Accurate accounting isn’t just a legal requirement, it is essential for the successful management of your businesses finances. That being said, traditional accounting can be a huge drain on your time and energy – especially if you operate a small business. This kind of thing does nothing to add value to your business, but it does do a lot to detract enjoyment from it.
In the end, it all comes down to costs and cloud based software can help you save some. What is the cloud, though? Think about search engines, or accessing your online bank account. When you use either service, you are using cloud based software and hardware. Impressed? The so-called cloud is a platform, one which serves to make data, software and even hardware accessible to anyone and at anytime (with correct permissions, of course).
Why problems with traditional accounting software exist
The software is unlikely to be kept up to date, it can only work on one computer and stored data isn’t secure (it is often stored on USB drives, for example, for sharing between machine). If that wasn’t enough, very often just one person has access which means that people that need to access the data probably can’t.
Customer support, if there is any, is costly more often than not and can be slow to respond.
Accounting software is at home in the cloud
Cloud based quickbooks, quickbooks hosting and associated services are perfectly at home when based in this kind of environment. Possibly the biggest benefit of cloud based computing is the ability to access software and systems from any device, anywhere in the world.
There is also no need to install any kind of software on the device that you are using, meaning that even basic smartphones, tablets and netbooks are suddenly made into computing powerhouses.
The question of security
Regardless of the size of your business, security is always a priority, and cloud based storage is one of the most secure ways to store your data. Because of the way cloud software operates, even if your device or laptop is stolen nobody can access your data unless they also have access to your online account.
This, of course, also applies in the event that your device is lost or damaged beyond repair – your data can still be accessed from elsewhere. From a financial security standpoint, this kind of protection is invaluable.
Key benefits for your business
- You have an unobstructed view of your finances, in real time all of the time.
- Collaboration is made much easier with multi-user access
- You never have to worry about software or hardware maintenance
Cloud based computing and financial activity has never really be linked except in relatively recent years, but the benefits of using cloud based infrastructure are clear. These things don’t have to be complex or confusing, as they are relatively simple things to get to grips with.
Image thanks to Pixabay