Managing Multiple Cloud Software Challenges for Accurate Budgeting and Forecasting
Cloud software offers the promise of expanded functionality. But, if you’re running several cloud applications each day for your company, you know that jumping between one cloud application and another can be frustrating and time consuming. Cloud ERP, BI, CRM, and HRMS systems are great, only if you have eliminated the use of spreadsheets. How can you navigate a multi-cloud world without spending too much time navigating multiple solutions?
Is it time to rethink your software strategy and integrate your solutions? Contact Mindover Software online or give us a call at (512) 990-3994.
New applications combine multiple functions into one interface so that you can navigate the world of multi-cloud data more easily. Budgeting and forecasting in a multi-cloud world mean understanding what data you have to work with and figuring out how to integrate it with maximum information and insight.
Improving Budgeting and Forecasting in a Multi-Cloud Environment
Managers responsible for budgeting and forecasting know that the cloud has brought both enhanced insight into data and more sources of data than ever before. A budgeting manager might switch between several cloud-based software packages to find what she needs. She might switch between a cloud ERP system, a separate human resources and payroll system, Google analytics, an event management tool, a newsletter and SEO tool, and more. When your work requires having several software packages open at one time and toggling between them, you know it’s time for a better way to work!
Not only is such a system (or lack of a system) time consuming, it can be open for security issues. Remembering to log into and out of each system, remembering your password for each software system … it all adds up to one, big headache.
Some companies are still using homegrown spreadsheets to manage multiple cloud data sources. As the data is pulled from each external source, it’s entered into a spreadsheet. That defeats the purpose of using cloud applications and cloud software in the first place. The goal is to improve productivity and reduce errors, not add a step back in that increases the chances of mistakes.
Data Warehouses in BI Suites
The solution to the dilemma of multi-cloud complications is a business intelligence (BI) suite that includes a robust data warehouse. A data warehouse can be used to store, integrate, and process multiple cloud data sources. This can be channeled into the BI suite for maximum use. From the BI database, you can then run reports rather than type data into a spreadsheet. Budgeting and forecasting become that much easier and less prone to error.
Integrating Multiple Data Sources
Another option is to find ways to integrate cloud software so that the various programs “talk” to one another. This can be done through creating programs that act like bridges or connectors between independent programs. Such connecting programs remove the need for independent programs, manual data entry, and other outdated techniques for budgeting and forecasting.
Many systems such as Sage 300 integrate well with other Sage products such as Sage HRMS, CRM and others. By purchasing cloud software from one vendor and switching over all of your systems to the same company’s products, you are much more likely to be able to integrate them easily and seamlessly.
You Can Never Go Back
Often, myths, legends and old stories speak of heroes wishing they could return to their original homeland, but as the stories often relate, “you can never go back.” Once you’ve experienced the power of cloud software, it’s hard to imagine returning to on-premises software.
With the flood of data available from cloud software, however, comes the need to manage it for accurate budgeting and forecasting. Using a data warehouse or choosing software made to integrate easily are just two steps to make it easier to manage data for budgeting, forecasting, and financial insights.
Mindover Software provides business software and solutions to companies big and small. Cloud applications from Acumatica and Sage provide companies of all sizes with powerful data management and business insights. For budgeting and forecasting managers, we offer integrated business intelligence suites and assistance with integration, cloud software and more. Contact us today for more information.