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In a 2014 Association for Finance Professionals (AFP) Risk Survey 45 percent of finance executives reported that corporate earnings were exposed to more uncertainty today compared to three years ago. From uncertain customer demand for products and services to volatile commodities prices and exchange rates, every aspect of business in every geography and industry is under greater pressure to adapt to increased variability and pace of business.
In response, leading finance organizations are seeking new tools and disciplines to help the business make better decisions by anticipating the future.
With analytics delivered on cloud through software as a service (SaaS), finance organizations and users can take advantage of the full breadth of reporting, analysis, planning, budgeting, forecasting, scorecarding and what-if profitability analysis capabilities—but with the speed and agility of a cloud-based solution.
The availability of on-cloud deployment enables organizations to choose the best delivery mechanism for their corporate environment without sacrificing capabilities or limiting future deployment options. When you deploy SaaS analytics solutions, you can add users as needed while minimizing the costs related to capital equipment, software licenses and IT infrastructure. Analytics on cloud offers many benefits, including:
• Lower cost of ownership: Cloud deployment enables organizations to reduce IT overhead and increase utilization rates using less hardware.
• Faster time to value: Cloud-based solutions enable the rapid deployment of reporting, planning, budgeting, forecasting, scorecarding and analysis capabilities, so that users can make productive use of new capabilities more quickly.
• Scalability: Organizations can add users as needed without worrying about procuring new hardware and other infrastructure components.
• Less strain on IT resources: Because your internal IT organization does not need to install or operate the cloud-based solution, you can reduce or bypass any IT backlog.
• Cost agility: With an on-cloud solution you can eliminate up-front expenditures and ongoing costs for capital equipment, software licenses, and IT infrastructure and resources. Organizations gain agility by shifting fixed costs to variable costs, making it easier and quicker to align costs with new level of business activity.
IBM has more than 100 SaaS offerings available in the cloud marketplace including a portfolio of cloud solutions for finance professionals.