If you are a business owner, be it small or big one, you definitely need the right business accounting software to control and manage all of your finances. Of course, you can be still using the Excel forms as your main accounting program, but that is so old-school. Plus, using Excel-like accounting options is dramatically inefficient. Moreover, today, even when you have an installed business accounting software, it is becoming outdated as well.
So these are a few questions we will overview in our article:
Why to invest into a cloud accounting software solution?
In fact, if you want to run your business successfully and efficiently, you have to be up to date, and thus, you have to be tech-savvy. Meanwhile, all tech-savvy business owners choose cloud accounting software programs. Are you now wondering why you should invest into a cloud accounting software solution? Here’s why: traditional accounting software has many problems. Just to name a few of them:
- Neither data nor software is up to date
- The software is installed on the computer and works only on it. If you travel, you need to take that computer to be able to access the software
- The program is not secure and reliable enough
- Only one person has access to the software
- It is rather expensive and hard to keep backups
- It’s expensive and rather time-consuming to perform software upgrades.
- The support is expensive and slow.
Sounds familiar for you? If yes, you have to stop this and get a robust cloud accounting program.
What does cloud accounting software mean in practice?
Typically, a good cloud accounting software helps you keep your business a little more organized by letting you track your business’s financial health and monitor the money moving in and out of your accounts from any location. If you invest in a good cloud accounting software application, you may definitely count on better decisions, higher efficiency and a solid cut on costs, in particular, in human resources and travel expenses. But to be more specific, the key points why cloud accounting software is a wise investment will be described below. So, let’s take a closer look.
Therefore, working in the cloud-based accounting systems:
- Makes both you and every member of your team mobile: your team can access your business cloud software from any device with the internet connection from any location. Needless to add, with any cloud accounting software solution, there’s no need to install and run applications over a desktop because both you and all members involved in your team with the given access can enter your application online. (Note the access is secure! Only those who granted access can work in the cloud software program)
- Gives you a better overview of your finances: you have all your data gathered into one system in real time; the data is always updated. Once somebody of your team members changes/edits something, the rest of your team sees it in real time.
- Offers you an ability to seriously improve collaboration with your team: your team can be updated with everything happening within the business and every member of your team can do their job within one platform at the same time.
- Saves time and money in the long run: you don’t need to spend time and money on business trips, tickets, hotels and other travel expenses- every member of your team can work in real time from any location, be it day or night.
- Helps you achieve more accurate demand planning: you know what your customers want and when, you can easily check the real place/price of all your products. Simply put, you have what customers want the moment they want it.
- Safeguards you from lost data, lost sales and left customers: your data is securely maintained in real time, and thus, you may sleep well knowing that it won’t be lost or misused. By default, cloud-based accounting systems use bank-level security to protect against all possible data losses. Plus, you know what items you have and what should be ordered in advance and a result, you can deliver the products any time your customers want them.
- Eliminates the need of program support department: You don’t need to hire an IT department just to support your software.
These days, you may find numerous cloud accounting options on the market depending on your niche, functionality, team, and, of course, budget. Noteworthy is the fact that with dozens of cloud accounting software programs out there (both small business accounting and enterprise-level accounting programs), it is of vital importance to find the one that suits your business needs. For example, if you are planning to grow, your software solution should be scalable and flexible enough.
Types of cloud-based accounting software solutions
By default, there are two types of cloud-based accounting software solutions:
- Ready-made products that can be customized according to your needs
- Custom-made products that are developed especially for you.
That means that if you are looking for a robust cloud accounting software solution, you can get the ready-made cloud accounting software and pay for using it on a subscription basis. Typically, such a cloud service comes with a standard set of features. That won’t cost you an arm and a leg.
However, the best way to go here is to address a custom software application development company to get tailored and configurable products. By the way, the small business accounting software and the enterprise level accounting software can greatly vary in terms of cost, features, and time needed to be developed and implemented. By the way, Artelogic is a reliable custom software development vendor who has an arsenal of cloud-based tools and the right human resources to help you with your accounting software solution. Evidentially, we can develop a program that can satisfy even the most sophisticated business-driven needs.
In a nutshell, cloud accounting systems are revolutionary for small business owners and the owners of huge corporations alike, whether we like it or not. The benefits of cloud accounting are numerous. First of all, cloud accounting software helps business owners always stay connected to their data and their accountants. Moreover, good online business accounting software securely keeps all valuable business data protected from malware, viruses and data loss. Needless to add, it the cloud accounting software is custom-made by Artelogic, it can bring numerous other benefits to your business, be it small, medium or a big one as in that case your ultimate business needs, specularities and challenges will be taken into account.
Anyway, in the span of the next few years any business owners should move to cloud accounting software to stay on top in their business niche. Why not invest into your custom-made cloud-based technology solution today then?