5 Reasons Why Your Business Should Opt for Cloud Accounting

With cloud accounting services, updating your accounts is now as easy as updating your Facebook status. Find out five reasons why your business should choose cloud accounting over desktop accounting.

With cloud technology revolutionizing our day-to-day lives, it is time to leverage the benefits of cloud accounting for our business as well. The cloud-based accounting software that are available today offers the reliability and functionality of your desktop software, along with several additional benefits that only online accounting can offer. Is your business looking for an efficient way to handle your financial transactions? If yes, here are five reasons to consider making the shift towards cloud accounting.

  1. Collaborate and share data easily
    When your accounts are based on the cloud, working with colleagues and sharing data with your advisors becomes extremely easy. The limited access to accounts, which desktop accounting offers can make collaboration with advisers and colleagues cumbersome. For instance, if your accountant required some specific numbers, you would have to email it or copy the information to a USB stick and courier it. With online accounting, everyone can access the same numbers instantly from any location. This makes collaboration and sharing easy.
  2. Save on time and overhead cost
    A desktop-based accounting system would require heavy investments in hardware as well as maintenance, apart from software applications and servers. You would even need to hire an IT expert to manage the office network and the server. This can lead to expensive overheads. Cloud accounting on the other hand can help you minimize your overhead cost by half and also help you save on time, as there is not IT infrastructure to maintain. You can access the system from anywhere and approve payments or send out invoices. This will make your financial process effective.
  3. Access information at anytime, from anywhere
    With a desktop-based accounting system, you will be tied to your office, as your software, data and your accounts will be stored on a local drive. This will put a limitation on your access to financial information. With cloud-based accounting, you will not have this restriction, as your data and records will be stored on the cloud. Also, there will be no software application for you to download. Since you only need a web browser, you can always check the status of your business.
  4. End-to-end security
    With cloud-based accounting, your data will be secure. Unlike desktop accounting, there will no need to back-up your work at the end of the day. Also there will be no need for software updates. With cloud accounting, you will always be using the latest version of the software with the latest updates on tax rates, returns and functions. Your work will be saved automatically, saving you the hassle of back-ups. Your data will be secure 24/7 as it will no longer be present on a physical server or on the hard drive of a laptop. Your information will be kept confidential and can be accessed only by you and your team.
  5. Minimize paperwork
    Cloud accounting services can make your dream of a paperless office come true. Printing out hard copies can be tedious and put a strain on your business. With cloud accounting, invoices can be emailed directly to clients, thereby reducing the cost of postage and printing, while speeding up the payment process. You can also scan and save receipts and bills to your accounting software. With all your important documents stored on the cloud, there will no need to maintain paper originals.

Do you want to reap the benefits of cloud computing for financial management? If yes, we at Outsource2india can assist you. We offer expert cloud accounting services such as financial dashboard creation, financial management, and workflow streamlining and information backup to name a few. Our cloud accounting specialists can meet your requirements on time and provide you with a customized solution. Give your business a competitive edge today by choosing cloud accounting services. Find out more about outsourcing cloud accounting services.

Did you like reading this post? Are you currently using desktop accounting? What are some of the hassles that you are facing with desktop accounting? Do you think cloud accounting can help you resolve your issues? Let us know by leaving a comment in the box below. We, at Outsource2india love to hear from you!

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