A recent CFO.com article, Planning in the Cloud, summarizes an interview with Jerry Irvine, CIO of Prescient Solutions, an Illinois-based IT consulting firm and member of the National Cyber Security Task Force. While he gives his opinion on the risks and opportunities for SMBs moving their budgeting and forecasting operations to the Cloud—but these risks and opportunities are inherent in any move to the Cloud:
The Main Benefit: Agility
Irvine: Obviously agility, especially for the small-to-medium-sized companies just entering into new budgeting and forecasting applications, without anything integrated into their existing ERP solutions. There are products out there that they can get into pretty quickly.
The Main Risk: Lack of Due Diligence
Irvine: They’re the same as the risks that have historically challenged finance to move systems to the cloud. Finance is lagging in moving systems to the cloud, fearful of putting proprietary financial information and intellectual property out there. This is rightfully a concern. Yet, companies that do their due diligence to ensure they are going into a secure, stable environment should be comfortable with the risks.
To read the full interview, click here.