The cloud’s offerings in many areas, from cloud-based ERP to time tracking software, have revolutionized the way firms do business. And finance is now increasingly changing with the help of the new technology.
Tracking grows more popular
Personal finance is not a natural skill for many men and women, and from popular books to programs such as Quicken, there has been a long and profitable history in efforts to help those who are not intuitive money managers – as well as facilitating the process for large companies. Credit card debt and house and car payments often overwhelm even fiscally prudent citizens, and tools that more effectively help people stay on top of their problems will always be welcome.
It’s part of why cloud-based financial software has been so successful with so many people, and is still growing today, according to Cloud Tweaks. Both individuals and businesses alike have been able to reap rewards from areas of the cloud such as data storage, and financial software is no different. The motivation is the same for all methods of financial efforts, according to Derik Rehou, president of a cloud financial company.
“We seek to give our customers a type of financial GPS,” said Rehou. “We focus solely on the numbers, but we can do this at a much higher level – a ten-thousand foot view of the landscape, which helps guide our customers along a path that would otherwise not always be visible.”
An easier job
In this way, the cloud allows for an easier financial picture and better management. It also makes the job easier for those in financial firms, according to Tech Republic. Jason Elmer, director of business development at financial firm Abacus, said that new technology allows for a much more efficient process.
“A mature fund may employ six individuals for application type work,” he said. “The fund spins up a new application, finds out they are trading heavier and they add more resources.”
If your company is looking to take advantage of the opportunities available in the cloud, consider BMI Cloud Solutions. We can help you to make sure you are fully capitalizing on all the potential improvements. With award-winning software such as NetSuite and OpenAir, as well as the expertise that comes with years of experience in the area, BMI is ready to help you optimize your processes.