Data Drives Success

Real-Time Data is Success Now with Procurement

Three years ago, only one-third of CFOs reported they felt they could trust the cloud with their information. Fast forward to today, 73% of CFOs feel they can trust the cloud. This increase is a major jump in the finance industry.

This jump is largely driven by the necessity of real-time, robust data. Without the cloud, gathering data into a single source of truth is nearly impossible. Even with the increase in trust, 70% of CFOs are not confident that they have the data they need to make timely business decisions. So while CFOs recognize the need for better data, many still lack the ability or technology to get there.

Adaptive Insights notes that one reason for this lag in better data may be the continued use of spreadsheets, which inhibits financial teams from sharing one unified set of data as is possible in the cloud.

As technology improves, CFOs will find better solutions for their financial needs in the cloud. Gaining access to real-time data is now more possible than ever with solutions like Vroozi that offer access to all approved users to a single source of truth.

For more on cloud procurement solutions, register for a live demo today.

Source: PYMNTS.com, CFOs Trust The Cloud, But Aren’t Gaining All Its Benefits Yet