In the digital era, it is vital that accountancy firms modernise, in order to keep up with increasing consumer demands. Investing in cloud accounting solutions is an effective way to increase your efficiency and streamline your operations.
What exactly is cloud accounting?
When you use cloud accounting solutions, you store and access your business books online via the Cloud. This means that all records of income, expenses, assets and liabilities are encrypted and stored in the Cloud. This enhances the flexibility of your business, as application functions are no longer performed on the user’s desktop, but can be accessed remotely from anywhere with an internet connection. Most cloud accounting software also comes with useful tools that aid quoting, invoicing and managing bills.
What are the benefits for your business?
Cloud accounting frees your team from your office or even your desks. You can access key information, accounts, and numbers anywhere, at any time. As remote and hybrid work becomes the norm, cloud accounting software ensures that your entire team will remain productive and up to date, no matter where they are based.
Real time information updates
Cloud accounting software provides you with access to the most up to date and relevant information at the click of a button. An instant, real-time overview of your client's financial situation is right at your fingertips. This helps you to make the most informed and effective decisions about budgeting and spending. Your clients will never have to worry that your reports and data are out of date.
Access to the app ecosystem
Is your accountancy firm slowed down by repetitive tasks and unnecessary administration? With the right cloud accountancy software, you can expand your core business system with a range of third-party applications. Whether you need additional resources for cash forecasting, project management, online invoicing, or something entirely different, there is an app to help you.
Always working with the most up to date software
When you access your accounting platform via the Cloud, you can feel confident that you are always working with the latest version of the software. This is a huge time saver; there is no need to worry about inefficient updates or delays. This helps improve your customer relationships; you can start working on their finances as soon as you log in, keeping them satisfied. Everything is handled for you, ensuring a seamless, productive working experience.
Secure data sharing
With cloud accounting software, cyber security threats are minimised. Not only will your software provider apply security fixes for you, but you can access your clients’ accounts securely. In the accountancy sector, data protection is vital as you handle extremely confidential, valuable information. Cloud applications encrypt your data before it is transferred, preventing it from being stolen or read by third parties. With the right software, both your data and customer reputation are effectively protected.
Are you ready to implement cloud accounting in your business? Speak to one of the experts at T-Tech today to get your transition started. We specialise in providing bespoke IT support for the accountancy sector so we can make your migration as seamless as possible.