Technology is moving at rapid speeds, and so is your company. Now, unlike any other time in your life, information is right at your fingertips. It’s as simple as opening up your phone and knowing where to look and you can answer just about anything. This also makes keeping information current across companies even simpler. The hot topic nowadays is the cloud and how it can benefit not only yourself personally but how it can benefit you and your company professionally. But is the cloud option right for your businesses accounting? I have four reasons why it just might be a no brainer.
Reduced IT Costs
Using a cloud-based accounting solution can cut down on your company’s IT costs. This is because the company providing the product being used on the cloud covers everything from the software to hardware. If your company houses any servers, you know that even just one hub can be demanding, not to mention takes up office space and puts off a great deal of heat. Fewer employees to cover IT needs frees up capital and possibly makes room for more profit in your company.
Flexibility of Work
This is easy; you and your managers will have access to your company’s information from anywhere, anytime. Need to work from the airport? The cloud has you covered. Giving your employees the freedom to be able to work from multiple locations while sharing the same information the main office has increases productivity, and allowing your employees the flexibility the cloud provides increases employee satisfaction.
Company size, whether large or small, can benefit from having a cloud-based financial solution. A cloud solution can give smaller businesses the flexibility to keep more employees mobile to grab potential customers. At the same time, a much larger company can benefit from that as well as keeping information uniform across all levels of management. Both companies benefit from the fact that they can be kept lean while not having to worry about multiple products floating around with out-of-date numbers or errors from manual re-keying.
Always up to date
Cloud solutions remove the need for costly and time-consuming upgrades. Your systems are always on the current version, with no need for month-long upgrade processes that involve everything from hardware upgrades to rewriting all your reports and dashboards. Software upgrades are rolled out far more frequently than with legacy products, with far less disruption to your business. So you can spend more time working on your business, rather than spending it on your upgrades.