The cloud is an ideal combination of increased productivity, team collaboration efficiency, accounting automation, hassle-free security and easily integrated system
According to Forbes, approximately 80 percent of all companies predicted that they will be using the cloud by 2020 Here are a few reasons why your small business should use Cloud Accounting.
The opportunity to be productive from anywhere is one of the cloud’s greatest appeals to mobile business users. You and your team have some time from anywhere through the cloud access to your business software resources.
Popular business cloud services such as Microsoft Office 365 or Google Apps for Work integrate a complete set of cooperation tools into a mobile-customized bundle. Since many small enterprises use programs from Microsoft and Google for years, their cloud interfaces are familiar and make the transition simple.
While you need a cloud internet connection, several platforms have offline modes. You can do your work offline and make adjustments when you are linked up to the internet.
Team collaboration efficiency
The cloud accounting platform provides multi-user access and collaboration between the team members, instead of being limited to only one person managing their business accounts, so that both of you can track and stay up to date on the activities.
You can also use cloud accounting tools to communicate with your own accountant, exchange files and records, and answer questions in just a few clicks.
Everyone can then coordinate efforts from wherever they are, with the same degree of efficiency as if they were all together in the same space.
In bookkeeping and cash flow management, some of the best small companies have stumbled and show a weakness that they cannot afford to expose. Fortunately, there are some good cloud-based solutions that keep accounting management efficient.
EBOS SG, for instance, automates recurring invoices in the best cloud Accounting Software. many manual accounting services so it creates more time for Cloud Accountants to provide Business Intelligence to customers. There will be real-time processing in creating invoices and chasing customer for payment which will all be uploaded in the cloud. With a more efficient invoicing process and automatic payment, you can reduce manpower, improve operational efficiency and cash flow to scale to the next goal.
The ability to manage your business finances anywhere improves your ability to operate remotely and enables your business to accept mobile payment.
Providing Hassle-Free Security
Many small businesses at one point were hesitant to migrate to the cloud because of safety concerns today, however, cloud providers are far more advanced in safety than those provided by the IT department on-site.
Amazon, Microsoft, Google and Salesforce all offer a security solution that includes both firewall, data encryption and multi-factor authentication. These organizations are fully engaged in cloud security and are ready to address any online security concerns.
The best way to relieve your cloud concerns is to educate yourself and your team. Once you understand the degree of physical security, backup and recovery and risk mitigation fully, you will have the confidence in your decision that you make
Easily Integrated System
Many great cloud-based businesses tools and frameworks will help you to operate your business more effectively and integrate easily.
In the past, it took a lot of extra costs and considerably longer time to deal with any component of the business whether it be payroll, invoice payments, HR or general accounting. You can now get everything to the cloud so you will have a huge virtual control room for yourself.