You can run your entire business from your smartphone’s touchscreen—but the benefits don’t stop when your thoughts turn to managing your finances. Cloud accounting tools are built for your smartphone, tablet, laptop or any device you prefer. But what does it really mean to be ‘in the cloud’ and what are the benefits to you and your business? Here are six ways a cloud accounting solution could change your life for the better.
Get your weekends back
Say goodbye to wasting precious time issuing invoices, paying bills and wading through your paperwork. The smartphone is your most powerful business tool: using mobile cloud-based solutions, you can productively manage your finances as and when you need to. It’s a great way to keep you and your accounts synced—and your work-life and home-life in perfect harmony.
Spread the load and beat the year-end blues
Looming tax return deadlines can mean less time spent focusing on your real work. Using cloud-based services not only allows you to update your financial information with a click of a button, it also lets you work online with your accountant. Keeping your finances updated on a regular basis spreads the tax return administration load over the year, so you stop managing your finances in stressful peaks and troughs.
Keep sensitive data secure
You need to be mobile—out and about meeting customers and keeping projects moving. But that doesn’t mean that your sensitive business data needs to go everywhere with you. Why not securely log on and work from your phone, laptop or tablet while your sensitive data stays safe in the cloud? If you lose a device, the drama stops there. What’s more, you won’t damage customer confidence or be at risk of legal action.
Achieving “anyhow, anywhere” IT might sound like it’s going to be technically complex. Think again, because the right cloud apps are automatically updated. You can even link in customer relationship management systems and reporting tools and run all your key business systems as one. Because it’s cloud-based you don’t need any expensive hardware and all your data stays securely backed up and off-site. Choose a solution that offers intuitive interfaces and round-the-clock support and you’ll be actively making your IT simpler, cheaper and more effective.
From employment and tax laws to constantly changing data protection regulations, trying to keep up with legislation is one headache you could really do without. With a cloud accounting solution, anything that’s a legal requirement is built into your software and updated in real-time as compliance changes happen. You’ll be alerted, guided and protected. And what business doesn’t want that?
Make smarter decisions and drive strategic new directions
Leverage data in real-time to make super quick business decisions and steal an edge on your competitors. See patterns. Spot opportunities and trends. Share data with employees in multiple locations—enabling them to act on information quickly. You become a first-mover, not an also-ran.
So what’s the net result of all of this? You’re running a low-cost, agile, productive, scalable, compliant, smart and customer-focused business. You’re released from worrying about money and free to go out and make it: pursue opportunities, build your business your way, without technical and financial stuff getting in the way.
If you’re ready to get your business up in the cloud then try Sage One Online Accounting free for 35 days.