The Benefits of Using Cloud Financial Planning and Analytics Solution During COVID-19

03.11.20 07:55 AM By Admin

If we were honest, cloud FP&A software might have just been an afterthought for many companies until the pandemic hit, forcing them to rethink how they work with and share their financial data. 


However, COVID-19 has altered how businesses operate and access their financial data. Remote work has led to collaboration problems, and IT issues have made sharing data across servers even more complicated. Safeguarding your data in these times is even more crucial to ensure proper restrictions are enforced when accessing confidential financial numbers. Many companies are just starting to come to terms with the added benefits of cloud FP&A software when it comes to managing their business’s financial data. 


Whether or not you’re considering adopting cloud-based financial software, let’s explore some of its core benefits. 


Greater Accessibility & Mobility Online 


Because a cloud FP&A software like Epicor Financial Planner is based online, it’s relatively convenient for users to access their financial data on the go. With companies having to pivot to a remote work-from-home strategy, cloud FP&A software makes the most sense to ensure users can access data simultaneously without being in the same location. These software types also come with multiple user role security to provide customizable access levels to each user. 


Cloud FP&A software also offers greater mobility, allowing users to see their dashboards from their mobile devices, laptops, or desktop computers. With real-time access to all its users, companies are empowered to assess performance, review cash flow, and other essential financial reports and forecasts that drive business decisions.


Real-Time Updates Ensure Data Is Always Synchronized 


Another advantage to cloud FP&A software is that data that’s always synced ensures stakeholders can access real-time information and reports quickly, making it easy to provide the needed support even throughout challenging times. As governments offer struggling businesses with loans and grants, having access to company financial data is crucial to getting the necessary help on time. 


Cloud FP&A software like EFP offers real-time access to data plus on-demand synchronization of their data, making it easy for companies to complete their reports and budgets on time.


Get More with Advanced Reporting & Seamless Automation 


Finance teams need cloud FP&A software to deal with complex financial reports that can mean all the difference when it comes to C-suites weighing in on the business's current performance and how this is aligned with their future goals.


EFP Cloud supports advanced reporting and automation, ensuring teams can be more efficient with their current tasks to spot new growth opportunities. 


In challenging times when businesses need accurate financial reporting to guide them in making difficult decisions, cloud FP&A software has all the features companies will ever need to deliver them on time. 


Get Multi and Unlimited Support for Different Needs


Unlike most FP&A software available today, EFP comes with support for multi-currencies, multi-companies, multi-scenarios, and multi-modules. Users can rest easy knowing EFP offers dozens of upgrade possibilities with its add-on modules. It can truly grow with the business.


Why Choose EFP Cloud For Your Cloud FP&A Software

With EFP, you can make accounting work for your business in more ways than one, plus the knowledge that your data stays accurate and well-protected no matter what changes in the industry. 


If you’re still in search of a cloud financial planning and analytics solution to help you navigate a difficult time in business, explore how EFP Cloud can help. 


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