Posts tagged with "cloud"

Why Accountants Should No Longer Be Scared of the Cloud

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.

Increased security

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.

Cloud Accounting

5 Benefits to Moving Your Accounting to the Cloud

As cloud-based accounting solutions emerge in the marketplace, more and more benefits are being realized for accounting firms and accounting professionals. Cloud-based solutions allow for faster, more efficient work to be completed, and the implementation of cloud technology also lends itself to growth for both individuals as well as within the industry.

Improves data accuracy and workflows

Cloud-based solutions tend to automate error-prone manual tasks, making for improved data quality and accuracy. While many traditional accounting systems relied on Microsoft Excel and similar programs for the housing and maintenance of data as well as complicated formulas, cloud-based services offer automation to pull data in from a variety of sources as well as accurately calculate complex formulas. Additionally, as cloud-based services are accessible from any device configured with an internet connection, data accessed by all users is always the most current and accurate.

Frees time to focus on advisory and strategic work

By reducing the amount of time accounting professionals must spend on tedious, manual tasks, accountants’ time is freed up to focus on more strategic work, including advisory services. Your staff can now be used at its full capacity, leaving the most time-consuming calculations to the computers. As individuals’ skill sets grow, so does the accounting team and company.

Decreases dependence on IT staff

Traditional accounting systems require a lot of upkeep. Software is installed locally on all users’ machines, and maintenance is provided by the organization’s IT team. On the contrary, cloud-based services are not stored or installed locally because they are web-based services. They can be accessed remotely from any device with an internet connection, meaning the IT staff is less burdened to support the software. Many cloud services provide support packages to users of the software, further relieving the organization’s IT team.

Increases productivity and profitability

By reducing the time spent on manual tasks, accounting professionals are able to increase productivity towards more strategic goals. And, by consistently accessing error-free reports, organizations are able to quickly analyze data to lead to increased revenue generation. Similarly, staff time is no longer devoted to hunting down manual errors in Excel formulas, reducing time waste across the board.

Reduces costs

The final benefit to moving your accounting to a cloud-based provider is cost reduction. Less resources are required to support cloud-based systems, meaning a cost savings in the areas of infrastructure and staff time. Additionally, cloud-based services lead to a world of financial reports absent of costly errors.

What FYIsoft can do for you

FYIsoft develops the best financial reporting software available. Integrated with your general ledger, FYIsoft provides all the benefits of the cloud, without compromising the security of your core financial data. By moving your accounting services to a cloud-based provider like FYIsoft, you can enjoy improved data accuracy, a focus on strategic and advisory roles, decreased dependence on IT, increased productivity and profitability, and a reduction in costs.