Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

November 21, 2013

Focus on Agility & Due Diligence

Posted by Lindy Antonelli

focusA recent 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.

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