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Economics of Cloud Computing Too Compelling to Ignore According to Proformative Study

National Survey of Corporate Financial Executives Reveals Accelerating Adoption Among Smaller Companies

SAN JOSE, CA–(Marketwire – September 16, 2010) –  Proformative, The Resource for corporate finance, accounting, and treasury professionals, today announced the results of an extensive survey of CFOs, Controllers, and other financial professionals regarding the use and understanding of Cloud computing and ‘software as a service,’ or ‘SaaS.’

The survey was designed to elicit critical information on what could be the largest change in technology platforms since the emergence of the Internet. Proformative received 432 responses from executives and directors around the country, with responders representing companies of all sizes.

Overall, the responses indicate the economics of cloud computing are encouraging small- and mid-sized companies to adopt the new technologies quickly, while bigger companies are either waiting on the sidelines or adopting the technologies on a divisional or business unit level to ‘try them out.’

“The Proformative survey tells us that CFOs, controllers, treasurers, and others who hold many of the keys to a company’s profit are moving forward with some sense of caution,” says John Kogan, CEO of Proformative. “But it’s also clear that smart companies are paying close attention to what is essentially a new way of doing business.”

According to Kogan, the three most important inferences to be drawn from the survey results are:

  • Cloud Computing and SaaS will be critical to companies over the next few years, and CFOs feel like they are already “behind the curve” and need to be educated,
  • Cloud Computing and SaaS reduce IT CapEx and OPEX and create a direct link between IT consumption and cost, and
  • Cloud Computing and SaaS have delivered to many firms higher ROI, increased collaboration, and greater confidence in systems and their business value.

“It’s obvious that Cloud Computing and SaaS-based applications are transforming the way that many firms will consume IT services and applications over the coming years,” says Kogan. “We can’t say the technology will be for every company, but we will say that every company needs to take the time do the investigation.”

Proformative recently released a comprehensive white paper titled “Cloud Computing and SaaS: What Every Finance Professional Needs to Know” for CFOs and IT leaders considering their position on this emerging technology. The firm is also making available videos of recent seminars on the topic at its Cloud Computing and SaaS resource center.

Anyone in the world of corporate finance, accounting, and treasury can take advantage of Proformative’s valuable resources and vibrant professional community by registering at www.proformative.com.

About Proformative

Proformative (www.proformative.com) is a free and open resource and community dedicated exclusively to serving the needs of corporate finance, accounting, treasury, and related professionals. Founded in 2009 in Silicon Valley, Proformative is community-driven and delivers a productive, ‘noise-free’ environment for its members. Proformative’s members find free resources and a community of their peers that enable them to learn and get work done.

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