5 Things Your Employees Need (and Want) in a Cloud-Based Financial Solution

3. Connected Systems Built for Scale

Employees are most productive when everything they need is in one place—when there is a “single version of the truth.” Cloud-based ERP systems come standard with general ledger (e.g. AP, AR, cash management, tax management, fixed assets) functionality that can be easily integrated with other system modules, including distribution and inventory management, project accounting, and even CRM as the business grows and needs expand.

The advantage to employees is that they only need to enter transactions once—in only one application—and the information is automatically synced across the entire suite of applications and made available immediately, wherever it is needed. Not only does this save time, but it also ensures accuracy and enhances visibility into business activities and performance. Data is available for analyzing by any users, particularly decision-makers, who need real-time or historical insights across personalized dashboards or deep-dive financial reports.

4. Simplified Workflows that Save Time

Modern, cloud-based financial management systems provide a wide range of accounting functions to track daily financial operations and generate periodic financial statements. With tools for reporting, analysis, budgeting and planning, plus real-time alerts to remind users of critical tasks, employees can keep track of their workflows and stay on schedule—closing the books faster.

Cloud-based financial ERP systems are able to streamline operations so effectively because of automation: Data is collected, stored and made available for instant or scheduled processing, without the manual intervention your employees are probably used to.

5. Flexible Reporting
   Employees need reporting software that makes it easy for them to create multiple versions of a standard report to answer questions for various departments, customers, markets, divisions, etc. In addition, you will need analytical capabilities. With the ability to create multiple visualizations of the data—in email-able reports, for viewing on-screen or as downloads to Excel, for instance—they can meet the needs of decision-makers across the organization with relevant and timely insights.

In this day and age, employees know that there’s an easier, better way to manage data and processes, as they tap into streamlined consumer-grade interfaces every time they browse the internet, shop online or visit a social media channel. Modern ERP software is designed with this type of intuitive, user-centric experience in its DNA—and it’s what employees can’t wait to get their hands on when you move your financial management into the cloud.

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