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Modern-finance-v08modern-financeData-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.
01
16
17
T
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.
02
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.
Click here to compare Traditional Finance with
Modern Finance
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