Traditional Way of Planning and the Associated Challenges
Organizations implement Enterprise Performance Management (EPM) and analytics solutions for their planning and reporting requirements. Most invest in an on-premise model due to data security and safety requirements.
But these concerns do not make an on-premise deployment superior compared to the cloud. They require add-ons to build custom dashboards and generate reports in order to meet organizational requirements. Remote login to on-premise systems is often not seamless as there can be issues such as restrictions in connecting through VPNs.
Large, multinational organizations with complex processes and structures are optimizing their planning processes to increase flexibility and agility in order to make quicker decisions. With advancements in cloud computing, accessibility challenges and issues are no longer a concern. Many software vendors are moving to a cloud platform to enable easy access and more rapid information consumption.
A Paradigm Shift – Hybrid Planning
An ideal environment for large organizations would be to perform the complex processes in an on-premise environment and perform reporting and analytics in the cloud. This would provide non-disruptive insights and information based on the processed data.
This requires a hybrid planning model – combining a mix of on-premise and cloud-based applications in the same IT landscape. A hybrid planning approach allows a business to remain competitive in a quickly evolving business landscape by unlocking new capabilities in the cloud, while at the same time, preserving core data and investments in on-premise solutions
With hybrid planning, organizations have the option to have their data stored and accessible on-premise and process their reports in the cloud. With hybrid planning, BI and planning processes take place in a unified platform.
Some of the key benefits of a hybrid planning approach are:
- Creation and modification of planning models for data-driven budgeting, forecasting, and analysis - all in the cloud
- Alignment of plans across all areas of business with collaboration tools and the setting of unique permissions to control access to critical data
- Better performance and higher reliability due to the scalability of the cloud which can handle dynamic workloads
- The capability to run legacy and generalized applications in the same cloud environment
- Minimizing the complexity of managing both on-site and off-site IT with a single cloud environment
On Cloud Today for Sunshine Tomorrow
Organizations planning to implement on cloud today will have a technologically strong and forward-looking foundation. An agile environment requires that organizations be ready to embrace technical transitions happening in the cloud every day. This makes being in the cloud a business necessity when considering the cost, time, connectivity, and efficiency benefits. Planning in the cloud can become a one-stop solution for all future planning and reporting.