These clouds make life clearer

Cloud services, like Google Drive and Dropbox, are changing how companies do business. It’s efficient, reliable and accessible almost anywhere. But what about cloud accounting? Do cloud services offer accountants the same kind of technological changes that can revolutionise their work? Today we look at why people are turning to the sky and how it might soon become a requisite for accounting professionals.

Do the long-term benefits outway the initial investment?

People are still reluctant to embrace cloud accounting services. For the traditionalist, it could seem like a risk, but for modern accountants, it’s fast becoming the safest choice. The software and services allow accountants to work more efficiently by integrating more of the complicated processes into one (partially) automated platform. For small companies, the initial cost of training could be a problem; but could the long term benefits make investment in the service a no-brainer?

Why start cloud accounting?

In a word – efficiency. The technology has been created to aid in the process of entering, sorting and calculating data, saving accountants time, and companies money. Many of the services available use sophisticated algorithms that can automatically alter and adjust calculations and balances when changes are made.

Gone are the days of digitising a huge backlog of paperwork. Cloud-based systems allow direct integration of company bank accounts, offering professionals in the industry a more seamless work experience. Cloud accounting can help individuals and accounting firms do more – sticking to traditional methods could see companies beaten on price, time and quality by their cloud practising competitors.

Check out part 2 of our cloud accounting guide.


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