Cloud-AccountingWe all know how boring accounting is – it’s always about managing spreadsheets, crunching numbers over and over, chasing bills and doing calculations. It’s tedious. But it doesn’t have to be, if done strategically. This is where value lies.

Accountants are now harnessing the latest technical innovations and adopting cloud-based solutions, making business more scalable and agile. Many cloud applications are being adapted by organizations because of the convenience they provide. Cloud-based accounting is one such application, used by number of organizations to analyze and manage financial data.

You may not realize, but you have been using cloud technology since the beginning – whether it is data backup, storing photos, music or online banking, it’s all the cloud. This technology has come a long way to become a mainstream technology tool for SMBs and has proved to be a wise investment.

Issues with Traditional Software

  1. Outdated – Both the data and software are not abreast and is living in the pre-internet period.
  2. Accessibility – Traditional software spends its life on a single computer. Only one user has the access to the software, making it hard for accountants.
  3. Backup – To keep your accounting in-house, you need to store all the data on hard drive or on server. This further adds complexity, since the data needs to be maintained well.
  4. Cost - Accounting software that is hosted locally could be very expensive. Moreover, software upgrade consumes a lot of time.

What Makes Cloud and Accounting Software an Ideal Match?

For small business, if accounting software is not on the cloud, it could suck up your business’ effort and time and takes all the fun of being in business.

Here are few reasons why cloud and accounting make a perfect match:

  1. Portability – Cloud accounting helps you to stay connected to your accountants and their data from anywhere, anytime.
  2. Increased Speed – Cloud helps to speed up your turnaround time for quoting, giving you a competitive edge.
  3. Simplicity – People using clumsy PC-based accounting would definitely find the user-friendliness access of cloud technology a stimulating change.
  4. Security – With accounting on cloud, you would not need to take continuous backups, instead hosting companies would take good care of that. Your data remains safe and secure at all the times.

Cloud Accounting - Work Smarter, Not Harder

If you think that offering flexible work hours to employees and providing work from home options are the only smarter way to work, you may need to think again.

Smart working is about leveraging upcoming technologies to make the real change. It’s about using technology to provide scalable solutions that allow employees to share knowledge and information. SMBs should know how to control the forces and put to work in a productive way.

Conclusion

Let’s face it, accounting world is changing considerably. Cloud technology can significantly improve your business’ productivity and efficiency. Moving your accounts to the cloud could be more than a novel idea for a brighter future for your business.

Josephine Clark is a Cloud and Mobile Technology enthusiast and an avid writer. Other than working at QuickBooksHosting DotCom, she actively participates in various forum discussions, writing blogs and articles on topics like latest mobile apps, updates of Operating systems, Cloud hosting services such as QuickBooks hosting, etc.