The question over whether the cloud is going to happen or not is over. The cloud has won.
— Zach Nelson, CEO, NetSuite

Like Zach Nelson said, the cloud has won, and not by a fine margin either. With worries of cloud security now a thing of the past, cloud adoption by all sizes of organisations is booming, leaving many software platforms scrambling to catch up with the gold standard the cloud has set for business software. The cloud is not just a fad, it's the future, and it's here to stay. 

Why?

But why is it that the cloud is becoming the modern staple of successful, fast growing businesses? Surely the cloud is just a different way of managing your business software. Right? Not exactly, the cloud brings with it so many capabilities and opportunities that legacy and on-premise software solutions just can't deliver. The agility and flexibility delivered to organisations by cloud SaaS products is just a step ahead, especially when it comes to industry leaders such as NetSuite.

How?

So how is it that the cloud has become the driving force behind the success of so many organisations? Below are 4 major ways in which the cloud is driving and delivering success to those willing to embrace it..

1. Faster, More Strategic Business Decisions

Today’s pace of change means modern companies must deploy technology faster and dramatically shorten time to value. During critical growth phases, a nine-month implementation of an on-premise ERP system is a huge barrier for businesses. This only gets worse when implementations last years or ultimately fail. Industry data from the likes of the Software and Information Industry Association consistently shows that cloud solutions are typically deployed 50 to 90 percent faster than on-premise systems. Once deployed, a cloud platform provides businesses the real-time information they need for better, faster and bolder decision making at the speed modern business requires. It helps every company behave like a start-up by having a sharper focus, greater agility and a closer relationship with customers and partners.

2. Unlocking Human Potential

Stop running an IT shop and shape the future of your business by unleashing the full potential of your people so they can be bold and innovate. A cloud platform enables emerging businesses to focus on building processes that scale from the start. By giving the organization the ability to seamlessly evolve business processes and deliver innovation instead of keeping servers running, backing up data and performing upgrades, the company can truly manage for growth to reach its full potential. From a TCO perspective, it isn’t just about reducing IT spend—it’s about reallocating the IT budget from maintenance to focus on helping the business innovate and grow. Cloud delivery is a game changer, enabling IT to move from operational to strategic to shape the future direction of the business.

3. Access to Data: Visibility and Mobility

As decisions are made about the next bold move, whether it’s further investment, M&A, divestiture, carve out, IPO or international expansion, the sheer volume of information required increases with each step. Access to information is critical for any modern company. As data multiplies, it is easy to see how it can become quickly siloed within a business, buried in spreadsheets, databases or applications. The decisions that businesses make, especially by finance organizations, are significantly impacted by the data available and whether it is current. A cloud-based financial system solves this, ensuring that relevant and real-time data is readily accessible. Whether the data was entered at headquarters or at a subsidiary overseas is no longer an issue. You can run a distributed finance organization that can yield substantial cost benefits while retaining top-level talent. At a global or regional level, you can gain a clear and timely view into how the business is performing across sales, bookings, billings and more.

4. Making Cash Efficiency an Advantage

As business models change, payment methods often change too. Collecting cash faster through a variety of methods becomes increasingly important. Managing cash and the burn rate is a top priority for any emerging business. Many leaders are justifiably wary of the substantial capital expenditure that would be required to implement an on-premise business management system. The up-front costs for this type of system are not limited to the application software. They extend to the operating system, database, security software, servers, backup and network infrastructure and more. Add to this the ongoing expenses for IT personnel, training, maintenance and upgrades, and the total cost of ownership (TCO) becomes staggering and unsustainable. A cloud platform eliminates the need for those capital expenditures, enabling you to fine-tune your subscription needs as business dictates. With a TCO that is typically at least 50 percent less than on-premise systems, you free vital funds to reinvest in products and the business rather than manage a complex IT infrastructure. As part of this you can also forget about those painful upgrades every few years. With cloud, upgrades that deliver value will be more frequent and automatic. Your platform will always be current and you will never experience version lock.

 

This list is by no means exhaustive, but it is exclusive. The only way all of these features can be shared, delivered, and function effectively is in the cloud. Over the next 10 years we will see a near complete shift to the cloud for organisations both large and small, and one company has already began enabled over 40,000 businesses to do this, namely NetSuite. The global leader in cloud business software, providing a complete and robust set of applications to unify your entire business into one place, in the cloud.

 
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Next Ready Financials

Why Fast-Growing Companies Adopt Cloud Financials to Accelerate Growth.

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