FinTech was late to the cloud game. Now, they’re pretty much proclaiming from the rooftops, “We’re here!” and are likely to pave the way for others to do the same. Here’s what you need to know if you’re still on the fence about cloud-based financial management with Office 365.
If Microsoft 365 Is Good Enough For These Brands...
First, Microsoft acquired big name brands in 2017. NASCAR, British Airways, Tesco and Facebook started using the product for finance management which was enough to get people to take notice. This showed small- and medium-sized businesses that big corporations --- with lots of data, and even more at stake --- were comfortable trusting the cloud. In the second half of the year, though, a trend in companies moving to Microsoft Office 365 sealed the deal: Liberty Mutual, TD Bank Group and Deutsche Börse Group.
These companies exist in a highly regulated space thus signaling to the financial technology sphere that the cloud is a viable option. And it’s not just their move that proves it.
Rajesh Jha, Microsoft Executive VP, Office Product Group had this to say about the 29 million Office 365 enterprise subscribers. “The data ownership belongs to the customers. We are just the custodians. Our Artificial Intelligence (AI) algorithms run on massive data sets in Office 365 and show the insights back in the application to the customers - allowing them to enhance their businesses. We have hundred of capabilities today running in our Cloud."
With the most up-to-date security and the trust of well known brands, including those in highly regulated industries, it’s clear that the cloud is only going to get bigger.
Let CRA Migrate Your Data to Office 365
CRA helps companies of all sizes convert to safe, progressive software that is cloud-based. If you’re ready to take the step to Microsoft Office 365 or other cloud-based tech, contact us today for help.