Cloud accounting, that term you keep hearing about. You are either a business owner or high net wealth individual, and your focus is on your business or investments, not the books. Your time is finite and needs to be spent in the most efficient and important way, wouldn’t you agree?
One thing we can certainly agree on is that there never seems to be enough hours in the day. In a world that demands we go faster, why slow yourself down and ultimately create more work by using out of date methods?
From ‘Data Entry’ to ‘Data Flow’
Cloud accounting gives you time back – How? First and foremost, it eliminates mundane tasks. By connecting to your bank you move from a world of ‘Data Entry’ to ‘Data Flow’. No more manually entering the numbers, it flows directly from your bank – hours saved. No more emailing files, sending USB drives. No more phone calls saying your file cannot be opened, which version are you on? The time spent on the phone, driving to drop off discs etc. it adds up.
Rear View Mirror Approach is Yesterday Accounting used to be a historical service. You use old data to analyse a current situation, does that sound right to you? If I asked you how much money is in your or your business’s bank account you are able to login right now and tell me. If I asked you how much money your business has made this week, you should be able to tell me just as quickly – now you can.
But my way works! That is true, but it is in our nature to seek out better ways of doing things. Did you swear you would never buy a smartphone because your Nokia 3310 still worked? Of course not, you embraced change and a new way to do things.
Taking Control of your Business & Financial World Another advantage of adopting cloud accounting is the benefits you get from various real-time analytical tools. These will assist in making informed decisions that help control and manage your business. Many of our cloud accounting clients now engage in quarterly meetings with us, which helps analyse real-time numbers to assist in driving their business forward.
Security – That Old Chestnut It is secure? If you have ever used internet banking you have exposed yourself to the same level of risk. Cloud software uses 128bit or 256bit SSL encryption (depending on vendor), the same level as the banks you log into regularly. By adopting a cloud accounting system, you are less likely to be susceptible to disaster. From simple hard-drive failure, laptop theft or unforseen disasters, cloud accounting puts you in the drivers seat to over come such challenges.
At the core of cloud accounting is you – the business owner / investor. It is designed for you, to help you make informed decisions and ultimately achieve your goals. It is easy to use, easy to learn and if you try it you will not want to go back.
If you would like more information, or are ready to get started, please contact your accountant at WMS today.