Benefits Of Moving Clients To Cloud

Cloud computing has brought about a revolution in our lives. From using social media to paying bills through online banking, we are always on the move. The domain of accounting has also been affected and statistics point to a massive change in the domain of accounting in the form of cloud accounting. This term implies the usage of cloud computing for managing the accounts instead of desktop accounting. Apart from providing the benefit of mobility, it provides a lot of additional benefits which only cloud-based computing can offer. An accounting practice can benefit immensely by moving from desktop-based accounting to cloud. Below are some of the core benefits of moving clients to cloud based accounting.

Flexibility of Work

Cloud accounting allows you to access your accounting application as well as data anytime, anywhere and with any device connected to internet such as desktops, laptops, smartphones and tablets. Your data is available 24×7 and all-round the year which was never possible in the era of desktop computing.

Realtime Information

Since multiple users can work at the same time, the data on a cloud-based system is always updated and provides real-time insight. It provides a clear and real-time overview of the financial position of the client allowing accountants and management to take informed decisions.

Low Costs

With cloud accounting, there is no need to spend much on IT infrastructure or hire expert IT staff to manage servers. Neither IT staff has to install or update accounting software on your machines. Just by a single subscription, all your work is being done at a fraction of the cost. It frees up the IT team to do other tasks. Apart from that, it reduces unnecessary expenses on server maintenance, energy consumption, expert staff and other associated costs.

Boost Productivity

Since accounting data is ever increasing, it leads to desktop accounting systems becoming slow and unresponsive over a period of time. On the other hand, in the case of cloud computing, all the data is saved in cloud and due to sheer availability of resources, the system is always responsive and it provides a boost in the overall productivity of the accounting staff. As per a research carried out by Harvard Business Review Analytic Services, it has been reported that “74% of businesses feel like cloud computing has given them a competitive edge”.

No Storage Limit

Over the passage of time, with the steady growth of business, demand for storage space increases. Due to this, accounting firms have to keep on updating the hardware. Cloud computing allows the firms to expand or scale down their storage space with a click of a button at much low cost.

Scalability

Cloud accounting allows clients to easily scale up or down depending on the requirements. They can add or remove users or upgrade their computing power on a click of a button. Their pay as you use model is a win-win situation for the clients.

Increased Efficiency – Collaboration

Cloud accounting allows multiple users to work together. Domain experts can handle tasks related to their domain and this leads to increase in overall efficiency.

Automatic Updates

With cloud accounting, enhancements to the system are implemented in the back without disrupting the work of the users. This allows the users to always work on updated system. This is very critical as new taxes can be added or tax values can be changed with minimal effort at the client’s end.

Ease of Use

Cloud accounting systems are redefined the way people used accounting software. It is being said that they allow users to update their accounts as easily as they can update their Facebook status due to simplification of these accounting systems.

Reduces Paperwork

Since everything is available online, there is no need to keep hard copies of the documents and other data. This can lead to fulfilment of a desire to have a paperless office as invoices can be sent through emails which further saves the cost of printing and postage. Incoming invoices, bills or receipts can be uploaded directly or scanned and saved within the software without any need for physical document which further saves the cost of maintaining files and storage costs.

Better Control

In cloud accounting, all the data is stored centrally and access controls can be put in place to classify the data. This leads to a better overall control over the sharing of the data.

Automatic Backups

Cloud accounting systems automatically generate and store backups in different geo-locations which helps in availability of systems even in the times of a disaster such as an earthquake or a cyber-attack. You can easily restore the system using these backups with a minimal downtime.

Platform/Device Independent

Cloud accounting systems can run on any machine which is connected to internet irrespective of its platform or size. Users can access these systems from any device which has a web-browser and may be running on Windows, Mac, Android, IOS or Linux. These systems are responsive or mobile friendly and adapt to the screen-size of the device which is being used.

High Security

All cloud accounting systems are highly secure as they use military grade encryption. Since the data is spanned over multiple data-centers and geo-locations, it diminishes the possibility of data loss due to any computer or system failure.

Build Stronger Client Relationships

Cloud accounting allows easy flow of data between accountants and their clients. Multiple users can collaborate and work together anytime which helps in building a better bond.

info@米6米乐体育 Info Solutions is one of the early adopters of cloud computing. Apart from using all cloud-based accounting systems such as SAGE, IRIS, QuickBooks etc., they have hosted their in-house job-portal on the cloud which has brought about a great boost in the overall productivity and customer satisfaction.

Why should you use an outsourced bookkeeping service for your business?

Are you wondering why is there a need to shift to outsourced bookkeeping service for your business?  8 out of 10 companies fail due to poor management of their accounts. Many business owners hem and haw about the need to have an outsourced bookkeeper rather than hiring an in-house staff to handle their accounts.

Let us discuss the valid reasons and benefits of choosing an accounting outsourcing company in the UK.

Added expertise

Accounting outsourcing will offer you comprehensive benefits without spending for a full-time salaried person. Handling over your books to an expert team of professional accountants can bring in a lot of functional changes and growth in your business. Outsourced bookkeeping service will make things easier for you by keeping a check on the cash flows and categorize all transactions into various categories. It further helps in analyzing the financial status of the business and its performance in a better way. An expert will not miss even a single transaction, and they will make sure all tasks are done on time. For example, all payrolls are paid regularly.

Saves time and overhead expenses

While you run a business, taking care of books yourself is not an efficient usage of time. Sitting back and entering invoice details and making entries will kill your core time. Bookkeeping and accounting itself is a full-fledged job. Managing your tasks on your own is a good thing, but it should not be at the cost of your primary work schedule. Even accounting is never a CFO, or non- accounting staff’s job.  Managing accounts is not everyone’s cup of tea, and your business was not meant to spend time handling your books. Also, unravelling mistakes can be time-consuming and pain in the head when you have your regular work lined up for you.

In such a scenario, it is always wise to have an expert outsourced accountant and bookkeeper who can manage your accounts well without errors, and all of this come under the outsourced bookkeeping services.

Save Money

No wonder opting for an outsourced accountant will cost you money, but when an expert outsourced accountant takes care of your books, you will save much more money and see visible growth in your business.  Also note using outsourced accounting services is cheaper than having an in-house salaried bookkeeper. With outsourcing, one only has to pay for the services they use whereas you pay more to a full time professional for the same number of tasks.

Fewer chances of fraud

Fraud is one problem that is prevalent in every business, whether small or large. The company owners have to set aside their resources for preventing fraud and handling the errors. Fraud is inevitable but with outsourced accountants, it can be reduced to much extent.  In outsourcing accounting services, the duties are separately managed by the professionals, which help in preventing fraud and misconduct in an organization. With a team of professionals taking care of a single firm makes sure there is no discrepancy in reports and managing transactions.

Outsourced bookkeeping service -“Books Are Being Taken Care Of”

This is the only thought that brings you comfort at the end of the day. This is one of the main reasons as to why leading accounting firms from the UK are outsourcing their accounting and bookkeeping jobs to companies like  info@米6米乐体育 Info Solutions . If you have any query or are looking for an accounts outsourcing partner in the UK, you can get in touch with us at  info@米6米乐体育 . We, at  info@米6米乐体育 Info Solutions , understand that as accounts professionals, you have a lot of responsibility towards your clients. But stay assured when we say that outsourcing your client’s accounts and bookkeeping jobs to us would be the best decision you will take for your as well as your client’s business.