3 reasons it’s time to look at cloud based accounting
Whether you currently have a PC-based accounting system, or are still using spreadsheets, you’ll be aware that the move to cloud-based accounting has become more a matter of “when” rather than “if”.
If you haven’t yet taken the plunge and bought into one of the accounting packages, you’re in the perfect position to choose a cloud-based service. For this buying decision, you need to ensure that the cloud provider has robust security in place. After that, the rest of your purchasing assessment is really about the services you’ll get.
If you have already invested in PC-based system software, take a look at how much it’s really costing you and compare it with some of the cloud-based accounting services. Because they have economies of scale, and highly automated processes, these are often able to offer a higher level of service for a lower cost. The Economist, amongst others, has pointed out the cost advantages that the cloud offers to users.
Three strong reasons to move to outsourced accounting services https://www.mushroombiz.co.uk/homepage/services/accounting/ that use the cloud are collaborative working opportunities, accuracy and storage facilities. Let’s look at these.
Tablets, phones, laptops – suddenly every employee who has access to a device can log in and work on the accounts. They don’t have to be in the office, which is leading a lot of businesses to take a long hard look at whether they actually need an office. Staff will begin to collaborate in new ways, working jointly on projects and pieces of work.
Once your processes are automated by your cloud accounting service provider, it becomes a lot easier to spot errors, gaps and even fraud. Entries and reports are standardised, as are expense claims and pay slips, making the whole business easier to manage. Cash flow and forecasting are also automated, enabling greater control over the business.
You don’t need to install any software, or test upgrades or do back-ups. That’s all done in the cloud by the service provider. For a small business, this is a major saving because fiddling about with PC-based software can take up a lot of time. So with cloud-based services, you can concentrate on your business instead of struggling with IT issues, hardware failures, cabling and all those other IT headaches.