ORLANDO – May 21, 2012 – The Financial Executives Research Foundation (FERF) and Intacct today announced the availability of a new cloud computing research report, titled: “Building the Business Case for Cloud Computing.” FERF, the research affiliate of Financial Executives International (FEI), the leading advocate for the views of corporate financial management, conducted all the research behind the report – including interviewing CFOs from a diverse array of industries. The announcement was made from the 2012 FEI Leadership Summit, taking place this week in Orlando, Florida.
The new FERF report takes a broad look at the motivations for choosing a cloud-based system, the tangible benefits of the cloud, and the impact of cloud computing in transforming the finance function. William Sinnett, senior director of research for FERF, conducted a series of interviews with CFOs and included their commentary and profiles on their use of cloud computing in the report.
The report revealed that, when it comes to the motivations for choosing a cloud-based solution, the responses from the CFOs interviewed fell into three main categories:
- A desire to optimize IT systems by eliminating costs and IT overhead
- A desire for better access to information
- A desire to streamline and automate financial accounting processes and provide robust reporting for improved decision making
The CFOs also discussed the benefits of moving from on-premises software to a cloud financial management system, including:
- Increased anytime, anywhere visibility
- Productivity savings, such as superior integrations with existing business solutions
- Reduced hardware and software costs
- Lower implementation and integration costs
- Lower operational and maintenance costs
To learn more about how cloud financial applications are transforming finance departments of all sizes, copies of the complete "Building a Business Case for Cloud Computing" report are available at https://bit.ly/Lbvico. The report is also available from the Intacct booth at the FEI Leadership Summit (Booth #221). In addition, several of the CFOs included in the report will participate in a panel discussion, “Building the Business Case for Cloud Computing,” during the Summit on May 21st (11:00am - 12:15pm ET).
About Financial Executives Research Foundation
Financial Executives Research Foundation (FERF) is the nonprofit 501(c)(3) research affiliate of Financial Executives International (FEI). FERF researchers identify key financial issues and develop impartial, timely research reports for FEI members and nonmembers alike, in a variety of publication formats. FERF relies primarily on voluntary tax-deductible contributions from corporations and individuals, and publications can be ordered by logging onto www.ferf.org.