There are plenty of finance systems out there which are great for small businesses. They are simple, easy to use, and are often available for free or for bargain-basement prices. But, as organisations grow, requirements change. We take a closer look at the seven signs you’ve outgrown your finance system so that you can identify the warning signals early on.
Complex company structures are a headache for finance departments. While from an operational perspective, we want to gain efficiency by creating synergy, removing silos, and eliminating duplication of effort. From a finance system perspective, maintaining separate, discreet databases for each statutory entity does little to facilitate this effort. The best way to overcome these issues to opt for a finance system that can achieve a live consolidation and this article will explain why.
Finance departments are choosing to adopt cloud finance systems over traditional on-premise solutions in the leap to digitally transform organisations. But with variations of cloud on the market – such as private cloud and hybrid cloud – identifying why ‘true cloud’ will add the most value to your organisation early in the selection process can save a lot of headache down the line.
Implementing a new finance system can feel like a daunting prospect for many organisations. But, when you invest in the right software and choose the right finance system provider, the implementation of your new system can be a seamless transition. Find out how to successfully implement a new finance system.
We are facing now, more than ever, the genuine need to digitally transform our organisations. While there are many elements to digital transformation, modern cloud-based finance systems have a huge part to play in enabling both the finance team and wider organisation to work better remotely.