Modern-finance-v08

Data-Driven Decisions
Become 
Elusive. The default tool for many companies is spreadsheets. 
Too often finance teams find their current systems cannot 
analyze their data so a collective decision is made to start a new 
spreadsheet. As spreadsheets proliferate and variations multiple 
with no control, decisions they drive become harder to reach 
and might introduce error or doubt.
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16
17
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Chapter 3: Finance Challenges and Opportunities
Problems with
 Compliance Complacency. 
Additional scrutiny is 
required as new regulations and standards evolve. For 
example, as 
IFRS 15
is deployed, software and systems need to 
be updated, staff skills updated, and processes changed. It is not 
a simple task. Add in a company’s growth into new markets in 
new geographies and the ability for accurate and meaningful 
compliance becomes more difficult.
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Complex
 Legacy Systems 
and Environment. Modern activities 
require modern systems. Legacy on-premises software 
solutions carry high fixed costs coupled to large 
implementation and maintenance expenses heavily weighted 
toward cap-ex. Delayed on-premises projects have a cascading 
effect that further impacts moving toward data-driven decision 
making and improving compliance performance.
Your Complete Guide to Modern Finance
These challenges highlight why organizations move to the cloud. As 
legacy on-premises systems are converted to op-ex cloud solutions, 
finance departments embrace software that is always current, global 
and innovative. As the right technology for modern finance, both 
direct and indirect costs are reduced. Working in the cloud unleashes 
collaboration which in turn delivers more business value.

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