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Three good reasons for switching to cloud CPM, other than “everybody else is doing it”

May. 27 2020 by Eleonora Bernardini, Associate Director, Customer Service & Cloud - CCH Tagetik

Performance Management Cloud

“Everybody else is doing it”: it’s neither an acceptable excuse for a wayward child nor a sound reason for a business strategy.

According to Gartner, in two years’ time, 60 percent of the world’s top 1000 will have replaced legacy on premise systems with cloud. The number jumps to 80 percent for North America. And those numbers are sure to be boosted with the dramatic rise at home working during the COVID-19 pandemic. The pandemic has highlighted the need of real-time information access from anywhere and the demand for collaborative ability that allow businesses to plan effectively for these extreme times and beyond.

So why switch to cloud? Experience with our customers has shown that cloud is one step in a bigger transformation journey taken by organizations to evolve their finance processes. And we also learned that there are 3 main goals for digitally evolving organizations in the process of setting their systems for transformation….

A Complete solution. A Cost effective solution. A Safe and secure solution. Rather than take them at face value, let’s look at them one by one:

1. A complete and comprehensive solution is a must have for organizations looking for streamlining processes through cloud deployment

Many on premise ERP systems and legacy business applications have become too cumbersome to change at the pace of business needs. Cloud computing has changed the market fundamentally. Choosing cloud should not mean compromising capabilities. Here at CCH Tagetik, for instance, our single unified platform allows our customers to have the same capabilities and functionalities for both deployment on premise or on cloud.

Our cloud solution brings the flexibility AND the agility required for advancing changes without constraints in terms of functionality. Cloud is definitely an option to improve and evolve, not a step back. It doesn’t make any sense to switch unless it is part of a comprehensive and complete transformation journey, with the evolution of processes and organization towards a digital enterprise.

Deployment of CPM applications in the cloud allows the Office of Finance to innovate many process areas, that have been dominated by manual spreadsheets, at a faster rate. As well, the visibility of information and user experience take on an extra dimension: with CCH Tagetik secure single version of the truth”, data and information are available wherever the user has any smart device and an internet connection.

2. A cost effective solution and fast response to unplanned business requirements are key motivations for moving to cloud CPM

The motto should really be “Develop your business, not the infrastructure”. Upgrades for on premise legacy solutions are often costly and resource intensive as is the infrastructure to support them. Cloud solutions are flexible to grow with the user’s needs and generate lower IT and operational costs.

When it comes to capacity, with CCH Tagetik cloud solutions investment is linked to consumption, and solutions are fully scalable. Sizing is an exercise which can be adjusted and amended frequently. based on business drivers and positioning IT as business partner and not as a service provider. anymore. Transition to the cloud with CCH Tagetik, reduces significantly the TCO, particularly when the transformation is guided by Office of Finance priorities leveraging agile deployment approach and roadmap.

3. A safe and certified solution organizations can trust is an essential requirement to evaluate to move to a cloud deployment

At work or at home, cloud is sorting out the problem related to storage management. There is also the peace of mind that there are no more manual updates or activities which can compromise data consistency and burden the IT department.

But there is another concern that people sometimes have when thinking about the Cloud: the data security and availability. The solution is to choose a fully secure, ISO 27001 certified solution with reliable uptime, making sure that there is 24/7 monitoring of the cloud’s status and a client’s data is secured applying all rules to ensure physical, logical and organizational security.

Showing the way

A cloud strategy will pave the way to increased flexibility and cost efficiencies for the finance department, in businesses of all shapes and sizes. CCH Tagetik’s market-leading CPM single-platform capabilities are trusted by leading companies across all industries. Customers such as Triodos Bank, Galileo Global Education, AGF, Alcatel Lucent Enterprise are just some of our happy customers who are benefiting from CCH Tagetik solutions deployed on the cloud.

Start your blue-sky thinking in the cloud and be the next!

If you want to know more about the importance of the cloud to drive the digital and technological transformation today join our webinar “How Can CFOs Drive Transformation, NOW?” organized in partnership with Amazon Web Services. Choose the date you prefer based on your time zone and register here:

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