accounting in the cloud

Why So Many Accountants Love Handling their Accounting in the Cloud

Cloud-based accounting solutions provide multiple benefits to accountants, and as cloud-based solutions gain momentum in the marketplace, accountants are finding certain tasks more streamlined, making room for more strategy- and advisory-based roles.

Beyond the evolution to advisory roles, what is it about cloud accounting solutions that accountants love?

Cloud accounting can increase revenue

Perhaps one of the biggest draw of cloud-based solutions is that moving accounting practices to the cloud can increase revenue. As business processes become more efficient through automation, accounting staff can spend more time in advisory services, consulting, and business development.

Data backup is automatic

Another selling point of cloud-based solutions is that data backup is automatic. Data is not stored on a local server, but instead is stored on secure, remote servers. Limitations on IT staffing and infrastructure no longer stand in the way of the most effective way of managing accounting data.

Data is real time

Accountants also tend to be impressed by the ability to access data in real time. Data discrepancies between departments or specific users are a thing of the past, as are redundant data files.

Mobility for the remote workplace

As increasing numbers of employees are working remotely, cloud-based technology is more and more of a draw. Cloud solutions can be accessed from any web browser from any device, as long as the device is connected to the internet. This means data is always at your fingertips, no matter where you are accessing it from.

Better decision making

With increased data accuracy and easy-to-obtain financial reports, executives become more adept at decision making. Manual bookkeeping always provides a snapshot of the recent past, not the present, and businesses need current information to make informed decisions. Simply put, there is more time to spend on analysis, strategy, and forecasting—and the analysis, strategy, and forecasting is done using the most current data, immediately making it a more accurate process.

FYIsoft offers cloud accounting software

FYIsoft, which develops the best financial reporting software available, can help your business with its accounting needs.

FYIsoft provides all the benefits of the cloud while also integrating with your general ledger and not compromising the security of your core financial data.

The bottom line

It’s easy to see why accountants love handling their accounting in the cloud. Though implementation can take time and test patience, the new accounting solution will perform better and allow your organization to work smarter. Set up a demo and see why 8,500 users rely on FYIsoft’s cloud financial reporting software.