Five benefits of cloud accounting software
Is your accounting system outdated and troublesome? Discover the benefits of cloud accounting software and the difference it could make to your business.
Is your company using an outdated accounting system because of budget reasons? Or perhaps you haven’t been convinced to move to the cloud? Let’s take a look at the main benefits of cloud accounting software, and the difference it could make to your business.
1. Save time
Think of all the repetitive tasks that your finance department carries out every month, such as producing reports, generating invoices and converting currencies. Now think about all the time that you could save by automating them. Your reports would be produced effortlessly each month, free from human error and your staff can spend their time on other strategic tasks.
2. Save money
With cloud software, you don’t need a big initial investment as there are no installation costs. Once the software is in place, the system is upgraded automatically with no additional cost.
Similarly, servers and licences aren’t necessary and with AccountsIQ’s phone support you won’t need in-house IT support, saving on staffing costs and floor space. With cloud software you can also choose to work from home or while you are on the move, increasing productivity and reducing costs.
Additionally, saving time with automated processes means you will also save money.
3. Stay up-to-date
Security is a big concern for every company and cloud accounting software includes specialist security protection, firewalls and encrypted data transmission. The automatic software updates will keep your software updated with the latest security measures.
4. Collaborate with colleagues
Cloud-based software allows multiple users to work simultaneously on the same files and projects. For enhanced security, it is possible to grant different permissions to various members of the team.
5. Get better business insights
Cloud software is flexible and is designed to integrate with other cloud-based functions, streamlining your workload and providing you with instant up-to-date reports on every aspect of your business to help you to move into the future.