How Cloud Accounting Makes Your Life Easier
When you move your financial and accounting management to the cloud, everything becomes so much simpler. It’s almost ironic that implementing cutting-edge technology—a solution that expands your capabilities to accommodate more complex business needs—can make your life easier. But it does, and in so many ways. Let’s take a closer look:
Cloud accounting software automates processes that your team is used to doing manually, lifting your reliance on both paper and spreadsheets. For example, payment approvals can be made online, from any connected device, with no paper chase; you can input a transaction once and it syncs up with integrated systems so you don’t have to key it into multiple screens. And since your various transactions are completely digitized, your data is more accurate and requires little, if any, time-consuming corrective action.
Learn more about the power of automation in Supercharging Accounts Payable is as Easy as 1, 2, 3.
Easier Implementation and Maintenance
There are several things to consider when adopting a new accounting solution, and you may need to weigh the pros and cons between on-premise (hosted locally) and cloud (hosted remotely) solutions. Hands-down, cloud-based software offers simpler, faster implementation. There’s less up-front investment in hardware, for instance, because you’re using your software vendor’s resources. Plus, keeping your software running smoothly and up-to-date is simpler for your IT team because your SaaS vendor manages upgrades, troubleshooting, and even user support.
Get more details in the On-Premise vs. SaaS: New Accounting Software Solution Faceoff.
Easier Vendor Management
Moving over to a cloud-based accounting software solution enables you to work with your partners and vendors more smoothly. Since the processes that connect you (e.g. payments, approvals, reports) are automated, you can address issues more quickly, deliver more insightful data, and drive more value overall. Delve deeper into the 3 Ways Your Purchasing Department Will Flourish with a cloud accounting solution.
Easier access to…
- Your company’s users can access their accounting software, data, and tools around-the clock, on any connected device.
- Actionable data. With both real-time and historical data ready to be “crunched” at less than a moment’s notice, your cloud accounting software provides decision-makers with the insights they need to identify opportunities and solve problems, with ease.
- Your SaaS vendor’s specialists—not your internal IT reps—are always available to help you make the most of your software and troubleshoot user issues.
Easier team collaboration.
Aside from every software user having around-the-clock access to their data and tools, systems like Sage Intacct’s cloud accounting software come with built-in collaboration tools. These make it easy for team member users to communicate within the system itself—at the source of the issue—to save time and effort. Find out more in 4 Tips for Fostering Financial Team Collaboration.