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Why Top Execs Use Cloud Accounting – Here’s a Hint: It’s Reporting

Why Top Execs Use Cloud Accounting – Here’s a Hint: It’s Reporting

Executives are busy people. Between meetings, appointments, managing their staff, and managing their inbox, not much time is left in the day. This means pertinent financial information about budgets, revenue, and more needs to travel and be digested fast.

This lack of time is one of the key reasons top executives use cloud-based systems: getting to the meat of the matter is quick, easy, and accurate when it comes to the reporting function of cloud software.

What makes cloud-based systems so executive-friendly?

Recent studies show that executives are overall impressed with cloud accounting solutions—in fact, 76 percent believe that a solid cloud strategy will be imperative to their company’s success in the next year.

The major benefits executives are finding are:

  • Timing is everything

With traditional accounting systems, financial reporting can take a while to reach the hands of those who need it. With cloud accounting systems, all users can access the most current data available instantaneously. Executives are therefore able to access the data when and where they need it most—a cloud-based system can be accessed on any device with an internet connection, as data is stored in remote servers rather than on-site.

  • Accuracy increases

What good is a fast report if the information is inaccurate? With cloud-based systems, manual data entry is minimized, and much of the accounting processes are automated, reducing much of the element of human error. And, all users from all departments are getting the same numbers, which reduces the likelihood of creating redundant reports (especially redundant reports with different numbers).

  • IT is off the hook

One important factor to executives is the alleviation of managing the software in house. The IT team can be freed up to work on other initiatives, and users of the cloud solution can instead access support directly from the software provider. IT teams are stretched thin and very little time and money is reserved for managing users for specific applications. Data from cloud systems is stored on secure, remote servers, giving the IT team one less application to worry about.

What FYIsoft can do for executives

FYIsoft is an industry leader in cloud-based accounting software and offers solutions that fulfill the busy executive’s needs. FYIsoft’s easy-to-use cloud solutions simplify even the most complex financial reporting demands by automating manual processes and enabling users to get the right information to the right people.

FYIsoft solutions help users with financial reporting, management reporting, financial consolidation, close management and reconciliation, report distribution, and more.

To start reaping the positive benefits of cloud software, including improved data accuracy, security, 24/7 access, automation, and improved communication, contact FYIsoft for a demo today.

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