It’s clear that cloud accounting cannot be dismissed as mere hype or a
passing trend. Cloud technology and mobile devices are fast becoming
necessary tools that small businesses heavily rely on for efficient day
to day operations. Mobile tools like smart phones or iPads make it
easier to conduct real time collaborations and allow business owners to
access documents on the fly.
But despite the ubiquity and ready availability of these tools, UK
Intuit Manager Rich Preece says
that only 4-5% of SME businesses and
accountants support clients using cloud accounting systems. A Sage
Accounting Solutions survey of 264 US based accountants claims that only
10 percent of the respondents take advantage of the cloud to service
clients.
It’s time to increase these numbers. If you’re one of those SME’s
that are resistant to the idea of using cloud technology, it’s high time
that for you to get past your fears and apprehensions.
Here’s why.
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Online collaborations with staff is easier.
Accessing data on a desktop in a fixed location is a thing of the
past. Cloud computing allows your employees, accountants, and other
authorized users to look at the same up-to-date company figures
regardless of their location. This comes in handy when clients demand
service and accounting advice right here, right now.
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It saves trees.
Using reams of paper for documentation and accounting is increasingly
being viewed as an unnecessary and wasteful practice. And rightfully
so, because resources used for printing can easily be transferred to
expense management tools like ReceiptBank, Expensify, Quickbooks, or
Xero, to name a few. Having information stored in the cloud is easier,
less costly, easier to retrieve, and easier to update.
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Less data encoding means more time to serve clients.
Manual encoding is fast becoming an antiquated activity. If you’re
still dedicating a few hours each day for data entry, you’re getting
left behind by competitors who leverage cloud accounting, because the
latter have the ability to proactively serve more clients efficiently,
with less effort. Time, indeed, is gold, and the more of it that’s
wasted on data entry, the more of it you lose.
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Access to real-time data.
Clients expect you to deliver advice based on updated data. Having to
wait for quarterly statements or using three-month-old data is no
longer acceptable. Setting up systems to include bank balance feeds in
your company data, automatically setting up invoices to release at
designated times will keep your company books continually updated.
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Give you a more accurate picture of your company’s overall financial well being.
Because accountants and decision makers can look at the books
whenever they want to, these key players can respond faster to
challenges and avoid circumstances that will put their books in the red.
More access to fresher data means better decision-making capabilities,
which in turn help you keep track of the bottom line.
It’s time to let go of old data sheets and manual pencil pushing at
this day and age. With all the available technology, it’s only a matter
of time before cloud accounting becomes the industry standard.
Managing your business’ finance and accounting on your own is taxing
and does not always result in favorable results. With our customized
solutions, rest assured that all your concerns would be addressed
accordingly and at the same time, it would allow you to concentrate on
other important factors vital for your company’s growth.
Learn more!
