In the past few months, most organizations have been forced to abruptly deploy their work and back office operations to a remote workforce as we all adapt to the shelter-in-place and social distancing requirements that are our new normal. This may have resulted in decisions that were the most expedient as organizations struggled to complete day-to-day operations that were designed for an on-premises workforce. However, as it is becoming apparent that social distancing will be around for a while, even once we can return to our workplaces, it becomes more critical to think about the long-term technology stack that can best meet the needs of a more remote workforce.
As we have all found ourselves suddenly in a remote working environment, even basic tasks like printing checks and getting them signed or obtaining receipts to support an expense report can be cumbersome and difficult. Immediate solutions like enabling ACH at your bank or implementing a bill pay solution may result in duplicative processes to enter the information into multiple systems (bank, expense report, financial, etc.) or could result in a change in your internal controls.
For example, you may have previously required two signatures on checks versus only one authorization on ACH transactions due to who had access in the past. It is important to consider the entire technology ecosystem and the impact it has on your processes and internal controls, especially during this time when you may also have a reduced headcount. Moving things to the cloud is a good first step, but systems also need to be integrated so data flows seamlessly from one system to the other without need for manual intervention by your users.
There are many benefits to moving your technology stack to the cloud, including:
What we are in the middle of right now is a paradigm shift. Organizations have been moving to the cloud for over a decade, but many have resisted for various reasons. This pandemic has made it more essential than ever to move critical business functions to the cloud to ensure there is no interruption to your key processes and workflows.
Need help determining the right strategy for your organization? Reach out to our experts, who can help with next steps. To find more information on how to keep your business running through disruption, visit our COVID 19 Resource Center.
May 15, 2020