Businesswoman calculating finances

In an ever-changing business landscape, flexibility has become front of mind for many business owners. This flexibility often includes a shift to a cloud-based accounting software. In the current business environment, there are numerous reasons why making the shift to the cloud is a good decision.  

Anytime, Anywhere Access

Cloud-based software such as QuickBooks Online and Sage Intacct have become more robust to keep up with evolving business needs. These cloud-based options can offer anytime, anywhere access with mobile apps or a laptop with internet connection. Gone are the days when someone had to be in the office to complete daily accounting and finance functions. Business owners can now easily access their financial information while at home or traveling.

Cost

Software companies continue to update their server-based (desktop) platforms to a monthly or annual subscription-based model rather than pay an upfront fee for the software. Businesses that were hesitant to switch to an online software due to cost can no longer avoid ongoing costs with a one-time software purchase. Moreover, an online-based accounting solution is oftentimes more cost-effective than a server or desktop-based software. These server-based programs often have large upfront costs and charge hefty fees for ongoing support. 

Added Functionality with Third-Party Apps

Online platforms also offer expanded functionality via third-party apps such as Bill.com, Expensify, Jirav, and various HR and payroll platforms. Online-based software is no longer limited to tasks that can only be completed or tracked within the program. This can lead to better efficiencies and less manual tracking with spreadsheets or programs that don’t integrate into an accounting software.

Expanded Support

Online accounting software allows business owners to not only have access to the software’s customer service, whether via chat or phone, but also to a network of accounting professionals who are well versed in the software. Many of our offices have one or more Certified QuickBooks ProAdvisors. These individuals have an advanced knowledge of QuickBooks Online, having passed a multipart test covering everything from subscription options and functionality to troubleshooting common errors within the accounting system.

No More Geographical Restrictions

With the impending retirement of the baby boomer generation, many businesses are finding themselves in need of a new bookkeeper, accountant, controller, or CFO with a smaller local talent pool to choose from. Cloud-based accounting allows business owners to work with outsourced accounting firms anywhere in the world rather than within their local market. Anytime, anywhere access allows both the business users and accountants the transparency and flexibility to look at the same information in real time without the need for an on-site visit or file transfer.

Peace of Mind

Cloud-based accounting software is backed up to the cloud, which means no more stress of losing important financial information due to a data breach or computer crashing. Most online-based accounting software offers SSL Certificate Authority with password-protected login and the same encryption technology offered by many of the world’s top banks. User roles allow the business owner to restrict access to different areas of the software, limiting sensitive information to only those who need it. 

Manual security updates also are a task of the past for cloud-based software users. Rather than being prompted to run updates upon opening or manually retrieving and installing updates, cloud software packages complete these security updates behind the scenes so the user is always using the most recent version of the software. This alleviates the need to purchase a new version of a server-based software every few years due to the manufacturer no longer supporting outdated versions.

Ready to Switch?

If your accounting software is limiting your business, now is the perfect time to switch. With so many benefits, a cloud-based software could be right for you and your business. For more information, reach out to one of our professionals or submit the Contact Us form below. 

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