In recent years, thanks to digital transformation, more and more companies are using and discovering the world of the cloud in their finances. What is it like and what does financial management in the cloud really consist of? In this article we tell you what the cloud means for the company and how to improve management thanks to specific tools or software.
What is financial management in the cloud like?
In order to improve and innovate with regard to the financial management of companies, in recent years experts have begun to use cloud-based management software. But what are they really? Financial management in the cloud is the analysis and financial administration that controls and optimises the economic resources of the company to help it generate improvements and concrete strategies for its sector and market.
The application for financial management in the cloud is a constant point of change and innovation on the part of technological companies, being a constant novelty in the market.
Some of the differences that can be found with this type of cloud software compared to traditional software is where the servers are located. The servers are remote, the data is sent to the cloud and returned to the user after processing. In this way, the cloud frees the need to install and maintain individual software, with any employee also having access to the same data and the same version of the software. What is another advantage? Real-time access to accounting data and reports.
Benefits you get in the cloud
Just in the previous section you have been able to know some of the benefits of having the financial management in the cloud, now, we are going to discover the advantages of adopting this decision:
Dynamism and organisation
With this new financial management, dynamism and mobility are implemented by sharing data securely with whoever needs it. At the same time, this improves the planning and organisation of the different departments.
Frees up space
As management systems are hosted in the cloud, the resources of your devices become more efficient.
Intuitive and user-friendly GUIs
The graphical user interface allows you to display simple menus, customised and adapted to the special needs of each business model.
Automatic updates and security
Data is updated directly in the Cloud, ensuring information and data security. Guaranteeing the information and privacy of the data and the company, as the cloud includes security protocols.
Cost and time savings
These costs for maintenance and updates are usually lower compared to other types of specialised services. It also streamlines processes and saves on time spent on accounting tasks.
Assurance and control
The need for service assurance is just as important as the need for developers to keep abreast of new developments and upgrades. Thus ensuring control and improvement of financial data when implementing digitisation and digital tools.
Managing finances in the cloud brings many benefits and advantages, doesn’t it? If you are looking for a fully integrated, automated and functional software, which is user-friendly and saves a lot of time and increases productivity, XPENDOR is the solution for you. XPENDOR solves, in a matter of minutes, a job that could take you several hours of work every month, so do not hesitate to use our solution for managing expense notes.
Discover XPENDOR to manage your expense notes and keep your finances on track
At XPENDOR, we make it easy for your company to manage expense notes as smoothly as possible. Thanks to the implementation of all the elements we have highlighted above in our app, we are able to make it easier for companies to save with the digitisation of expense notes.
But this goes much further, it is about creating technology so that companies can enjoy more facilities in their management, so that they can have more time for their employees to take care of their business and have greater security in their accounting management. All these elements are key for any company to be able to move with ease in the competitive environment in which all companies live nowadays.
Let’s talk, ask for your free demo now!