The four reasons why you can’t live without cloud accounting in your business

cloud accounting

The four reasons why you can’t live without cloud accounting in your business

THE CLOUD…….. Okay, so we have all heard the term, but how many of us ACTUALLY understand it……

The cloud refers to software and services that run on the internet instead of locally on your computer. … It’s what allows you to make edits to a file in Google Docs on your home computer and then pick up where you left off when you get to the office. Colleagues can even collaborate on the same document.

So now we understand that cloud software is just any program that you can use over the internet; let’s discuss the advantages of a cloud accounting system.

1. Cut IT costs: 

Moving to cloud computing may reduce the cost of managing and maintaining your IT systems.

Whilst a cloud-based program does not require any initial hardware outlay, there are ongoing fees associated with it, as well as the costs that come from requiring a robust and reliable internet connection to maintain access. 

This outlay, however, far outweighs the costs of having on-site programs. With an on-premise accounting setup, there is a large initial outlay to purchase the hardware and get it set up and then the costs to run or engage the IT department.

2. Flexibility of work practices: 

Cloud accounting gives you access to your accounting software from any location where you can access the internet, eliminating the need to work from one central location.

With all the current lockdowns of the last 18 months, this is a big drawcard, as your staff can continue their work from their homes if need be.

3. System monitoring: 

In a cloud environment, system monitoring is performed 24/7, 365 days a year. Cloud system monitoring is a method of reviewing, observing, and managing the operational workflow in a cloud-based IT infrastructure. Manual or automated management techniques confirm the availability and performance of websites, servers, applications, and other cloud infrastructure. This continuous evaluation of resource levels, server response times, and speed predict possible vulnerability to future issues before they arise.

4. System Performance:

All companies share a common infrastructure for maximum performance, functionality, and access to automatic updates. When you log in to your accounting platform in the cloud, you’re always using the latest software version. There’s no need for time-consuming and costly updates – you just sign in and start working. Plus, you don’t have to be responsible for applying security fixes – your software provider will handle that for you automatically.

If you feel that your company can benefit from a cloud solution, give one of our industry experts a call at thrive on 1300 868 474.

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