5 reasons you should be migrating to Cloud Accounting
Cloud Technology is omnipresent now and its expansion is as wide as the sky (excuse the pun). Businesses across the world have migrated their systems to the cloud in an effort to become a part of the information super network that cloud offers. With cloud it’s no longer necessary for you to maintain a physical server where you store all your data and run all your enterprise software – all that data can be saved on cloud servers in remote locations and accessed virtually instantly from anywhere you are, absolutely hassle-free. That is the magic of the cloud.
The Cloud is transforming the business landscape, constantly impacting businesses across the world, regardless of industry or market size. The Accounting practise is no different, with several organizations across the world already looking at multi-tenant, cloud-based accounting software to do their bookkeeping. These Accounting software offer a plethora of features that allow businesses to grow their accounting practices into agile, scalable processes that positively impact the business bottom-line. The actual advantages are limitless – here are 5 that I’m sure would grab your attention.
- Quick and easy
Cloud Accounting technology like Cougar Mountain Software allows you to get started with your bookkeeping as soon as you want, hassle-free. With everything already set up and cloud-based, it’s just plug and play. Just register, input a few details, log in and start bookkeeping. Also, with features like multi-tenancy, it becomes easy for all members of your team to log on and start book keeping. With such ease of use, you don’t have to focus on the nuances anymore and can focus on improving the process more.
- Better security
Security breaches and data losses is one of the biggest nightmares for businesses across the world. The idea of all your data sitting in one place, with ease of unauthorized access can make anyone’s skin crawl. Such a data breach can put a business at serious risk, with any major breach pushing the organization behind a few years, sometimes to an irrecoverable state. Very few state-of-the-art business tools such as Cougar Mountain Software offer advanced security features, putting business leaders at ease.
Software like Cougar mountain have state-of-the-art security features such as access control, user authentication, strong data encryption, and network protection, securing user data. Since the servers are stored in secure remote locations, the chances of a security breach are much lesser.
- No extraneous charges
Since Cloud Accounting tools are generally offered as software-as-a-service on a subscription model, there are no installation, maintenance and upgradation costs. With a subscription model, all you have to pay for is the subscription fees, billed to your convenience, and not a cent more. But with an on premise software, installed locally, you might have to shell out cash from time to time to maintain software relevancy and to ensure system integrity.
Using a cloud-based software ensures you’re not having to pay for the maintenance of said software, beyond the original purchase. Since all maintenance is handles by the service provider, all you have to indent as a cost would be the subscription fees. Pay the subscription fees, and you are pretty much set for life.
- Paperless ecosystem
With everything being digital, a paper trail is completely eliminated. You save on unnecessary costs of stocking paper, copying machines and other paraphernalia associated with paper. With no physical storage required, any costs associated with paper is completely eliminated.
Even though businesses might still need to maintain some sort of a paper trail until other systems in the organization catch up, Cloud accounting will definitely help reduce the carbon footprint.
- Remote access
A cloud-based Accounting software like Cougar Mountain Software offers you accessibility and convenience like no other. With cloud-based software, it becomes easy to access on virtually any device be it a phone, PC or laptop. Where you are is also immaterial, as you’d be able to access the cloud from home, from the metro or from on a vacation. You can be always on the move and still be able to access your data or your books. Multi-tenancy also allows for multiple teams from multiple locations to be able to access the data, and work together seamlessly.
Is it the right time to migrate?
As is inherently so with all IT solutions, cloud solutions also have some level of risk associated with them, but in greatly negligible levels. Business owners would contest that the risks associated with cloud as opposed to its alternative is much lesser. Infrastructure failures or natural calamities will not affect data in any way, and business continuity is unaffected.
But most importantly, Cloud accounting allows your business to become more agile and scalable with efficient and secure system, which significantly levels the playing field for you and your team.