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Cloud technology provides chief financial officers the flexibility and agility needed to succeed in a role that is quickly evolving to meet business demands for deeper insights, predictable outcomes, innovation, faster time-to-value, and tighter security controls. For the modern ‘digital CFO’, cloud has become a key strategic tool that can unlock innovation and reduce cost. McKinsey estimates that there is $3 trillion in value at stake. Digital transformation is no longer the sole preserve of IT teams. Implementing cloud-based tools such as monetization platforms, as well as enterprise resource planning (ERP) and financial management applications has created opportunities for financial leaders to streamline processes, accelerate progress towards new business models, and drive value across their organizations.

Accelerating finance transformation with the cloud

Financial leaders face a strict regulatory environment and routinely deal with highly sensitive information. They may have concerns about the complexity of migrating as well as worries about cybersecurity. But times are changing: CFO insights from the PwC Pulse Survey suggests that 48% of CFOs plan to focus on data analytics, AI, automation, and cloud to deliver both near-term operating efficiencies and long-term top-line growth. Today’s CFOs are becoming more technologically minded. Cloud-based financial planning and management solutions break down data silos, providing a comprehensive view of the business. Leaders can access real-time insights into financial performance, operational metrics, and the overall health of the organization to aid strategic decisions. As customer buying preferences evolve, transaction processes increase in complexity. Cloud-based solutions can automate billing and collections across subscription, consumption, or hybrid business models—giving customers flexible pricing options while removing much of the transactional burden from finance teams. The pace of market innovation makes quick, frictionless adoption of cloud applications critical, but inappropriate governance creates risk. A 2022 survey indicated nearly 45% of cloud software purchases take place outside of established procurement processes. Trusted cloud marketplaces enable finance teams to balance agility and risk management by quickly deploying applications without sacrificing governance and control.

How business applications powered by AWS can help

With Amazon Web Services (AWS) and AWS Partner solutions, businesses benefit from a suite of enterprise solutions harnessing cutting-edge technology in a way that can be tailored to specific business needs. With AWS Marketplace, customers have reduced time spent searching and selecting vendors by 66% and time spent performing invoicing tasks by 50%. Because these applications are built on AWS—the world’s most comprehensive and broadly adopted cloud—and integrate with AWS services, customers from startups to the largest enterprises operating in regulated industries can scale their businesses flexibly and securely with confidence. From delivering holistic, real-time planning and reporting, to automating manual financial processes, and managing new revenue models, business applications powered by AWS enable CFOs to accelerate the time from solution discovery to business impact while still meeting IT requirements. Tangible results can be seen with customers like Aqualux Products, a designer and manufacturer of shower enclosures, bath screens, and related shower accessories, who implemented Infor CloudSuite Industrial, an AWS-powered ERP, in only 4.5 months. “By implementing Infor CloudSuite Industrial, we have become a more agile organization,” Steve Lee, CEO at Aqualux Products, says. Using the solution, the company reduced its monthly overhead costs by 20%, automated core processes, and facilitated digital transformation. With business applications powered by AWS, financial leaders can automate processes, gain insights across their organization, and optimize resources while still satisfying the compliance requirements of virtually every regulatory agency around the globe. In so doing, CFOs are transforming the way their teams operate and drive business growth.

Learn how to leverage AWS Partner solutions to drive value for your business:

Reimagine the tech and finance relationship

Transform with cloud-based business systems

Sage Intacct: Scale your finance function

Automate your revenue process

Anaplan’s connected planning solutions help you improve decision making at every level so your business is ready for whatever comes your way.

Infor builds comprehensive and flexible industry solutions preconfigured to meet your business needs. All delivered on an extensible platform with world-class security. That's ERP simplified.

Sage removes friction and delivers insights by digitizing business processes and relationships with customers, suppliers, employees, banks and governments with finance, HR, and payroll software.

Purchasing Zuora through AWS Marketplace will help make the transaction process seamless for you - all while enabling you to fuel business growth and set the pace for innovation within your industry with best in class subscription services and audit-proof revenue recognition offerings for any business model.

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Ebook • 3 Min

Why CFOs should embrace the cloud as a strategic tool

As businesses are effectively being remade by technology, the cloud enables financial leaders to accelerate revenue growth, minimize operational risk, and maximize the value of their data.

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