What are the Benefits of Cloud Accounting?

A move to the cloud to manage your financial data is loaded with benefits. Choosing a cloud computing vendor to host your accounting application remotely takes all the responsibility and most of the expense off your books while increasing your financial visibility and reporting with the ease of a browser. Consider just a few of the benefits of cloud accounting.

Benefits of Cloud Accounting: Streamline Business Processes

The advantages of cloud accounting begin with the elimination of time-consuming processes such as automation of billing and collections management efforts. Revenue recognition rules may be automatically managed, giving you peace of mind. The best cloud accounting programs can improve your business performance by providing you with current, accurate financial data on which you base your business decisions. With real-time reports and dashboards you have immediate insights into your complete financial picture. One of the leading benefits of cloud computing is the company-wide, secure financial visibility it provides.

Benefits of Cloud Accounting: Lower Cost of Ownership

Another one of the benefits of cloud accounting is its cost effectiveness irrespective of the size of your business. Cloud based accounting controls your expenses by providing you software as a service on a subscription basis. Since cloud accounting is scalable, your business only pays for what it actually needs. Cloud accounting allows you to avoid costly up-front purchases of hardware and/or software. Because you are paying for service and not for tangible assets, you also have no operating expenses and no programming charges. You receive all the performance with none of the system administration costs or headaches for a simple subscription fee.

Benefits of Cloud Accounting: Accessibility

When considering the benefits of cloud accounting, it is hard to overstate the premium placed on improved accessibility. No longer is anyone in the company tied to a desktop, and you won’t need to schedule installation or even perform a download. Because all of the accounting information is stored in the cloud, it can be accessed at any time or any location where a browser is available. This is convenient for your and your company, but it provides the further advantage of enabling you to be more responsive to customer concerns.

Benefits of Cloud Accounting: Easy Deployment/Upgrades

Cloud based accounting software gives you access to the very latest software while eliminating your need to endure long installation and deployment curves. As soon as new features become available they are seamlessly made available to you. Should you ever need to make changes in order to share information or interact with those outside of your environment, it is quickly and easily done.

Benefits of Cloud Accounting: Lower Capital Expense

Lowering capital expenditures is another of the many benefits of cloud accounting. You save money on software and licensing expenses and the service provider pays for hardware, support, and backups. In fact, working in the cloud means you can probably reduce your IT staff at the same time you enjoy the benefits of enhanced data security.

Explore the Benefits of Cloud Accounting with these Vendors

Intacct Cloud Computing boasts fast, secure and reliable (99.8 percent server availability) accounting software service. The vendor supports multiple currencies, keeps you compliant and integrates easily with other best of breed applications.

FinancialForce.com focuses on helping you to work faster and keeps you on the go by leveraging mobile device capabilities. Robust reporting tools work from seamlessly captured and stored financial data and the service enables real-time collaboration through Chatter.

NetSuite offers you all the benefits of cloud accounting and the confidence that comes from a service whose security is strong. It also integrates easily with CRM, ERP and eCommerce applications.

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