The Case for Cloud-Based Planning Tools

(From FEI) As the global marketplace moves faster, a growing number of finance professionals are embracing new, more agile ways of working. One such example is the rise of cloud-based planning software in place of the traditional spreadsheet. Cloud-based planning take the fundamental capabilities of the spreadsheet and add intuitive planning interfaces that make it easy for finance professionals to collaborate, enter data, create reports, and run what-if scenarios. Organizations that make the leap from spreadsheets to digital planning should expect gains in efficiency and scale, helping finance staff to be more strategic, according the Pinsent Masons LLP, a UK-based law. “We spent 70 percent of our time entering and verifying data, and 30 percent viewing and interpreting it,” notes Andrew Brett, who heads financial reporting at Pinsent Masons. “We now can spend seven out of every 10 hours gleaning insight from our data.”

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