Why Your Business Should Drop Conventional Record Keeping for the Cloud
Wednesday, 09 July 2014
 
PTA Group

Okay seriously, maybe it’s time your accounting modernised a bit? The likely reason you’re reading this article is because you’ve heard the buzz surrounding cloud-based accounting and you’re curious about the benefits. Great! That’s exactly what we’re going to talk about. Let’s get started.

#1: Cloud Accounting is Completely Responsive

What this means is that you have 24/7 access from anywhere on the globe with internet access regardless of the device you happen to be using. So, whether you’re using a laptop on a plane heading to Europe, or you’re in Europe and you forgot your laptop in your hotel room you can run to the nearest business center and take care of business.

You could be sipping tea and lounging on the beach while entering sales quotes into your unique cloud system in real-time. Or perhaps you need to raise a sales invoice on the spot with your smartphone, no problem.

#2: Comprehensive Team Access to One Place

With everything securely kept in the cloud your entire team can access information as easily as you can from anywhere in the world as long as they know the security protocol and passwords. With the click of a button relevant people can see your entire data file to make things go that much smoother throughout the year, especially around tax time.

#3: No Need for Hardware

In the past we backed up everything on our hard drives and all our important data onto physical items like CD-ROMs and then on to USBs. While those are still good practices, the cloud eliminates the need for them and there’s nothing to install – it’s all backed up automatically. You don’t need to wait until you see someone to show them what they need to see. The cloud keeps everything in one place in the virtual realm under lock and key.

#4 Dramatically Cheaper for Business

Why bother with the expense of housing and maintaining your own servers when you can store everything on the cloud. Or, in other words, on someone else’s server. They don’t have access to your information, they just maintain the physical server. When you couple these savings with what you save on accounting software (and endless updates) it really becomes a no-brainer.

In a research survey by Sort My Books, they found that 82% of companies reportedly saved money by shifting to the cloud. 

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At the end of the day it’s the safest option given where we are with Internet security big data. Consider the transformation of Internet-based banking. There was a time, in the beginning, when people didn’t trust their bank accounts to nothing but a password and some security questions, but today it’s common practice. Which leads us to the next benefit of cloud-based accounting.

#5: It’s the Future

In truth, within short order your accounting information and the entire accounting system will be in the cloud anyway. That’s a fact. Keep in mind that the servers used for these practices are housed in highly secured facilities protected by heavily armed guards…and, they use the same level of encryption and security as your bank does.

Cloud technology is advancing and evolving rapidly and those who get in now and integrate will be far ahead of the game. Start now and save yourself both time and money.

If you would like to have a discussion around cloud-based accounting, let’s arrange a chat

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