Cloud accounting solutions offer a flexible and cost effective alternative to traditional on-premise accounting solutions.
Many businesses today are making the move to cloud-based accounting solutions to help their businesses stay ahead of the curve with access to automatic updates, a reduction in IT server maintenance costs, and increased productivity for today’s mobile workforce.
Here are 4 reasons why it’s time to consider cloud accounting software for your growing business:
1. Big Bang for Your Buck
Cloud accounting software typically has reduced installation costs. You pay a monthly fee based on products and services. Software upgrades are also free and are automatically taken care of by the provider. For example, Intacct’s standard package includes General Ledger, Accounts Payable, Accounts Receivable, Order Entry, Cash Management, Purchasing, and Employee Expenses. You can tweak and add optional modules like Project Accounting, Global Consolidations, Revenue Recognition, and Salesforce.com integration.
Cloud accounting software offers 24/7 operations, along with free upgrades and enhancements. Small to medium-sized businesses can start with the essential financial modules and add complexity as needed.
2. Go Green and Grow Green
Cloud accounting software reduces paper, resource use, risk of error, and expenses. Staff is no longer bogged down by repetitious tasks that drain hours of productivity. All departments can benefit from the cloud. Instead of hunting down a colleague in a different department across the building, the sales team can focus on selling instead of filling out paperwork. Process accounts payable, and put in work orders without the paper shuffle.
Automated connections bring data directly into the financial system for streamlined processing, adjusting, and analysis. In the cloud, grow accuracy and money.
3. Teleportation Doesn’t Exist – Yet
Until you are able to instantly teleport to the location of the person you need to reach, the cloud is your next best option. As your business grows there might the need for multiple offices and locations. If you are considering a mobile solution (and you should be), you and your staff can work from anywhere, anytime. Cloud accounting software gives you control from PC, Mac, iPad, or Android. As long as you have an Internet connection, you can send out everything with the click of a mouse button. Everyone collaborates on financial reports in real time. Creating a truly harmonious work environment without geographical limitations.
4. Tip the Scalability
As your company grows, you need to handle more clients, transactions, and currencies. Cloud accounting software solutions like Intacct can help your business scale quickly and easily. It supports your business from the beginning stages through phases of increasing complexity. Your business process can glide smoothly with a solution that works regardless of how many people and vendors you add to the ranks.
Cloud accounting solutions present cost effective alternatives to traditional on-site ERP systems. Cloud accounting is a great choice if you want to do away with worrying about upgrades and maintenance fees. And it’s flexible because you pay only for users currently in the system. Deployment is quick and efficient. It’s time to look at the cloud in a different light.