As we are waist-deep into the digital age when it comes to business operations, SMEs constantly play catch up with new and emerging technologies that help their businesses move smarter, faster and clearer.
Cloud computing has become one of the most prominent transformative tools for SMEs, restructuring ways management and financial data are used and enabling accountants and bookkeeping services to deliver their services more efficiently and effectively.
Accessibility and Collaboration
With cloud computing, businesses gain instant access to their financial data at any time and place with an existing internet connection.
The accessibility is of great advantage for business owners that operate from multiple locations, run remote teams or have employees who travel as part of their role. With real-time collaboration features, business owners can facilitate seamless teamwork with bookkeepers and accountants – making financial management simple. It is hugely advantageous for report sharing and decision-making essential to business growth.
The security of financial data is a worldwide concern and classed as one of the most crucial factors in business operations. Cloud accounting provides robust security measures to maintain that security measure.
Reputable cloud computing platforms have higher levels of encryption, secure servers and regular data backups that safeguard all sensitive information against any intruder party trying to gain access – and any potential loss and damage.
Cloud accounting is a benefit in eliminating expensive on-premises hardware and software installations. These upfront costs for businesses can sometimes be very substantial.
With cloud accounting, business owners can subscribe on a pay-as-you-go basis, scaling all usage up or down as required. It also saves on IT infrastructure maintenance and upgrades as this would be handled by the cloud service provider.
Cloud accounting platforms seamlessly integrate with other business applications, including payment gateways, payroll systems and customer relationship management (CRM) software.
The integration enables a smooth flow of data between systems whilst eliminating manual data entry and errors associated with it. Cloud accounting offers automation features like recurring transactions, invoice reminders and bank feeds that save time and streamline the business’s financial processes.
To discover more about cloud computing and bookkeeping services in Manchester, contact the friendly team at Pebbles Bookkeeping today.