Tired of Outdated Systems and Software Bottlenecks? Try Web Accounting Software

Once your business is ready to implement business management software, a key decision is whether to set up an in-house network or to use offsite software providers via the cloud. While it may make sound business sense for larger enterprises to establish in-house servers and software programs, if you are a small to mid-sized business you will want to weigh the benefits of web accounting software before committing to such an undertaking. Finance and accounting software is among the first system applications most growing businesses deploy. A comparison between traditional accounting software and web accounting software can highlight some of the chief differences between traditional and web accounting software.

Costs of Doing Business the Old Way

With the old in-house model, businesses had to purchase or upgrade computers in the home office and at the various branch locations. Hardware and program software was purchased, and vendors then sent trainers for staff to help them learn to navigate the new system, costing productivity. These initial investments required oversight by one or more IT specialists. Maintenance and system upgrades were necessary and meant downtime and added expense. This process could be repeated with the addition of each new program application as your business developed. In short, to implement something as basic as business accounting software required significant up front and ongoing expense for your company, whereas web accounting software can do away with much of those costs.

Reduce Costs With Web Accounting Software

In contrast, web accounting software reduces your cost in several ways. First, you eliminate the up front costs associated with purchasing necessary hardware because the provider hosts the servers. All costs associated with maintaining the system are no longer yours, but are assumed by the provider. Secondly, you likely no longer need to hire your own IT employees since the web host employs its own staff of certified IT professionals. With in-house software, upgrades could mean more downtime; but with web accounting software, you are able to add the new applications quickly and easily. All information is stored on the hosts’ servers and can be accessed by simply logging on and using the company’s access code. Your business saves money in terms of up front purchasing, reduced staff, eliminated upgrade, maintenance and license renewal expenses, and lost productivity by opting for web accounting software.

Further Benefits of Web Accounting Software

With traditional finance and accounting software, being site specific has other limitations. Depending upon your particular business, this could impact you in several ways. The old way of accounting meant that information needed to come into the home or branch office in order to be entered and/or disseminated. With web accounting software, sales representatives can enter sales related information from any location with internet service and from any internet capable device. Plant and project managers can create invoices and purchase orders from the project site. You are able to access real-time information containing all key performance indicators (KPIs) from any location with internet as well. Web accounting software means employees can work from any location, and you, the owner can access data with the same freedom.

While convenience and cost would be two great reasons to use web accounting software or any other business management software via the web, security trumps them both. The thinking of the past has been that operating via the cloud meant taking a risk in terms of security. However, it is increasingly the case that businesses realize the security scale may tip in favor of offsite providers. With double and triple information storage and nightly data backups, the security web accounting software provides to small and medium sized businesses rivals that which much larger companies garner at significantly more expense.