Cloud-based accounting software can be used from any internet-enabled device. This provides small business owners with easy access to their essential financial and accounting data. What’s more, cloud accounting software is easily integrated with many other apps; it’s completely scalable and so can grow with your business, and it provides various cost benefits and using it is easy.
What is the cloud? Basically, it’s a platform which provides access to data and software online through a computer, laptop, or even mobile device such as phone or tablet. Rather than installing various software programs on your hard drive, all apps are hosted in the cloud and you simply pay a monthly subscription for the particular software apps you require.
Improved security for your financial data
Cloud–based accounting software provides the small business owner with world class security. No need to worry if your laptop or other mobile device is stolen, as your data is stored in the cloud, not on your personal device. So unless a thief has your username and password, they will be unable to access any of your confidential business data. No sensitive information is stored on your own device when you make use of cloud-based apps for your business.
You can also avoid downtime and the need to make constant hardcopy backups, as in the cloud all your business data is securely stored away from your business site, so any calamity such as flooding or fire will not affect the integrity of your data, and in fact, as long as you can connect to the internet, you’ll have full access to all your essential business information as usual.
You can control the level of access authorized for various users, which is an improvement on transferring files as email attachments or sending someone a USB drive containing your data.
How can cloud-based accounting benefit my business?
Here are just a few ways in which your business accounting functions can be improved through the use of cloud-based accounting software.
Real-time overview of all essential financial data – from anywhere.
Easier online collaboration with accountants, advisers, and other business team members.
Automatic updates eliminate the need to manually update software.
No software installation on various devices necessary and automatic security backups included.
Cost reduction, as software maintenance eliminated and all system admin is managed by the service provider.
Working smarter not harder
In today’s dynamic business environment, it pays to be able to work smarter, and be able to access your essential business data from home, the office, or on the road using your laptop, tablet or even mobile phone.
Partnering with the right central London accountants and adopting cloud-based accounting software could take your business finances to the next level – allowing you a superior level of flexibility, control and access to your essential business information.