Cloud computing is entering its second decade in existence. Over the past 10 years, it has cemented itself as the disruptive technology with the potential to affect all areas of modern business, especially when it comes to Software-as-a-Solution (SaaS) tools. With improved security and stricter controls on cloud solutions, businesses are finding fewer reasons not to make the switch to the cloud.

Accounting is a good example of a business operation that carries several benefits when it’s migrated to the cloud. It also involves the least number of hurdles for you to jump over before it’s set up and ready to use. Let’s unpack more reasons why cloud accounting simply makes good business sense.

 

The benefits of cloud computing

  • Cost-effective. Cloud accounting software solutions work on subscription-based models. You get a renewable licence with access to up-to-date features. In contrast, with traditional accounting software, you pay a once-off hefty fee for software that quickly goes out of date, which will lead you to make another purchase.
  • Accessible. Everything in the cloud can be easily accessed from anywhere using an internet connection. You have 24-hour access to all your data no matter where you are or what device you’re using.
  • Easy to use. Cloud applications are typically designed with usability suited for the layperson, not necessarily a highly trained professional. Cloud accounting is the same – a quick tutorial and a few tips along the way are enough to give even the uninitiated enough confidence to manage their business accounting.
  • Secure. Advances in technology have made cloud accounting more secure than ever, surpassing traditional accounting software. Data stored in the cloud is safe from unauthorised eyes and easily recovered during a disaster.
  • Automated. Cloud accounting software uses automated bank feeds to keep regulatory data up to date. It also automatically generates invoices and other critical transactional documents at the touch of a button, freeing up your time for more revenue-generating business processes. 

 

Get the best with Rae & Associates

Rae & Associates has premium cloud accounting software to give your business the advantage it deserves. QuickBooks Online Accounting and Xero Accounting Software are perfect for startups and small businesses that want to keep their accounting secure, efficient, cost-effective and not resource-intensive.

Get in touch with us to learn how accounting software solutions can help you take your business to the next level.