Planning your budget for the upcoming financial year is one of the busiest times for any Financial Controller. Here at Riverbank our core income stream is our monthly recurring support fees which makes my job of budgeting revenue pretty easy. With the majority of our income remaining predictable, I just need to plan in any expected spikes from project work.
This predictable monthly budgeting is feeding into our homes too. At my house we don’t buy DVDs anymore, we have a monthly subscription to Netflix instead. CDs and even mp3s seem to be going the way of the cassette tape with streaming services such as Spotify charging a relatively low monthly fee for unlimited access to all the music you could ever want.
As a consumer this appeals to me, I find it much easier to budget on a monthly basis. We are seeing this trait in our clients too. Demand for our Riverbank Cloud services has seen a huge increase. We believe this is down to our clients not only seeing the benefits of working in the cloud but also the consistency to cash flow; removing the cash flow hit of buying a new server to replace the old one in the corner of the office and not to mention the expensive business down time.
So when you’re weighing up the benefits of cloud computing don’t forget to think about how happy your finance team will be when you tell them next year’s budget just got a little bit easier.