Cloud accounting software provides several benefits to accounting professionals, yet some accountants are still wary of embracing the cloud. While cloud-based systems introduce a certain amount of unfamiliarity and risk, the rewards make the leap of faith worth it.
Why should your organization embrace the cloud?
Cloud-based accounting solutions provide several benefits. Among the multitude of benefits are improved access and mobility, increased security, intuitive interfaces and enhanced ease of use, and faster period closes.
Improved access and mobility
Cloud-based solutions are easy to access. Rather than relying on software locally installed on your hard drive, you can access the solution from any web browser of any device with an active internet connection. In today’s remote workplace, this on-the-go functionality keeps everyone current with the latest and most significant data and reporting–from the office, from the airport, and even from the beach. And, when everyone is working off of the same data, there is less chance of data discrepancy between departments, leading to enhanced data integrity.
Additionally, browser access rather than local installation leads to increased security. One aspect of this security is redundancy. If an on-site server crashes, you may lose critical data. Cloud data, however, is backed up. Many accountants falsely believe that local hardware is more secure than cloud software when in actuality data that is stored on remote servers is less prone to attack than local data. The lack of physical, on-premises access makes it much more difficult for third parties to locate and tap into data. Additionally, multi-tiered levels of defense and encryption are implemented by cloud service providers.
Intuitive interfaces and enhanced ease of use
Cloud systems are built with the user in mind. Many cloud-based accounting solution providers use drag-and-drop report builders, making it easier than ever to run reports–and save them for future use. In fact, with mobile access, the data is always just a few clicks away, and permissions can be set to protect data and users. It’s easier than ever to gain access to exactly the information you’re seeking.
Faster period closes
Closing the books is stressful, but it doesn’t have to be. With automation, enhanced reporting capabilities, and easier report distribution, it’s easier–and faster–than ever to close. This not only gains your team access to critical data days ahead of time, but also gives time back to the accounting team to focus on analysis, strategy, and advisory services. When your accountants have time back to do more, your firm stays relevant in this competitive marketplace.
Consider FYIsoft for your cloud accounting needs
FYIsoft can help you transition to the cloud. Realize faster period closes, easier consolidations, streamlined reports, and secure 24/7 access. Contact FYIsoft today to learn how a move to the cloud can benefit you.