Why is cloud accounting better?

So you’ve heard about cloud accounting but aren’t sure why it’s better than your desktop software? Here’s a list outlining issues with traditional accounting software and how the cloud overcomes these issues.

Cloud accounting software is accessible from any device at any time

  1. Both the data in the system and the software is often out of date in traditional software. Cloud accounting data is typically up to date, with bank transaction data automatically entered daily, whilst software updates feed through to the system automatically
  2. Traditional software is generally limited to working on one computer only, making it difficult to work in different locations and impossible to access when travelling. Cloud accounting software is accessible from any device at any time.
  3. Traditional software may have data moving from place to place, such as from your pc to a usb to your accountants and then back. This data is not secure or reliable. Cloud data is stored in the one place, accessed by all with updates done to the ongoing data only.
  4. Traditional software provides provides access for a limited number of people, making it difficult for key people to access financial and customer details. Cloud software allows access for many at all times.
  5. Keeping backups is a painful exercise, time-consuming and often costly with traditional software. With cloud software, backups are taken care of.
  6. Software upgrades require your time and effort. It’s expensive, difficult and time consuming to upgrade traditional software. Cloud software updates are done by the software company, without any action necessary for the user.
  7. Traditional software has a high cost with this cost borne upfront, whilst often necessitating the use of costly servers. It can be also difficult and tedious to scale up or down. Cloud accounting software is inexpensive, typically paid for on a subscription basis and simple to scale up or down.
  8. Traditional software can not interact or integrate with other software. Cloud software can, making an accounting system able to work together with a host of other software to provide a complete software solution.

That’s a pretty good list in favour of the cloud! Want to know more, contact us for a free consultation.