These days software hosted in the cloud (called software as a service or SaaS for short) gives many benefits. So, if are you still using the conventional types of accounting software then the next few paragraphs shuld convince you to switch to a cloud based software or SaaS.
Cloud Accounting Software Benefits
1. Usage not restricted to one computer
When you use cloud accounting software, you can access the applications from any computer or mobile device such as a smartphone or tablet. This enhances accessibility to applications, no matter where you are in the world. Also, since accounting is almost always a team activity, all team members can have access to the application over the cloud and can use it simultaneously.
You do not have to install the application on all computers and get a license to enable multiple administrators. As a result, there is better coordination among the team and the precision of your accounting task is impeccable.
2. Work more efficiently
If you can use cloud accounting software on a mobile smartphone or tablet then you can use “dead time”, for example travel time, to get admin tasks out of the way. With Zoostr for example you can write a price quotation on the way back from a meeting, or use travel time to check who owes you money and then call that person straight from your phone from inside the software.
3. Pay as you go
Most cloud accounting software’s these days use a monthly pay-as-you-use concept. Since you do not buy the software or application outright, and might use only a few features, you do not have to pay for the entire application. You pay only for the features you use and only for as long as you use it.
Zoostr for example gives its features for free. In the future there will be premium features that you can choose to pay for on a one-time, monthly or yearly basis depending on your needs.
4. Higher security
When it comes to accounting, almost every piece of data has to be kept confidential. In this regard, cloud computing is a great choice. Although people are always initially worried about putting their data in the cloud, the security offered by cloud computing is excellent because your information is not stored in one system. The network used in cloud computing is secured by the security measures implemented by all the computers involved in the network. So, the security is much more robust than keeping the data on your PC in an office where it could be stolen.
Additionally, when you work as a team, you usually have to share information about the work you personally handle. This transfer of information can be risky because emails that you send can be intercepted. In cloud computing, the task of transferring information is eliminated since all team members have access to the database. As a result, security is higher.
5. Save money on hardware
Accounting involves a lot of paperwork. It generates tonnes of data in the form of multiple invoices, balance sheets and many other kinds of documents. So, with time, as the data increases, you need to invest in more hardware such as storage devices in order to make space for more data. When you choose cloud computing, you can store the data on the cloud and stop being dependent on hardware for data storage.
6. Save time
In the absence of cloud computing, you spend a lot of time transferring data files from one computer to another. With cloud computing, you save time because team members can access information from the centralised databank hosted on the cloud.
One of the main reasons why you should use cloud computing is its scalability. When you are not on the cloud, what do you do when you add a few computers to your company and want certain applications in them? Obviously, you download or install applications in all the new systems.
When you use cloud computing, you save all this trouble. Since everything is on the cloud, nothing has to be stored on the systems. With most of the cloud computing providers, you get unlimited scalability options.
Switch to a cloud accounting software and enhance the efficiency of your business. You will be able to work faster, more efficiently, and save money – especially if you use Zoostr. To try a free Zoostr account click here.