Google recently released a report showing that small to medium sized businesses that use cloud services are actually 21% more profitable than businesses who don’t incorporate the cloud. The report also found that organisations using the cloud grow 26% faster too.
So the cloud clearly holds great benefits for small businesses, and now the accounting industry is beginning to embracing how the cloud can actually help with your accounting needs too;
The beauty of the cloud software is that you no longer have to pay costly upfront fees, only smaller fixed monthly fees. You know exactly how much all your accounting needs will cost you in advance. As cloud software is all managed remotely, when there are any updates released you don’t need to buy them or spend time downloading them, you automatically get the benefit of the updates at no added charge.
Once you have signed up to the cloud you can literally access your accounts from anywhere, using any device that is connected to the internet. What’s more, you aren’t restricted to one user have access or being tied down to one desktop as you could be with other accounting packages. Giving you ultimate freedom and minimum restrictions.
You no longer have to stay late in the office if you want to check you books, you can literally do it within a matter of minutes from the comfort of your own home. Navigation through your accounts is straightforward and user friendly, simplifying your processes. Also software updates will all be done by your service provider automatically, so you don’t have to waste time waiting for the latest version to download.
Quick financial management reports
Managing your accounts has never been so easy. Cloud accounting software offers user friendly navigation and really allows you to drill into your business. Through the click of a few buttons you can easily generate new management reports, forecasts and graphs to demonstrate the health of your business.
Real Time Collaboration with your Accountant
Cloud accounting is the perfect tool to use in collaboration with an accountant, giving you full interaction and advice on a daily basis. To successfully run a business you should always know how strong the health of your cash flow is, or if your clients are taking too long to pay. Combining cloud accounting with a fully qualified accountant will give you access to up to date relevant information and from there you can plan other parts of your business accordingly – you can work together effortlessly to ensure your books are kept straight all the time.
At Flow, we use the industry leading software providers and combine them with fully qualified and experienced accountants to ensure each of our clients gets the most from the cloud. Cloud accounting is a great tool that will continue to grow and grow over in the coming years.