How Cloud-Based Accounting Software Can Improve Your Business

As a business owner or manager you often need to make critical decisions based on the financial data stored in your accounting system. To make smart decisions you need that data to be as accurate and up-to-date as possible and also as accessible as is practical. Unfortunately, older dedicated accounting systems can often make accessing the data you need difficult. Here’s a few reasons why smart companies are dumping their old dedicated accounting software and moving to cloud-based software for their accounts.

  • The Software And Data Can Be Accessed From Anywhere

Using cloud-based accounting software lets you use the computer software and data from a variety of devices rather than just the one it is installed on. This can save a significant amount of time and can save you from making bad decisions based on old data that is no longer relevant.

  • Automatic Data Backups

Since the data is already in the cloud it can easy be backed up to multiple locations for safety and security. You don’t need to worry about doing this manually as the cloud software service will do this automatically for you. Data backups can also be tailored to your needs with more critical data being backed up more regularly to more storage locations.

  • Access To Dynamic External Data

Any external data you need to make informed financial decisions can be dynamically integrated with your own data to provide you with real-time comparisons and warnings. This lets you take advantage of emerging opportunities and to recognize and deal with issues as quickly as possible.

  • Easy Sharing of Data With Your Accountant

You can easily share data with your accountant to get fast and convenient advice and feedback from them. If you or they have any questions they can be answered quickly and with better access to the data, meaning that your accountant will end up costing you less and will be able to do a more effective job. This can also save you from legal issues resulting from financial decisions based on bad advice as a result of your accountant not having the full picture.

  • Software Upgrades Are Installed Automatically With No Downtime Required

You don’t need to go through the tedious process of manually updating the computer software. Patches and upgrades can be streamed to all the cloud servers hosting the accounting computer software as soon as they are available with no downtime required. This can save you a great deal of time waiting for updates to be installed and can also prevent loss of data from a faulty install.

  • Better Support For Software Issues

Because the software is installed onto cloud servers rather than a huge number of customer machines any bug fixes and upgrades can be applied to all the machines at once. This means that accounting service customers aren’t left dealing with an unpatched machine for an extended period and also probably won’t need to contact software support as the problem will usually be fixed before they become aware of it.

This is also convenient for the accounting software service provider as it allows them to focus on fixing issues rather than dealing with redundant support queries notifying them of a problem they are probably already aware of. Because the computer software is installed onto standardized machines rather than an assortment of different hardware there are also far fewer edge-case issues caused by hardware incompatibilities, so the software is less likely to need support to begin with.

  • Cheaper Than Dedicated Software

The subscription based service is often cheaper than an up-front fee for a dedicated accounting software license and updates. This is because the costs of development and support are lower, which allows the service provider to charge less for the service. The costs are also spread over a larger period of time rather than being paid in a lump sum when the computer software and any upgrades are purchased.

Cloud-based accounting software provides you with a smoother experience compared to older software installed on a local machine. It also makes your data much more secure and ensures that you have far better access to it. If you think the cloud-based server approach to software is something that would benefit your business then give it a try and see if it makes your company run more smoothly. Recently we’ve seen an uptick for accounting software in use for Professional Roofing