Why Cloud Accounting

WILLIAM B FRANCIS
XERO CERTIFIED ADVISOR

+65 9633 6749

If you want your business to work smarter and faster, cloud accounting software is a wise investment. Working in the cloud will give you a better overview of your finances, and improve collaboration with your team

Accounting software shouldn’t be a chore to use:

Business accounting software that’s not available via the cloud can be tedious. Traditionally, it can suck up far too much of your business’ time and effort. This doesn't add value, and takes the fun out of being in business. Cloud software can save your company time and money.

So what is this thing called the cloud:

Think about when you use internet banking. Every time you access this data, you’re using the cloud. The cloud is a platform to make data and software accessible online anytime, anywhere, from any device. Your hard drive is no longer the central hub

Problem with traditional accounting software:

The data in the system isn’t up to date and neither is the software.
It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
Only one person has user access. Key people can't access financial and customer details.
It's costly and complicated to keep backups (if done at all).
It's expensive, difficult and time consuming to upgrade the software.
Customer support is expensive and slow.

Why the cloud and accounting software are the perfect match

You can use cloud-based software from any device with an internet connection. Online accounting means small business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

In the cloud, there’s no need to install and run applications over a desktop computer. Instead, you pay for the software by monthly subscription

Five ways cloud software benefits your business

You have a clear overview of your current financial position, in real-time.
Multi-user access makes it easy to collaborate online with your team and advisors.
Automatic updates mean you can spend more time doing what you love.
Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.

Work smarter with accessible data in the cloud

The beauty of this software is the flexibility it gives you to run your business from work, home, or on the go. You can be confident that you have an up-to-date picture of how your business is doing, no matter where you are.

Software updates can be developed and delivered faster and more easily in the cloud. This means you don’t need to worry about installing the latest version and you’ll get access to new features instantly. With cloud accounting software, you have the option to run your business remotely, from anywhere in the world. And when data is fluid and accessible, the possibilities are endless.

CLOUD ACCOUNTING - Run Your Business On The Go With XERO

Why Cloud Accounting Is

Good For Business