Benefits of a Cloud-Based Corporate Performance Management (CPM) Solution

With the increasing benefits of cloud servers, on-premise solutions are fast becoming obsolete and irrelevant. Cloud-Based Corporate Performance Management (CPM) solutions are the immediate future and exponentially gaining popularity in both SMEs and large enterprises. The major benefits are detailed below:

SaaS (Software-as-a-Service)

For small to medium businesses, the benefit of a subscription service is an important one to consider when comparing fixed costs vs. variable costs. For on-premise solutions, there is a high initial cost involved to set up servers and infrastructure to support the solution. Whereas for cloud-based services, companies subscribe to “pay as you go” licenses and will only need to pay for the number of users needed. There is virtually no requirement for a major initial investment on infrastructure set-up or other up-front costs.

Don’t have a IT department? No problem. The cloud CPM service vendor will handle all your IT needs.

Accounting Benefits

For all the accountants out there, a SaaS CPM implementation can be charged as an operating expense opposed to a capital expense.

Implementation

One reason why cloud solutions are quicker and easier to implement is because they eliminate  the time required to setup the physical infrastructure (which can take weeks). Additionally, less coding is required to configure the highly flexible cloud solutions. The flexibility also allows the solutions to scale with the growing and changing business needs.

Convenience

Cloud-based CPM solutions are getting easier to access with advancement in technologies. Most applications can be securely accessed anywhere and anytime through computers, mobile devices, and tablets.

Security and Recovery

Sceptics consider security and data recovery concerns as some of the major apprehensions against adopting Cloud Computing technology. However, with the rapid advancement in Cloud technologies, major emphasis has been given to making it a secure working environment. Now, Cloud is more secure than ever! In the rare case that there is a breach of security, users can recover data faster from disasters than on-premise physical backup methods.

Single-tenant or Multi-tenant?

Generally, SaaS models can either be multi-tenant or single-tenant. Large enterprises may consider choosing the more expensive single-tenant route which provides a good compromise between on-premise and cloud. Single-tenant solutions are on an instance of the software and can be highly customizable to your company’s needs. There is also a high level of security and performance is typically faster.

For small to medium sized companies, a multi-tenant cloud solution is sufficient. Many companies will share the same instance of the software which will be maintained and upgraded by the vendor. Costs are lower due to other companies sharing the same environment but the level of customization is lower.

Contact Delbridge today to learn more about Cloud-based CPM solutions and we will help find the right one for your business!