As more and more small-to-medium size businesses (SMBs) turn to the cloud for accounting, an interesting phenomenon is also taking place. As legacy accountants are retrained to learn skills specific to the cloud environment, these accountants also become upwardly mobile, as the skills are in high-demand in the marketplace.
With traditional, legacy accounting systems, the struggle was finding qualified accountants to run these systems, but when that goal was accomplished, it meant a stable, large accounting department. In contrast, by adopting cloud-based accounting software, the accounting department is smaller with more frequent turnover—the stable environment is suddenly very competitive, leaving the company vulnerable.
Many companies are turning to outsourcing their finance and accounting work. Although SMBs do not require a large accounting team in this new environment, they do require the support of a larger team to mitigate the higher turnover.
The SMB market was previously not a productive area for outsource service providers to focus on, but as people and technology both disrupt the industry, the market has become more attractive, and more and more opportunities are arising. Ultimately, companies who would have never previously considered outsourcing their finance and accounting and turning to this option as a solution to the risks of adopting cloud-based software.
Where does FYIsoft come in
Adopting cloud-based software can seem risky, and it is a big investment. That’s why it is so important to partner with a software provider that understands the risks and works with you to make the transition seamless so your accounting practice can be more productive. FYIsoft has 8,500 users and counting, and the team is ready to help upgrade your software, process, and workflow.
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.