The cloud makes enterprise-planning solutions affordable for companies that may not have the funding for an on-premise solution. Its software-licensing model utilizes a subscription format, allowing the investment to be spread over time, versus a lump sum payment up front.

Cloud deployments also reduce the level of technical resource requirements, hardware and system costs. Software updates and system upgrades are handled by the vendor and, as a result, minimize the impact on internal IT resources. Technical employees can re-purpose their time to other projects within the organization.

Today’s cloud solutions offer sophisticated and affordable BPM/CPM tools to all segments of the market. Many of the solutions on the market do far more than budget, plan, forecast and consolidate; they can be used to perform multi-dimensional analysis on the data as well.  Consulting firm US-Analytics recently noted that, “70% of CFOs are currently moving their core finance and forecasting processes to the cloud.” This trend can be attributed to the array of beneficial upgrades enjoyed by companies of all sizes; smaller companies can now take advantage of enterprise-level solutions, and larger companies can enjoy newfound flexibility and nimbleness.

To learn more about the benefits of moving performance management to the cloud, download our White Paper here.