You would be hard-pressed to find a person or a business today that doesn’t use the cloud. Several businesses today are using the cloud with tools, software, storage or communication. With the increased usage of the cloud - data security is especially important.
For CFO's, controllers, and other accountant types, all in one solutions versus best of breed software is a well-established and long-running debate. Organizations are left to wonder whether they would be most successful choosing an all in one integrated solution from a single vendor, or using a combination of best-in-class products from several software vendors.
With Intacct, the choice is clear – gone are the days where an organization is able to meet all of their needs with one single software publisher. Intacct’s best of breed philosophy allows for easy integration, freedom of choice, and increased effectiveness.
The difficulty in using an all in one integrated solution arise when individual applications and module with the integrated solution do not contain sufficient features, not on par with competing best-of-breed applications, not fully integrated, with other applications in the suite, and do not offer consolidated reporting. Vendors are not typically good at focusing efforts in multiple areas and get stretched thin when required to manage multiple solutions of a all in one integrated solution. In addition, R&D money also gets spread thin across a wide range of priorities.
A major appeal with a best of breed approach is functionality and flexibility. Best of breed vendors provide significantly greater functionality, as well as easier deployments. These advantages can stem from a singular focus on a smaller set of features and the reliance of these vendors on customer success stories. As a result, best-in-class vendors often have a deeper understanding of their customer’s needs and pain points, and a dedication to guaranteeing a positive customer experience.
CPA.com recently published a whitepaper, “Match of the Century: Application Suites vs. Best-of-Breed Cloud,” discussing the pros and cons of all-in-one suites versus best-of-breed solutions. The content examines why the cloud has changed everything and gives best-of-breed solutions a compelling advantage over suites.
With so much buzz about 'the cloud' in the last few years, many vendors are trying to rebrand old products with the buzzword to make it seem as though they are offering a modern-day cloud solution, when in fact they are not. This is known in the industry as 'cloud-washing' and is a dishonest and unethical marketing tactic. The term 'wash' in this case is to apply a thin layer of paint to freshen something up and make it look new. These companies are trying to make their old products and services seem new by adding the term 'Cloud' to it. This article intends to clear a few things up so that you can be confident you are choosing a true cloud solution.
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