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Salt Lake City Bookkeeping Blog

4 Reasons Cloud-based Accounting is Taking Over the Small Business World

Posted by Austin Walker on Jun 16, 2016 10:00:00 AM

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Everyone seems to be talking about Cloud Based Accountingworking in the cloud these days, but many small business owners are still unclear as to exactly what the cloud is, and how it can help their business perform better.

Cloud-based platforms are simply online software programs that are accessed over the internet, and that provide a range of advanced applications like professional accounting packages. These programs help to do away with the need for dedicated company servers and the computer-based storage of data, because they allow users to share high-speed servers that exchange and store incredible volumes of information remotely.

When you use your PC, laptop, tablet or smartphone to log into a cloud network, you’re granted secure access to an enormous, virtual infrastructure that lets you coordinate and share information among staff, team members, or outsourced contractors. Not only does the security technology surrounding cloud solutions tend to be the most advanced available, the cloud is easily utilized from wherever you happen to be, and is typically more reliable than the average computer-entrenched software application.

The Competitive Edge

When it comes to gaining and maintaining a competitive edge in the business world, it’s generally agreed that having your head in the clouds can give you a distinct advantage. Many entrepreneurs and outsourced bookkeeping services have chosen to adopt cloud-based accounting software, for example, because it’s ideal for performing multifaceted calculations faster, more conveniently, and with less down-time than the average hardware driven solution.

The number of cloud users is growing steadily every year, and any business looking to improve its efficiency and productivity should seriously consider the benefits offered by round-the-clock access to relevant, real-time company data.

The Advantages of Outsourcing Your Bookkeeping to a Cloud-Based Service Provider

Cloud-based accounting software readily lends itself to more effective, and ultimately more valuable, bookkeeping services. To strengthen your company’s competitive position, or to increase productivity, consider these four reasons why outsourcing your small business bookkeeping to a cloud-based provider can help keep you at the forefront of your industry:

1. Anywhere Accessibility

With only an internet connection and a mobile device, multiple cloud users with the appropriate clearance can get the company accounting data they need, regardless of where they are. Convenient but secured accessibility means that relevant information can be updated and exchanged among specific team members, or between client and outsourced bookkeeper, whenever the need arises. Business owners and their support crew no longer have to be tied to a specific physical location in order to function effectively in their diverse roles.

2. Advanced Security Technology

Despite the fact that cloud computing uses the internet to share and exchange information, it actually exposes your company to fewer risks than the average computer-based software program does. Not only do reputable cloud providers protect your data through the use of passwords and advanced encryption techniques, they also facilitate the dissemination of that data over multiple, highly secured servers. PC-based programs, on the other hand, are vulnerable to data loss through file corruption and system crashes, and your sensitive information is always at risk whenever it’s stored or transferred externally from one source or physical location to another.

3. Business as Usual

The damage to professional credibility that can result from company software glitches and errors is a very real concern for many small business owners. Working in the cloud mitigates the downside of service delays and data loss because a host of qualified cloud providers and software developers are always on hand to oversee and resolve any potential problems with their online programs. Not only does this allow you to seamlessly get on with the business at hand in most cases, it also translates into a significant time and cost savings where program maintenance and repairs are concerned.

4. Real-Time Facts and Figures

The use of cloud-based software allows accounting entries to be progressively updated in real time. This means you’ll always be able to retrieve the most up-to-date information available for your business, whether it’s related to payroll, taxes, or cyclical reports. As most entrepreneurs already know, the ability to access accurate and timely data is one of the most important factors in making better business decisions.

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Topics: Small Business, Cloud-Based Accounting