There are significant advantages of cloud based financial planning software over the traditional on-premises corporate performance management software. The consulting time of the projects averages to a few weeks when compared to several months or years taken by the traditional software. The user interface combines some of the best consumer applications and caters to all types of business users. This enables greater ease of use and limited need for IT. There is no requirement to install new hardware, software or IT support because of the web based budgeting software. All that the user needs is just a browser and an internet connection. In case of web based budgeting software, upgrades would be taking place automatically. The users would be able to get access to the latest and the most recent upgraded software with new features automatically without the need for ongoing IT support services. All these features come with very low costs.
Use of cloud based financial planning software brings down the costs by 75% when compared to the traditional on-premises solutions. The low cost is a result of a lack of IT needs and reasonable IT subscriptions. With the help of web based budgeting software, you can generate income statement, cash flows, balance sheet and other reports that are unique to the company. All these can be done on the desktop or laptop. The reports are timely and accurate. It is easy to manipulate the data, analyze the data and manage the process completely. The budgeting software supports both financial budgeting and non-financial budgeting, including bottom-up, zero-based, activity based and top down.
The budgeting templates are customizable and can be created as per the specific requirements of the company. There is a data-access feature that allows specific access rights for specific users. A user can either have a view only access or both view and write access based on the department which he is working in and the level of responsibility the user or the employee has. The data can be shown either in department level wise or account based with ease and very quickly. The bulk copy feature of the cloud based financial planning software makes it easy to spread the monthly revenue budgets and costs across various departments and periods. This feature helps in reducing the time taking process of data entry.
There is 24 X 7 customer support available. The customer support team is highly experienced and qualified to tackle any problem that you may encounter during the usage of the software. The team is quick to respond to your problems and ensure that your day to day affairs are not hampered because of any technical glitch that you are facing.
Use of cloud based financial planning software brings down the costs by 75% when compared to the traditional on-premises solutions. The low cost is a result of a lack of IT needs and reasonable IT subscriptions. With the help of web based budgeting software, you can generate income statement, cash flows, balance sheet and other reports that are unique to the company.
