While recognizing the potentials of cloud, organization naturally are keen to extract the maximum value from existing system investments whilst leveraging new technologies to make finance processes smoother and more secure, all while gaining greater visibility and control over cash. This is where the hybrid cloud approach comes into place.
The hybrid cloud essentially involves connecting an ERP system with additional cloud applications to produce a single source of truth, without any complex interfaces. By essentially running a core solution in an ERP system and adding satellite solutions around these ERPs in a cloud environment, the hybrid cloud ERP model enables organizations to achieve new levels of centralization, making it an up-and-coming phenomenon in the world of finance and treasury. With a hybrid cloud organizations can
- Bridge the system gap between ERP and Cloud
- Put in place a central reporting capability for the entire organization without causing any systems disruption or upheaval to users
- Make the most of the existing ERP-integrated solution, whilst gaining visibility over the cash of any decentralized subsidiaries which are not on-boarded onto the ERP.
- Enable different departments to work in different systems, whilst still utilizing the same set of data.