Buying a license for on-premises ERP can sometimes become a problem to maintain, especially with the license often being expensive. While ERP systems are excellent ways to organize your data, having an on-premises ERP isn’t always necessary.
It’s time you learned how specialized SaaS financial software can replace on-premises ERP. If you’re new to using SaaS platforms, it’s one of the most convenient ways to work while on the go. It’s also very inexpensive to use since you’re basically using software through the cloud.
Here’s some features you’ll appreciate having while saving money on maintenance.
Thinking About Specific Pieces of Finance
As TechTarget notes, you should choose SaaS financial software based on what your company’s needs are. You shouldn’t integrate every financial feature into the cloud without careful analysis of where it could logically fit.
You may want an SaaS platform to improve payment systems, financial planning, or just for financial metrics. Whatever the case, having financial software in the cloud means you and your staff can work virtually anywhere. This includes data access 24/7.
Assuring Technology Integration
Just like with ERP, you want to make sure SaaS financial software can easily integrate with your existing technology. Software like SalesForce is probably a standard in your financial organization. You’ll want to work with a consultant to make sure you find something integrating well with things like SalesForce or other software being used.
Overall, bigger companies may want to invest in ERP vendors. If you’re a smaller financial company, SaaS programs like Intacct often work well in easier integration. Described as a cloud-based ESR, it’s ready to help you through all the upcoming ASC 606 and IFRS 15 revenue recognition guidelines.
Accessing Analytics When You Need It
The best cloud-based SaaS financial software offers superior metrics. Don’t discount how important this is in scoping out financial reality about your organization.
SaaS programs let you tap into metrics when you’re on the go if you have no time for in-person meetings. You’ll be able to use your mobile device to see what’s occurring in your company and take action without wasting time.
You’ll even be able to do financial closings through an SaaS platform thanks to thorough metrics telling you what the status is of each client.