Cloud accounting software is becoming increasingly popular, but what is it and why should your business make the switch? Even if you’re already using accounting software, moving your operations to the cloud could improve efficiency and save you money in the long run. Websites like Sage.com make it easy to take your books online, offering a professional level of service from start to finish.
What is Cloud Accounting Software?
Basically, cloud accounting software means you’ll be moving all your books from your computer’s hard drive to the internet. You’ll pay a subscription fee to your software provider for continued access each month as opposed to a one-off payment to install the software to your computer.
Cloud Accounting Software Benefits
If you’re wondering why keeping your books online could be better for your business, consider the following benefits before deciding to stick with what you’ve got.
When your accounting software is online, you’ll be able to access it even when you’re out of the office. This is ideal for small business owners who travel often or have a team that is completely remote and spread across the world. Most cloud-based software will even be accessible on devices like phones and tablets as well.
Moving your accounting to the cloud actually makes your data more secure, not less. Your online software will be updated constantly and benefit from state-of-the-art protection against hackers and viruses. What’s more, you won’t need to worry about losing all your information should your computer’s hard drive fail. While you might have a backup, sometimes unfortunate incidents like fires can destroy a small business’ records. Cloud accounting will always be accessible as long as you have access to the internet.
Perfect for Collaboration
Sharing is always easier online. Cloud software means your team will all be able to collaborate no matter where they’re working from. This can streamline processes, helping your business to become more efficient without any significant investments. You won’t have to use physical drives like USBs to transfer data or send lengthy e-mails about updates. Instead, everyone will be able to see changes in real-time as they happen.
Cloud accounting software benefits from all the latest technology and updates. Software that’s installed onto your computer is often a particular version, which can become outdated quickly. Because you pay a subscription for your online services, you’ll benefit from instant access to all new developments, ensuring your user experience is always as smooth as possible.
Depending on the cloud software you choose, you may have access to 24/7 support if you encounter any issues. Traditional software issues may take a lot of troubleshooting to solve, but online alternatives typically have a team waiting to support you with glitches. This can be particularly useful when you first start using cloud-based accounting solutions, as you may have questions about how to complete certain tasks. While you’ll get the hang of things quickly, it’s always nice to know there’s someone ready to offer a helping hand.