How Will Budgeting & Planning Software Work in the Cloud?
Answers
In the 'typical'
If you use a budget system resident on your own servers, the budget process can be very excel-like.
If your using a budget system, again, resident on your own server, but 'web-based', you develop a 'template' to collect the data, publish the template to your intranet, business units / departments access and populate the template, push the 'upload' button and the 'template' is 'sucked' into your server and consolidated with other submissions. You use this data collection means for creating consolidated financials.
Budget software in the 'cloud' works exactly the same as the budget software on your own server, its just the data resides off company premises in the 'server farm' of someone offering cloud / budgeting services. I understand concerns about keeping your data off company premises, but cloud / SaaS budget service providers have more than adequate protections in place to guard again evil doers.
The answer to your question is it works very well in the cloud when you use a cloud based planning vendor. Proformative has featured many of these including Adaptive Planning and Host Analytics. You can view past events or go directly to their websites for demos. They are ready and waiting for your questions on security and keeping your data safe as they get them all the time.
We are aware of at least five other cloud based planning vendors that have also launched so your choices are expanding.
Both Doug and Steve hit on the same points -- basically, web-based budgeting software is here to stay, and if Adaptive Planning is any indication, they are robust, user-friendly, economical and efficient, and are constantly adding more