Many small businesses might question “why use a cloud based accounting software?” Well, put simply, the cloud makes your life much more efficient and flexible. The big advantage of cloud based systems is having real-time data at any moment. Being able to access real-time data will help you make better business decisions. Speaking of real-time, multiple people can be working in the same file and see real-time updates that each other are making. On top of that, your software will update automatically when upgrades are available. Meaning, no more black-out periods for your IT department to perform routine maintenance.
Another great advantage of cloud based systems is the elimination of version control. No more saving multiple versions of files – creating disorganization and sometimes costly mistakes. The cloud saves your work automatically. Furthermore, there is no need to backup files. The cloud has everything backed up for you automatically.
Isn’t data entry so boring and time consuming? It sure is! If you agree, you should move to the cloud. Cloud based systems allow you to upload or link to live feeds (i.e. bank accounts) which pull in data automatically. Data entry is drastically reduced or eliminated in cloud based systems. This means less time spent doing mundane work and more time to grow your business.
Mobility and flexibility! The cloud is powered by the internet. Wherever you can find an internet connection, you can access your data and work. Being able to see your cash balance, current financial results, or outstanding bills from anywhere 24/7 will allow you to run your business from anywhere at any time! This leads to greater flexibility in your life.
So what are you waiting for? Get with the times and implement a cloud based accounting solution to improve your business and your life!