Cloud computing and the increasing mobility of the masses are transforming the business software landscape. The market has evolved at a rapid pace bringing new levels of efficiency to enterprises. Cloud software offers accessibility to accounting data and applications through a browser making business productive and efficient.
Many factors are behind the rise in the cloud as a deployment option for accounting software. Maturing technology is one. The idea of hosted applications is not new. However, it is only now that faster, cheaper, and better bandwidth is available. Bandwidth reliability offers stable, affordable, and responsive user experiences through the fixed-line internet as well as through WiFi and cellular connections.
Today’s web browsers are suitable for working with complex applications, accessing rich content, and it offers an enjoyable event free experience for the user. Smartphones and tablet have played a role in cloud adoption by providing individuals simple and convenient ways to access cloud services. As a digitally native generation joins the workforce, the expectation is that business IT resources will operate as smoothly as services they use at home. The digitally native generation expects business software is mobile, easy to use and wrapped in an attractive interface.
The reasons to consider financial management support through cloud accounting software is the prospect of a simplified IT environment, money savings, and flexibility to get more done faster. Cost savings are beneficial. However, the cloud-based solutions offer more, including business agility from access to superior and affordable systems.
The truth is cloud-based accounting software delivers. Many companies have weighed in on the subject and their reasons to use a cloud-based system are:
Better performance, fewer hassles:
IT maintenance responsibilities shift to the service provider. Upgrades happen in real-time, worry free. Management can stay focused on their core business when using reliable feature rich cloud systems.
Pay as you go models seem heaven-sent for the budget-conscious small and medium business. Cloud systems offer the ability to increase or decrease features as needed.
Improvement in security:
Established software providers invest heavily in securing their applications. They have infrastructures that small to medium-sized businesses can never hope to have. There is less risk of losing data stored in the cloud compared to losing data stored on a PC or a USB device through theft or corruption.
Mobile collaboration and productivity:
The ability to access the system from anywhere is the ultimate in work productivity. Instantaneous updates, viewed by colleagues, are then shared with clients immediately. Mobile apps for accounting solutions put customer information in hand anytime, anywhere, and provide best practices in customer service with the ability to quickly meet customer needs.
Ease of analysis:
Business leaders want to know how their company is doing and how they can make improvements. Cloud solutions offer complex functionality at an affordable price.
Keeping pace in an ever-changing environment puts business owners under enormous pressure. Taking advantage of the latest technology is a no-brainer. Technology revolutionised how business in done and cloud services are changing it again. Cloud-based financial management accounting system achieves a 75% to 500% annual return on investment. A bold statement, but true.
The reasons are simple:
- Automated billing and revenue management reduce costly errors and require fewer employees
- Simplified compliance with regulations and laws can reduce audit costs.
- Automated processes streamline closing the books.
- Error elimination, error elimination, need we say more?
- Better decision-making with improved financial reporting.
- Increased customer retention through satisfaction and through professional attention.
An AICPA approved cloud financial management company; Intacct cloud computing software is the preferred financial application for more than 6,000 organizations from startups to public enterprises. Intacct has designed a system to improve company performance and make finance more productive.
CompuData is an award-winning business technology solution provider helping businesses to improve their process and their profits.
Contact CompuData to see how we can change the way you do business.