Modern-finance-v08

Modern
Finance
Traditional
Finance
Approach—
Modern finance enables increased user acceptance and adoption with 
intuitive and embedded collaboration with mobile accessibility.
Data Focus—
On-premises software requires up-front purchase and taxes; cloud 
ERP leverages operational expenses month to month.
Data Model—
On-premises ERP requires annual maintenance fees to be current with 
security fixes, critical patches, and updates.
Reporting—
On-premises ERP requires additional capital expenses; hardware 
typically needs physical uplift every 3 to 5 years.
Budgeting—
Modern finance goes beyond manual spreadsheet-based budgeting by 
delivering connected and integrated enterprise planning budgeting which offers 
greater participation and increased accuracy.
Forecasting—
With modern finance, companies move from limited forecasting to 
advanced scenario modeling which provides more confidence and reduced risk.
System—
Modern finance is deployed in the cloud which delivers accelerated 
innovations, more user acceptance and consumption, agility, and typically
50% lower TCO when compared to traditional finance systems.
Transaction-Centric
Digital Back-Office
Data Driven
Native and
Multi-Dimensional
Embedded Intelligence
Integrated
Enterprise Planning
Advance
Scenario Modeling
Cloud
Data Gathering
Data Marts and
Disconnected Data
Batch
On-Premises
Manual
Spreadsheets
Limited Tools
and Capabilities

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Chapter 4: Building a Modern Finance Operation
21
Chapter 4:
Building a Modern
Finance Operation
03
ow is the time to say goodbye to process-focused finance 
models. Digital has blown it up. Traditional finance activities— 
including transaction processing, control and risk management, and 
reporting, analytics and forecasting—have been redesigned and 
reconfigured. The cloud elevates finance to the insight engine for your 
business using three essential elements: