Change is constant in this world. It is also one of the most frightening things to face especially if the consequences are particularly risky or grave. It may seem to be a trivial decision to make but the move from spreadsheets and ledgers to cloud based accounting systems can be one of the most revolutionary actions you can do for your business.
Cloud accounting software’s efficient and systematic processing could help your business achieve a competitive edge in the market place.
Here are 9 things you can do with cloud accounting software that proves it’s every successful business owner’s best friend:
1. Save money
Traditionally small businesses spend a pretty hefty budget on the licensing, installing and downloading of various software and packages onto individual computers to help them manage their business. Cloud accounting providers on the other hand have bundled together a number programs that are usually purchased separately saving you money, what’s more they have no large purchase and set up fee, it’s a low monthly payment for using the system.
A number of businesses have also slashed their IT overheads because cloud service providers directly take care of updates and program maintenance on their behalf.
2. Save time
Cloud computing was developed to be an on-tap service that requires little knowledge or input from the end user. This allows you to do away with having to install programs and download updates. Your work will not be disrupted by download bars and installation problems that will require assistance from an IT staff member.
3. Share more
You can also easily collaborate with your accountant and bookkeeper as they can be given access to your file. This allows all parties to work together in keeping your records up to date, all using one version of the accounts so no sending file back and forth.
4. Be more flexible
Cloud computing’s provides you a great data storage facility for your business instead of having to invest in more hard drives and servers to increase capacity, a growing business can simply store everything on the cloud. All you need is Internet connection and devices to access it.
5. Improve reliability
Cloud accounting is proving software as a service rather than as a product. Service providers directly manage software and update its users about issues immediately—regardless of the number of people using a single program.
Businesses face fewer problems because users of the software don’t need to worry about downloading the software onto individual computers with programs and systems the software’s not compatible with.
6. Be mobile
With cloud accounting software you can access your data, send invoices and do bank reconciliations anywhere anytime on any device. This means you are no longer confined to the office to manage your accounts. You can invoice on the move as soon as you finish a job, or reconcile your bank account whilst your kids are playing at the park using your mobile.
7. Improve security
Security is the biggest issue people have with cloud accounting because users have to hand over financial information to their service providers. However, it actually helps businesses avoid physical theft at a business’ premises. Cloud security will be far better than anything you can implement on your own desktop computer.
8. Quickly recover from disaster
Backing up important documents on a separate hard drive is important whether you’re using cloud computing or not. However, in case a natural disaster prevents you from getting to your workplace, cloud accounting software allows you to access your documents anytime and anywhere there’s an Internet connection ensuring your business continuity.
9. Establish bankability
The cost and time savings made by using cloud computing can be promoted as an advantage in business plans. It’s not just an alternative choice to traditional IT set-ups but an evolution of IT thinking. It can be applied to make a business leaner and more effective at service delivery.
To chat about cloud accounting software and what it can do for your business call us today. We can catch up for a coffee and help you kick start you business in the new year. Call us on 93803555.