If you're looking for an accounting system for your business,cloud accounting offers numerous advantages over traditional accounting software. Leaders in companies have learned to appreciate the advantages associated with cloud-based accounting and companies of all kinds are now utilizing the cloud to manage financial information.
Here are four key benefits of using cloud accounting:
1. Availability of data
If your company’s financial data is stored in a cloud – versus an in-house server – your data is accessible from literally anywhere with an Internet connection. With a key benefit such as this, businesses can expect their workforces to become more mobile, with employees who can work remotely from anywhere.
2. Reduced cost
If your company opts for a cloud-based accounting system, you will save money because you won’t be paying for an expensive IT infrastructure. Not paying for an expensive IT infrastructure also means not have to pay for employees to manage that infrastructure. Just eliminating IT salaries and benefits packages alone is a significant savings.
3. Professional management of financial data
Cloud-based accounting is managed by cloud services organizations that exist for one reason: to ensure that their clients (you!) have reliable access to their data. And unlike an in-house IT infrastructure that was expensive and would be difficult to overhaul – essentially leaving you ‘stuck’ with it – cloud services organizations have to work hard to keep their clients happy. A great cloud system will save your business from the headache of downtimes that can plague a less professionally managed IT system.
4. Automatic data backup
If you choose a reputable cloud services company, you'll find that data backup is second nature to that organization. You can be sure that no matter what happens, your business data will remain safe and accessible.
If you're in the market for a cloud-based accounting solution, feel free to contact Oates & Company LLC. We will discuss your business needs and find a solution to meet your goals.
