Breakfast in bed at an English cottage? How about coffee at a Spanish courtyard patio? Nah, that’s a dream especially for business owners like you. You don’t have time, and you need to eyeball on every detail. Yes, we get it: in every detail.
But hey, before you pack your dreams and not your bag, think of the possibility of seeing your company’s data, wherever and whenever with the Internet connection.
Think cloud accounting software. Here are five questions to find out if this is right for your business.
Is live data helpful to you?
Let’s face it. Live data always come in handy, especially when you’re hard-pressed to make a decision. Numbers speak the loudest, and we all know that.
Following that same beat, showing live data to a potential customer garners instant trust. There’s no chance for data-meddling, and it helps your customer to make quick decisions as well. That’s good for your business.
Also, you get a bird-eye view on how your business is running in real time. This means you can catch any abnormal data immediately before it snowballs into any serious problems. You don’t want any small leaks that will sink a great ship.
Thinking of slimming down your processes?
Repetitive tasks are unfortunately a necessary evil in business, like issuing an invoice or purchase order. But with cloud, you can streamline this by using their invoice templates for example and selecting from the wide range of add-ons.
It also offers automatic updates, allowing you to have the latest version all the time. All these only mean less time in daily operations and more on what you like.
Also, if your business expansion does not need a full-time accountant yet, do not worry. Cloud enables you to outsource by the day or hour. Even if you have both onsite and offsite accountants, they can work together easily and seamlessly. That’s cost-saving for your business as you get to scale your labour cost according to your business need.
Would you like to save big bucks?
Traditional accounting software is just expensive. You need to spend on a new server, hard drive and licensing if your business grows not so with the cloud. Only software and a device hooked to the Internet are needed, and you’re good to go!
A cloud accounting software also allows you to upsize your storage space according to what you need. And instead of paying for a full year subscription usually required by traditional software, you can opt for a monthly subscription or rate per usage with the cloud. Hence, no extra money is spent on non-essentials.
Are you worried about data safety?
Cloud may make you feel uneasy on the security, but it is far safer than the traditional accounting software.
A cloud accounting software allows you to share files using a unique link that is only accessible by your selected recipient. This lowers the risk of unlawful data-peeping or sharing compared to emailing and using a USB drive (which you can lose).
Not only that, only you can access into a cloud software with your password. That means even if your laptop is stolen, no one can get to your data. It is disaster-proof, safely stored in a remote server.
Would you like to hire an HR assistant?
With the cloud, you get to see the activities or work log of each accountant. That means live reports of their lead times, accuracy and number of errors, which are all KPIs for you to evaluate each person.
Also, by looking at the reports, you can fine-tune and weed out any deadweight processes. Errors can be tracked, and processes can be streamlined even further.
Hence, to get or not to get a cloud accounting software, we hope we’ve answered the question.