How Cloud Accounting Saves You Time
If time is money, then your growing business could surely use more of both. Scaling up requires more streamlined processes that save time for your finance and accounting staff—and that’s time they need to focus on strategic activities that drive business forward. Fortunately, cloud accounting solutions do more than streamline your processes. In addition to saving time, they actually make time for your organization and become an important part in enabling ongoing growth.
Let’s examine the ways cloud accounting means more time for your business.
Easy Implementation = More Time
Cloud accounting solutions are relatively effortless to get up and running. Unlike on-premise solutions that often involve the purchase of new hardware to handle machine-based software installations, cloud software is accessed through a web browser or app. While your cloud-based solution takes implementation time to integrate your systems, connect your data sources, configure your software, etc., the process is quicker—it’s designed and deployed for your team to start using it as soon as possible.
If you’re ready to upgrade to a new financial management and accounting system and are weighing the alternatives, don’t miss On-Premise vs. SaaS: New Accounting Software Solution Faceoff and 5 Tips to Prepare your Accounting Team for a Technology Change.
Automation = More Time
Once your accounting team is up and running on a cloud-based accounting solution, so much of their “old way” of manually working is now automated. Their systems and data are connected, so they’re not re-keying transactions into multiple places. And all the paper and pencil pushing they used to do? Everything from invoicing and payments to expense reporting is now digital. It all adds up to more time on their hands to conduct deeper-dive reporting, develop vendor relationships, and explore more time-saving ways to collaborate with the team.
To get more specifics into the impact of cloud-based automation, turn to Supercharging Accounts Payable is as Easy as 1, 2, 3 and Managing Multiple Entities with Flexibility and Ease.
24/7 Access = More Time
The internet has fueled productivity for people and businesses across the board. Cloud-based accounting software solutions leverage the internet and related technologies so your organization can make the most of it—and in real time. Since users can access their software, tools, and data from any web-connected device, any time of day or night, their productivity is limitless. They don’t have to be sitting at their desk in front of their computer—they can be en route to the airport or sitting at their kitchen table. That means no waiting until tomorrow for an approval or for feedback on an urgent matter.
Take a closer look in Your 24/7 Financial System: Empowering your Team to Work Remotely.
Built-In Updates, Maintenance, and Support = More Time
Cloud-based financial management and accounting software is hosted, meaning all of your data and tools are managed by your vendor’s support team and accessible via their secure servers. This translates to lower costs and more time for your organization because your resources are not being used to maintain and service your system or users. When there’s a software update or a “glitch” that needs fixing, your vendor’s IT team takes care of it automatically and with little, if any, downtime.
Learn more about the advantages of a hosted solution in How Cloud Accounting Saves You Money.