Cloud accounting software is similar to traditional desktop personal computer/laptop software, but the software is hosted on remote servers through the Internet or other network via a cloud application service provider. The data input onto the cloud software is processed in “the cloud” and returned to the user.
The packages available to the end user are usually subscription based (paid monthly) and can be based upon useage.
The benefits of cloud accounting can be :-
- More flexible and accessible
- Provide financial reports in real-time
- Reduce capital expenditure costs on servers and licences, as business grows
- Reduces backup and update costs (usually built into the subscription)
With a bounty of technology at our fingertips there is an opportunity for businesses to be able to assess, design and implement solutions for their organisation.
The software industry’s marketing techniques are effective because there’s a tremendous thirst for technology amongst business owners, but also an abiding confusion over how to implement them effectively.
With the cloud transformation comes the expectation and frustration of having to figure out how to make these tools work for you. The problem we face in cloud environment is that a lot of these apps are becoming niche.
As AccountingWEB’s editor John Stokdyk pointed out in an article, accountants’ “professional training taught them not to approach complex situations without a full understanding of the situation and a command of the skills needed to address them”.
We can assist in understanding how to curate it and consult with small and medium size businesses on how to use cloud accounting software most effectively. We are not limited to cloud accounting software and can assist on project managing a technological solution for your business.All news