How SaaS streamlined finance operations

Commentary – Ten years ago, corporate finance departments’ quest to identify solutions that could automate and streamline operations – and maximize cash flow – was an expensive and arduous one. Not only did finance managers need to navigate the overwhelming array of then-unproven solution options, they also needed to overcome growing resistance from internal IT departments that were intent on standardizing on a single ERP vendor.

On the one hand, who could blame IT for being reluctant to adopt best-of-breed software? The typical enterprise software installation involved lengthy rollouts of 18 to 24-months, cost millions of dollars in hardware and required countless hours of IT resources to deploy and maintain onsite. So, limiting deployment of non-ERP systems seems a logical way to standardize and limit burdens on already scarce IT resources.

Unfortunately, as increasingly frustrated finance directors learned first-hand, IT’s unwavering stance on system consolidation often failed to support the needs and business objectives of finance or any other functional department. As a result, finance’s productivity and performance was often hindered – not helped – by the company’s overarching IT strategy.

Software as a Service (SaaS) has changed all this. By delivering application functionality as a globally accessible, web-based service, SaaS – or On Demand – has bridged the gap between business and IT – enabling finance directors and other business line executives to access the functionality required to meet and exceed their goals while still toeing the line on corporate IT strategy.

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