Owning a business means shouldering a great deal of responsibility. From the big picture to the minute details, ultimately it all comes back to you. One way to potentially ease that burden on yourself is to look into cloud based accounting software and see how it might benefit your business.
Using cloud based software means greater flexibility, fewer expenses and higher levels of security. Because you can access your accounting data from anywhere you have a web connection, cloud based software allows you to work while traveling. No need to wait until you return to the office, which is typically the case with desktop or client-server accounting software installations.
Likewise, because you can access cloud based accounting software from any device with internet access, the costs associated with a desktop or client-server setup are eliminated. No need for expensive server hardware or user licensing, or even separate maintenance agreements and system administration costs. Cloud based software is billed on a subscription basis, so all necessary services are included in the subscription cost. This means you have a clear picture of the associated expenses before making the decision to invest in a software package. Another cost advantage of cloud based software is that it can help your business go paperless, which also reduces costs associated with ink, paper and printing hardware.
Cloud based software providers must adhere to security levels established by the International Organization for Standardization (ISO) and comply with regular audits. This sort of monitoring goes above and beyond any security procedures an individual company might institute, so cloud based accounting software is actually far more secure than a physical installation. As a business owner, this offers the advantage of leaving security concerns up to another entity.
The software provider is also responsible for ensuring data is backed up and available for restoration should the need arise. Your business need not be concerned with running backups and storing the data offsite as part of a disaster recovery plan. Likewise, the provider deploys any upgrades or bug fixes seamlessly to the cloud, eliminating downtime and the need for installation support for your business. Finally, your data is also more secure as a result of going paperless. Invoices, correspondence and forms are less likely to go missing since everything is stored in the cloud.
Cloud based accounting software can be a smart business move for your company in many ways. You can access your accounting data from anywhere you have an internet connection, which saves your business time and money.