05 Apr How to Drive Success with Cloud Financials in 2022
Wealth management in today’s volatile market has led many firms to accelerate cloud adoption out of necessity – and with it gain the ability to streamline costs and boost productivity. As many firms continue to work remotely due to the challenges of COVID-19, many of those not yet in the cloud have taken another hard look at cloud financial solutions. The conveniences, cost efficiency, productivity boosts and added security that cloud solutions offer – particularly in a challenged market – have ushered in a new era of financial management for many. In this guide, we discuss how to drive success with cloud financials in 2022.
Table Of Contents
Why wealth management firms are moving to the cloud
Like many firms today, you’ve likely had to re-configure your work environment. Maybe you and the team are 100% remote, or maybe you have a skeleton crew going into the office. Whatever your new normal is, the importance of having access to your key financial data remains a priority.
Being in the cloud means being agile – enabling you to take advantage of opportunities as they arise and adapt to challenges quickly. Increasingly, more wealth management firms are finding the cloud to be transformational – saving up to 60% of the time when consolidating the books or doubling revenue due to massive efficiencies in finance processes.
In fact, of those that embraced cloud projects for cost reduction purposes, 76% said they were performing better than expected, with the rest saying that they performed in line with expectations – none thought that the projects performed worse than expected.
The top five reasons wealth & asset management firms embrace the cloud
You save on significant costs – Gain the technology efficiencies you need without having to manage a complex and costly IT infrastructure.
Your data is safe in the cloud – Skilled cybersecurity engineers use sophisticated software to keep cloud data centers secure. In fact, top-tier SaaS security measures usually outweigh what most firms could individually afford to take. With your data stored in the cloud, it remains safe and can be easily accessed — even if something happens to your computer.
Your team is fully supported when working remotely – Teams stay in sync with each other and the business. They have access to the information they need to work anytime, anywhere, on any device.
You’re always using the latest enhancements – No more outdated software and painful upgrades. You and your finance team are always using the most current version with automatic updates.
Download the full eBook and learn how to drive success with cloud financials in 2022.