Up to 65% of the UK’s accountancy firms now offer, or are planning to offer, cloud accounting, so it’s a great time for any SME executive officer to consider all the benefits. Here’s four reasons why SMEs should switch to cloud accounting:
1. It’s more flexible
Switching to cloud accountancy makes it really easy to manage accounting while out and about. It’s often the case that the CEO of any SME wears a number of business hats, including running the sales or marketing functions. If you’re continually visiting clients and travel to meetings a good deal, accessing your accounting data while on the go is simple as long as you have an internet connection. Working from alternative locations is also a lot easier when you can look up finance details any time, any place.
2. Collaboration is easier
Collaborating with your accountant and key team members is a piece of cake when cloud accounting is in place. All finance activity can be monitored regularly with cloud accounting software and sharing files and documents with your business accountant just takes a couple of clicks of a button. What’s more, the real time nature of cloud accounting means all team members can work together no matter where they happen to be situated.
3. It’s efficient
Careful management of cash flow is second nature for SMEs, so migrating the accountancy function to the cloud is a cost-saving efficiency to boot. Using the cloud can mean less need for IT support, less maintenance, lower use of power and no requirement for continual upgrades. If you run a global business operation, you’ll be even more impressed by cloud accounting. Associates and employees can be located anywhere in the world, yet still have access to all the traditional accounting tools and data that’s generally associated with main office functions.
4. Financial data is secure and protected
Keeping your financial data secure and protected is an important factor for any SME, with cloud accounting you can rest assured that you’re opting for the cost-effective solution that provides all essential protections against cyber attacks and also offers the infrastructure needed to handle essential recovery when required.
Cornel Accountants offer a cloud accounting service to SMEs and businesses of any size. Get in touch with us to discuss the full range of accountancy services offered.