The Cloud enables faster new insights through advanced analytics and BI deeply embedded in financial applications along with collaborative tools.

Corporate Performance Management cloud solutions are becoming more robust with expanded software functionality for improved productivity and insights. Many CPM cloud solutions include advanced analytics and business intelligence (BI) capabilities. This means finance can have direct access to the data they need for quickly running complex analysis from any networked device.

Business users can build their own reports with data from across the organization, without waiting for IT to merge and consolidate the data. BI tools like interactive dashboards help to provide visibility into key performance indicators through rich data visualizations. These graphical representations are useful for easily identifying trends or patterns in the data. The expanded features empower the finance function to deliver deeper analysis for faster, more informed decision making.

Features for collaboration improve how finance communicates with other departments when collecting information. This more collaborative approach integrates sales forecasts with purchasing, production and any other contributing department for budgeting and planning. Other expanded features that improve efficiency and productivity, include dynamic user interface with streaming updates and real-time notifications, and enhanced workflow capabilities to automate processes. According to US Analytics, 70% of CFOs are currently moving their core finance and forecasting processes to the cloud.

To conclude, analytics, BI and collaboration capabilities no longer reside in separate applications. And with the flexible cloud deployment model, you can go from a disparate spreadsheet process to a CPM solution with these enhanced capabilities in a matter of weeks, giving you faster delivery of critical data for deeper analysis.

Are you interested in learning more about moving to the cloud? Attend the Proformative WebinarBuilding a Business Case for the Cloud, Sponsored by Altius on January, 20, 2016 with Speaker Gina St. Clair-Phistry, Director, Technology and Management, McGladrey.