research stage so that their business doesn’t fall victim to a fake cloud option.
There’s no question that Covid-19 has taught everyone the importance of doing things in a more efficient, digital-first way – and cloud has been transformative in being able to make that happen. Not having to explain why cloud is a good thing and instead speaking about how it can benefit their business is an exciting prospect for many leaders who are committed to driving forward their company’s bottom line.
Find out how iplicit’s accounting software could transform your organisation and finance function. Book a demo by calling 020 7729 3260, emailing firstname.lastname@example.org or completing our contact form for a call back.