CL Int Za PDF 2020 Buyers Guide Comtopgnrc
CL Int Za PDF 2020 Buyers Guide Comtopgnrc
CL Int Za PDF 2020 Buyers Guide Comtopgnrc
Introduction 3
Challenge 4
Considering cloud 7
Evaluating solutions 9
Buyer beware 12
Conclusion 13
2
Introduction
The modern CFO’s balancing act
You’ll discover:
• Why most financial software systems hinder your ability to get good financial information.
• The six key questions you need to ask before considering a move to a cloud-based
financial solution.
• Why the process for evaluating software is different for cloud solutions – and the seven things
to make sure you’ve got in writing.
3
Challenge
Why is it so hard to get good to pay for costly, permanent customisations. As a
result, you find yourself held back by vendor lock-in.
financial information? This lack of flexibility also makes it difficult to get the
It’s not you, it’s your software. reports you need, with the right information at the
right time.
The last major adoption wave for financial
management and accounting software dates back And that’s precisely why so many companies are
to the late 1980s, following the shift to Microsoft trapped in the past, struggling with old-fashioned,
Windows. Every major financial software package outdated financial management and accounting
today arose from this transition. QuickBooks, software packages. The fallout from using one of
Microsoft Dynamics, SAP, and Oracle all pre-date these older systems includes spiralling overhead
the Internet. costs, functional limitations, and unnecessary risks.
What’s more, there’s a cost to not being able to gain
The problem with these systems is that they were real-time visibility into your organisation’s financial
never designed for today’s always-on, always- and operational KPIs. It’s the cost of having your
connected, always working world. Instead of being competitors make faster, better decisions than you.
able to configure your system on the fly, you have
5
Software delivery models at a glance
On-premises software Hosted software Cloud computing/SaaS
Application Developed for the 1980s Runs on-premises software Developed from the
development innovation of client/server, in a third-party data centre ground up for online
Windows-based and adds a layer for online delivery.
computing. delivery (e.g. Citrix).
Deployment Installed on the customer’s Installed on a third-party A single vendor both
own hardware. vendor’s hardware – develops and operates the
delivered via an Internet applications – delivered via
connection. an Internet connection.
Implementation Usually 3-6 months. Usually 3-6 months. Usually 6-12 weeks.
Customisation Can be expensive and time Same as on-premises. Clickable configurations
consuming. Risk of replace costly
“dead-end” customisations customisation and do not
that break when new break with application
versions of software are upgrades.
released.
User interface Designed for Windows Same as on-premises, Designed from scratch for
machines in a client/server with an extra layer for the Web environment, to
environment, and not presentation (e.g. Citrix). match the paradigm users
always optimised for ease expect and are familiar
of use and learning. with. Built from the ground
up to be easy to use on
multiple devices, with
multiple operating systems.
Upgrades 12+ months. Same as on-premises. Generally quarterly.
Integration Difficult and expensive. Same as on-premises. Readily available via
application programming
interfaces (APIs).
IT Support Generally provided by the Same as on-premises, Generally included in the
customer. but complicated by package from vendor.
existence of third-party
hosting vendor.
Multi-tenancy Not multi-tenant. Same as on-premises. Applications are designed
Each instance of the to be multi-tenant.
application requires its
own hardware/software/
networking environment.
Hardware Requires a specific Same as on-premises. Delivered via a Web
requirements operating environment. Users typically limited to browser so generally
Windows only. operating system- and
browser-agnostic.
Accountability Vendor is responsible Hosting provider and One vendor provides
for the software, software developer are two end-to-end solution so
IT department is different organisations so accountability is inherent.
responsible for operations. accountability is complex.
IT department is still
responsible for operations.
indicators that apply to other stakeholders across the business. For instance,
many financial services firms that are adopting cloud
their department financials provide real-time dashboards for their
management team, so everyone can see the key
performance indicators that apply to their
department. Others provide access to a broader
Gather requirements. Carefully define and document Demo or trial from shortlist. There’s no substitute
your needs. Get input and gain consensus from for careful evaluation of the user experience.
key users in finance and related departments across But also be sure to see how things work at the
the organisation. Do you need to integrate with administrative level as well.
CRM systems? Talk to sales. Do you need to deploy
new purchase requisition processes? Talk to Focus on product fit. Don’t overlook the basic truth:
Accounts Payable. Regardless of deployment model, there’s still no
substitute for functional excellence. You need a
Identify top priorities and challenges. No system financial system that offers the comprehensive,
meets every need for every user. Determine which up-to-date features that modern organisations
functionality and requirements are “musts” and rank require. For instance, many companies find that
them so that you can select the system which best multiple-entity consolidation and project-based
fits your finance team’s unique needs. accounting are as essential as real-time reporting,
process customisation, automated approvals,
Create an RFI/RFP. With requirements established, and integration with other software products.
now’s the time to list your needs, expectations,
and parameters on a Request for Proposal (RFP Check references, score, and select. Be sure you
form that you can send to a short list of vendors. carefully screen vendor references. Make certain
Using the same form for all vendors will allow you to that vendors provide access to happy and
make an apples-to-apples comparison of solutions. successful customers, but don’t overlook online
forums like the Salesforce.com AppExchange,
Research your options. Go online to develop a where you can access unscreened, unfiltered
shortlist, sift through competing offerings, and feedback about vendor performance.
comb through independent research and reviews.
You can consult social networks like Linkedln and
Twitter to connect with people who are already
using the products you are evaluating. For real-
world reviews by actual users, check out
Proformative, TrustRadius, and the Salesforce.com
AppExchange.
3. Data ownership. Ensure that it is unambiguous Figure 1. Cloud computing turns Capex into Opex
that you own your own data and can obtain a copy of
your data (for an appropriate fee) if your relationship
ends. You’ll also want an agreement for appropriate
assistance in migrating away from the vendor should
you ever decide to leave.
12
Conclusion
You are in the power seat
With so many alternatives for financial applications,
financial leaders must ensure they understand the
implications of all options: on-premises, hosted, and
cloud computing. Ultimately, cloud computing is
about capitalising on a new software delivery model
that accelerates payback of a larger ROI and better
aligns the financial organisation with the new
dynamics of growing businesses.
13
About Sage Intacct
Sage Intacct is the innovation and customer satisfaction leader in cloud
Financial Management. Bringing cloud computing to finance and accounting,
Sage Intacct’s innovative and award-winning applications are the preferred
financial applications for American Institute of Public Accountants (AICPA)
business solutions. In use by organisations from startups to public companies,
Sage Intacct is designed to improve company performance and make finance
more productive. Hundreds of leading CPA firms and Value Added Resellers
also offer Sage Intacct to their clients.
14
Interested in learning more about Sage Intacct and how it can help
your business automate and deliver deep accounting capabilities
so you can focus on growing your business fast?
Watch our product tour today and see just how easily you can take
advantage of Financial Leadership 3.0 innovations.
Start tour
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