In fact, considering the recent trends and developments in cloud computing, cloud accounting packages have turned out to be more beneficial for resource restricted small enterprises when compared to larger enterprises. So, what makes cloud accounting software programmes more beneficial to small companies?
Enterprise class functionality
Large companies have one major advantage over small businesses – more financial and non-financial resources. So, these companies can leverage the benefit of resource availability and develop custom accounting packages.
However, developing customised enterprise class functions and software is usually out of budget for most small companies. In such a scenario, small businesses can enjoy enterprise class functionality with cloud accounting software applications that are highly functional and comprehensive. Moreover, as a small business owner, you can enjoy such functionality without shelling out too much money.
Cloud accounting software programmes come with numerous features that are highly essential for any business. These features include preparing and tracking invoices, quotations, purchase orders and other financial documents. Furthermore, you can track the status of the financial documents and mark them as cancelled, paid or due. Managing accounts with such promptness and efficiency helps small businesses put their productive time to good use.
Overcoming manpower limitation
Small businesses are also limited in their manpower since they cannot afford many employees. Cloud accounting software programmes help small business owners overcome this limitation in several ways.
For one, since the software is in the cloud, all employees related to the job can collaborate seamlessly and work with greater efficiency. As the manager or owner, you can oversee all activities and ensure precision of the job.
You also save a lot of time in the whole process and hence, can complete more work within the limited working hours. Such functionality is extremely beneficial for small businesses.
Cost effective pay-as-you-go model
A cloud accounting software programme comes with a unique pricing model. You pay for it as a service rather than as a product. In other words, you pay only as much as you use. So, depending on your requirements, you can use specific features and enjoy the functionality of high level accounting packages without spending a lot of money. On the whole, this model turns out to be very cost effective in the long run.
So, if you still believe that cloud accounting software is for the large businesses, you are mistaken. Small businesses find as much, if not more, functionality with these applications. If you are a small business owner looking to optimise on your available resources and enhance the efficiency of your account management methodology, you must seriously consider using a cloud based accounting package.
Free Accounting Software
Zoostr takes it a stage further. We provide a good basic accounting software for free. Yes, you heard right, for free. There are a number of Premium features that we charge a small fee for when and if you need them. Learn more and sign up for a free account here