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Small business accounting software that isn’t compatible with a cloud system is essentially
wasting resources, consuming too much time, effort and money in daily operations. Not only does this take the enjoyment out of business, but it reduces the amount of time that an owner can spend doing what they actually intended when they first started their business.
What is the cloud?
The cloud can be likened to your personal internet banking account. Each time you log-on, you are accessing your banking data via the cloud, which allows you to login anytime, anywhere, and from any device with an internet connection.
Problems with non-cloud software
Traditional accounting software poses many problems in the current business landscape, and with technology evolving at a rapid rate, it’s not only outdated but is costly and complicated in comparison.
Software is limited to just one computer and one user
Financial and customer details is restricted to one person
Data backups are complicated and time consuming
Software is outdated in the current business landscape
Remote access is impossible
Benefits of a cloud solution
A cloud-based accounting solution allows businesses to access their data from any device, anytime, anywhere, granted they have a login and an internet connection. This is an advantage for business owners that are on the move, whether through travel, working at home or in the office, or those who just want to keep an eye on their finances whilst they are on leave from work.
It’s cost effective, easy to use, and allows business owners to work on their business instead of battling to handle their finances. Business owners can be concerned about the security of a cloud service provider, but would be surprised at just how secure their data will be.
If your laptop is stolen, no one can access your data unless they have a login to your online account. As the data is stored on the cloud, there’s no way it can be accessed – unlike traditional accounting solutions where the data is stored on your hard drive. In the unexpected event of a natural disaster such as a fire, being in the cloud means that all of your data is protected.
The key benefits of employing a cloud-based accounting solution:
View your current financial position in real-time
Data automatically backs up to the cloud
Collaborate with your team easily with multi-user access
Remotely run your business with access to the cloud in any location with an internet connection
Cost effective and easy to implement into your business
At Verve Group, we offer cloud-based solutions through the Xero accounting software. For more information, visit our Xero web page or give us a call on (08) 8120 4877 or email us at: contact@vervegroup.com.au