Cloud Accounting: An Ideal Solution for Small Businesses

| November 5, 2014 | 0 Comments

While many small scale businesses are of the opinion that cloud sourcing is something that is not a secure and safe option, in reality it is a much safer and beneficial solution. There are several benefits that a cloud accounting system can provide.

Wide accessibility, third party cloud integration, effective backup, better bug fixes, and immediate upgrades are some of the advantages you get with cloud accounting. But regardless of the efficacy and benefits offered, it cannot provide complete security from hacking. But when compared to the security of their servers, business owners find the cloud solution a safer model.

accounting

Why you need cloud accounting?

For fast and smart processing of various accounts, a cloud based accounting is a prudent investment. You get a better financial perspective and make improvements in your business, thus increasing the productivity to a great extent. Accounting software that traditional businesses use takes up much time, effort, and money. This can make it difficult to focus on the business and marketing aspects. With cloud software, you can save money and time immensely.

Difficulties Faced in Traditional Accounting Methods

The traditional accounting system or software is not up to date and works on a single computer only. Only one person can have user access making it difficult to access customer details or financial data. Further, data in a USB drive is neither reliable nor secure, as it is constantly on the move.  Backups, though they provide good support, are expensive and very complicated. Upgrading is also a time consuming process. And customer support is rather slow and expensive too.

How cloud helps in accounting?

  • Cloud platform helps in accessing software and data online at any time, place or device.
  • The hard drive does not hold its sway over your business operations anymore. With an internet connection, you can easily access the accounting software from any device.
  • Business owners have constant access to their accountants and data.
  • And the accounting software is scalable, easy, convenient, and cost effective.

When you use cloud accounting software, it is sufficient if you pay monthly subscription alone. The hassle of installing and running applications in your system is not necessary.

Secure Service

Storing information in the cloud is the best way as you need not be concerned about physically securing the business and financial information. In case your system is damaged or stolen, unauthorized access to your data on cloud is not possible without login information. Provided you have internet access and a mobile or desktop system at your disposal, it is easy to access information and restore the data. Thus, there is absolutely no downtime here. The level of control you have on the data is more with cloud accounting.

With services like personal banking becoming a common feature online because of cloud computing, using the cloud for small businesses seems the smart way to increase profitability.  From creating customer and vendor records to maintaining the income, expenses, and other transactions the cloud accounting offers an ideal solution all around.

Author Box:

Kevin Edward explains you about the secret of securing profits in small businesses. He also helps you extract the full benefits from a cloud based accounting, thereby improving your business prospects greatly.

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Category: Finance

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