Why Cloud is Needed in Your Journey to Real Digital Transformation

With the past-faced change in the environment for businesses, companies must also keep up with
the changes. And with the recent development in technology, companies must also integrate
these developments into their business process to ensure that they can quickly achieve their
financial and operational objectives.

Currently, many companies are now adopting cloud-based software. Enterprises invest money to
develop and install software to improve their business processes. But with the introduction of
cloud computing, companies no longer need to create and install the software as they can access
the required software on the internet. Moreover, cloud computing also provides companies with
a secure way of storing and sharing data.

There is a variety of cloud-based software offered by IT companies. For companies who are
looking to improve their financial budgeting process, cloud-based budgeting software is the best
option for you. And here's why companies should choose cloud-based budgeting software in
their journey to digital transformation:

1. Less expensive - creating and developing budgeting software is costly since they would
need to have their own data center. Hence, companies need to purchase the right
equipment and hire people to install and manage the center. But with cloud computing,
companies would not have to worry about those costs, and they will only pay for the
services they needed. Cloud-based budgeting software providers charge companies based
on the services they had availed, such as the features, storage, number of users, time, and
memory space, among other factors. 
2. More secured - storing data on the cloud is more secure than keeping data on physical
servers and data centers. A company's data, especially financial reports, are confidential
as it is vital to the company's operations; hence, a breach of security would result in a
severe problem to the company. But with storing financial data on the cloud, companies
will not have to worry about hacked laptops or computers since they can delete
confidential data as it had been stored in the cloud already. Moreover, breaching the
security measures on the clouding platform is not easy. Thus, companies can be sure of
the security of their valuable data.
3. Facilitates collaboration - teamwork is essential in any company as it can improve overall
business performance as well as individual employee's efficiency. And cloud computing
is an effective way of improving team performance. Team members can quickly share
data and collaborate to work on financial budgeting reports. Through it, team members
can also quickly check and validate on other members' work to ensure the consistency of
their work and avoid errors.

Performance Canvas Financials a cloud-based financial budgeting software that aims to provide
companies with cost-efficiency, security, and laser-focused collaboration. As a cloud-based
financial budgeting software, it offers easy installation set-up and automatic updates for its users.
It also provides its users with prepackaged finance logic such as Cash flow, CAPEX,
Consolidation, and allow them to do financial reporting, financial forecasting, what-if analysis,
assumptions testing, and many other tasks.

Of course, the market offers much other cloud-based budgeting software that aims to provide the
best cloud computing service for companies. But one thing is for sure, cloud-based budgeting
software essential for companies that aim to achieve digital transformation.
 Giving Finance Leaders what they need, when they need it

Finance leaders play a very critical role in ensuring efficient business operations and financial
stability, and in achieving the company's short-term and long-term business goals. Finance
leaders do not just crunch numbers, but their job entails critical analysis and a deep
understanding of their companies' financial working and the industry. They have to work on
voluminous data and analyze them and make it into information valuable to the company in
establishing its strategy and in making business decisions. Moreover, they also need to ensure the
accuracy of their data as a slight error may result in loss or worse, making lousy business
decisions that may put the company in a disadvantaged position in the long-run.

The job of a finance leader is also very challenging, especially with that their role is continually
changing. With the traditional becoming less popular with companies, automation of financial
tasks has become a norm these days. And with the automation of financial tasks comes the need
for financial planning software that will make the job of finance leaders easier.

Finance leaders must not just choose any financial planning software. But the financial planning
software that they need is one that will allow them to do their tasks that are vital to the company
in terms of helping make crucial business decisions and leading the execution of those decisions.

The financial planning software must provide financial leaders with tools that will help them
with:
 Capital structuring
 Risk management
 Auditing and reporting
 Business planning
 Company budgeting

Financial software providers are trying their best to keep up with the functional needs of finance
leaders. One of the financial planning software that aims to satisfy the needs of the challenging
job of finance leaders is Performance Canvas Financials.

Performance Canvas financials is a cloud-based budgeting software. With the urgency of the
tasks of finance leaders, Performance Canvas Financials is very time-efficient as it is a quick
install and updates automatically to ensure the best performance for its users. The FP&A
software also provides the finance leaders with expanded tools that will facilitate their critical
analysis, such as making what-if analysis, forecasting, and assumption making. Hence, it will
help finance leaders have a look at the financial standing of the company based on factors that
will likely appear and affect the company.

The software is also a cloud-based budgeting software. Thus, it offers convenience for the
finance leaders as they do not need to store in their computers the extensive data that they are
working. They also would not need to worry about security risks that come with storing
confidential data and information. More importantly, finance leaders can access the software
even away from the office so they can perform their tasks anywhere.
Finance leaders are analytical, so their analytical skills can come in handy when choosing the
best financial planning software that can help them perform the challenging tasks that comes
with their job.