Passion for finance

Finance on the Cloud – one size does not fit all

We are all hearing about the cloud, and how it is the future. We all use cloud solutions – either for work or for personal use. For finance Gartner estimates 5% of the Corporate Performance Management (CPM) market is on a cloud solution.  An FEI survey showed that 20% (read the research by FEI) are either looking or considering cloud for financial applications.  Most IT organizations have cloud as part of their strategy. Looking ahead, Gartner expects nearly half of all large enterprises will have hybrid deployments by 2017 (read the research by Gartner).

But which cloud?  What’s your IT’s strategy going forward? There are many advantages to going to a cloud solution, but it needs to tie to your IT and business strategy.  And according to these studies, at least 80% of companies haven’t made that decision yet.  

That’s why it is important that when working with a solution provider, be sure they have deployment options that can match your strategy today and into the future. Many new CPM players are cloud-only, which is by far the easiest way to get started in today’s environment. Unfortunately they will only cater to that market, and that market only.  If you are not ready for cloud yet, require an additional layer of security, or your IT group is setting up a private cloud, they can’t help you. 

 

Deployment Options

To meet the needs of all companies, solution providers should offer comprehensive deployment options; full multi-tenant cloud and a private cloud option, and the software should be deployable on a company’s own private cloud, on premises or Hybrid.The best case, as it is with Tagetik, is you should be able to move from one deployment option to the other seamlessly.  The software is the same regardless of the deployment option you choose.
 
You should be able to pick the solution that best addresses your challenges and be confident that it will deploy successfully in your environment.  Choosing the cloud should not force you to compromise on functionality.  

What do you think?  What is your CPM cloud strategy?  Does it differ by process?