TREND #6: INNOVATION: MOVEMENT TO THE CLOUD
Enterprise performance management solutions are in a period of rapid transformation to the cloud. According to Gartner, the issues driving CFOs to consider the cloud are:
- Faster Development = Increased ROI: A recent study by Nucleus Research reported that cloud applications deliver 1.7 times the ROI of on premise applications including less consulting and infrastructure.
- Quicker facilitation for mergers and acquisitions: Cloud applications deliver the agility to shorten lengthy business process alignment and more quickly realize the strategic benefits that drove the merger.
- More flexibility to enter new markets: Healthcare is now in a state of consolidation, and realignment and cloud solutions can help organizations support newly established or acquire offices with many of the locked-in hardware, integration, and support costs previously required.
- Shifting from CAPEX to OPEX: With cloud, CFOs enjoy the advantage of an operational expense approach without the upfront hardware, software, and other costs of a capital expense model. This both alleviates cash flow concerns and increases ROI.
- Updates as a service: Instead of “lift-and-shift” upgrade processes that must be planned for months in advance, with the cloud they are automatic, secure, and installed by the vendor on a regular basis.
Cloud solutions must provide the ability to solve complex use cases and integrate seamlessly with data warehouses and other data sources.
This is just one of the healthcare enterprise performance management trends. In our new guide, we take a look at six performance management trends healthcare executives need to be thinking about in 2016 and beyond. We’ll identify technology strategies and solutions that will help healthcare organizations succeed in a data-driven, cost-management culture.