Workday: 50% Companies Move Financial Data to Cloud

Workday reveals 57% of large enterprises in Singapore intend to move their finance systems to the cloud, with one-third (33%) expecting to do so in the next 6-12 months.

In the past year, Singapore has been reeling from a spate of high-profile cyber incidents, including its worst ever cyber attack, the SingHealth data breach, which compromised the data and personal particulars of some 1.5 million patients.

Rob Wells, President, Asia, Workday, said: “We see modern finance professionals facing a dual burden of being expected to expand their role but often without the data and technology to do so. As a result, it is unsurprising that most large enterprises are shifting their finance systems to the cloud, to both enhance security and increase real-time data analytics capabilities.”

“As technological transformation and disruption accelerates, CFOs and finance professionals must equip themselves to be agile. Cloud technologies have enabled companies to condense the timeline on the integration and adoption of new technologies. These professionals and their organisations can use the cloud to gain extensive competitive advantages and much more nimbly than competitors who must devote resources to managing infrastructure. ”