In today’s time, you may have become habitual of hearing the word “cloud” and would be curious to know if it’s safe for your business. Well, cloud is one of the few things that give your business functions a unified platform for multiple solutions, safely stores data, and lets you access your operations anytime from anywhere in the world. Most of the accounting firms and accountants have already switched to cloud compliance solutions as they have started understanding the benefits these solutions provide – flexibility, better collaboration with clients, and top-notch data security.

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Cloud accounting software has also enabled corporations to continue operations seamlessly throughout an unprecedented crisis that might have simply brought business processes and productivity to a halt.

Cloud data centers will process 94% of workloads in 2021. (Source: Cisco)

Now most of the accounting firms and businesses believe that cloud is the way forward. It’s not only shifting your operations to the online but also reinventing the way you work and getting engaged with your clients

What is cloud?

You probably have no idea but you’re already using cloud technology every day. In your daily routine, you share files using Dropbox, Google docs, and ShareFile, or maybe sometimes you use online office software like Google Apps or Microsoft Office 365.

In simple words, any system that lets you access your data remotely with just an internet connection is a kind of cloud system.

Most of the data breaches and cyber attacks are caused by human error, so cloud is way more secure. 

Reasons why small businesses and accounting professionals cloud

Small businesses and accounting professionals have to perform multiple tasks from data analysis to auditing. Some of the business operations tasks are not only daunting but also time-consuming to perform. These tasks create a lot of hurdles such as:

  • Loss of working hours while traveling
  • Manual entries
  • Heavy expenses of IT infrastructure
  • Cyber threats or cyber attacks
  • Data loss
  • Maintenance time or efforts

78 percent of small businesses will rely solely on cloud technology, as per the ‘Accountancy Age’ by 2020, so whats stopping you?

Cloud is one of the most beneficial and crucial technology for all sorts of small businesses and giant industries. Here are some of the major benefits of using cloud technology.

Anywhere Anytime Access

Running a small business or being an accountant, you can only work when you’re at your workplace as a result of all of your accounting applications and data will be accessed from the local system solely. It gets difficult to figure out the operational tasks once you aren’t within the workplace. This hampers your work productivity, and you end up losing your customers.

But with cloud technology, you can access all your accounting tasks from anywhere out of the world. Even you don’t have to download any software, you just need the internet connection and you are ready to go. Cloud ads flexibility to your life and your office would be there where you are.

No one needs to take a seat behind a table all day particularly for the accountants, the tasks will become a bit monotonous, and following the mounted workplace timings will build their lives boring.

Don’t you yearn for a versatile workspace wherever you’ll be able to offer longer to your family and health? But, the accounting computer code and information put in on your local PCs will solely be accessed by creating long journeys to the workplace only.

Whereas cloud computing helps you to access your data from anywhere, anytime.

Multi-user Collaboration

Working in a team means that sharing documents together with your colleagues and dealing with that together. As a small business owner, you would possibly get to share documents with your colleagues or alternative teammates.

Cloud makes communication and collaboration simple for users. You get a standard virtual platform for all of your work, and you’ll simply share documents with your colleagues and work on them at an equivalent time.

Scalability 

Cloud computing is extremely flexible in terms of the number of devices, users, or storage. Changes are easy to make with these specifications as per your requirements and you can easily scale your business up or down.

Data Security

Cyber attacks are a big threat these days; therefore security has become one of the biggest concerns for everyone. Moreover, data loss also occurred due to, human negligence, hardware failures, or accidents like fire.

By adopting cloud hosting, your entire business operation and accounting process are hosted in remote cloud servers, which means that any damage to the local system does not cause data loss and can be accessed again.

Introducing more effective and productive processes would be count as a win-win situation for your practice so keep an open mind.

Cloud technology is useful for small businesses and accountants and facilitates them to make their work easier while saving substantial operational prices. It results in a higher collaboration between colleagues performing from completely different locations, facilitating enhanced cooperation. Apart from the work-related benefits, cloud computing also makes personal life better by striking a great balance between work and life.

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Qualification: Post Graduate
Company: The Market Hut
Location: Gurugram, Haryana, IN
Member Since: 17 Jan 2019 | Total Posts: 9
CEO and Co-founder of HostBooks Limited. Empowering teams for entrepreneurial ventures and enhancing customer interactions with a professional experience of over 29 years. View Full Profile

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One Comment

  1. Subramanian says:

    One needs to have software linked to cloud and pay extra. Just confused repeated saying cloud, cloud etc. A small factory has a software for its accounting function in its computer system. Why one needs cloud and what it exact does? Let us tally. Is it important to operate through cloud and pay extra money. Or it just stores my data. The writer has not explained why I need it.

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