Technology is developing quickly. New and better solutions are continuously emerging. One innovation that completely changes the game is cloud computing, which makes data accessible online at any time and from any location.
There are countless cloud-based applications that support your clients’ enterprises in more ways than just economics. They are delivering benefits typically only available to large enterprises to the smallest of firms, improving creativity, productivity, and profitability. Owners can now concentrate on their strengths.
What benefits does cloud computing offer, then?
The following list includes just 10 of the various factors why small business owners are choosing cloud computing. Knowing these will help you provide your clients the best advice possible and will help you realise how they might fit into the entire service you provide.
1. Cut costs
A small business used to shell out a lot of cash for software licencing or purchasing bundles to install on individual machines. All of that is eliminated by cloud computing, which offers “Software as a Service.”
This comprises a lot of programmes that are offered separately and frequently with free trials. Since these apps aren’t saved on your hard drive but rather on the remote server of the service provider, you don’t need a powerful computer to use them.
Additionally, not only can you access them from your phone or tablet, but they were created to function on those devices. You can, in essence, be everywhere.
Updates and programme maintenance are handled by cloud software providers; these fees are entirely fixed on a monthly subscription basis. Consequently, you can support expenses dramatically.
2. Saving time
Cloud computing, sometimes known as “plug and play,” was created to be an on-demand service that requires little user expertise or interaction. Therefore, there is no need to waste time downloading updates and installing apps. Regularly software developers release new versions. What’s more important is how much work can be automated. Many accounting and bookkeeping procedures, including inputting invoices, reconciling bank accounts, and reporting, were formerly carried out by hand. Everything is automatic with cloud computing.
This enables business owners to concentrate “on the business, not in the business” and on generating profits and company expansion.
Additionally, it enables accountants to adopt a new position where they assist clients in expanding their enterprises by serving as tax and business counsellors.
3. Working together
Instantaneous data and document sharing through the cloud is much quicker and simpler. Instead of waiting for coworkers back at the office to retrieve and email them a document, a colleague on a business trip, for instance, can easily locate a company document through the online platforms.
The cloud allows the same coworker to file their cost claim remotely as well. Hotel, restaurant, and travel invoices are photographed by accounting software like Sage 200 Standard Online, for instance. Any expenditure claims can be authorised, approved, and paid before the traveller even gets back home. The rules for the various expenses can be established with your assistance as the accountant, ensuring that everything operates properly and in accordance with HMRC regulations.
Cloud software, as opposed to conventional accounting software, enables affordable multi-user access. Therefore, collaborating with coworkers and advisors to generate outcomes and address issues is considerably simpler. You can limit someone’s view to only what pertains to them without disclosing all the firm information by controlling the level of access that individuals have to your data.
You, the accountant for the company owner, can view real-time data thanks to the cloud. You don’t need to wait for your customers to send you invoices and receipts.
4. Versatility
One of the main “Software as a Service” services provided by cloud computing is data storage. Even the biggest corporations gain greatly from being able to access vast informational databases without having to manage their own floors of servers.
A growing company might free up time and space by outsourcing in this way rather than adding more hard drives and servers to enhance capacity. To access it, all you need is a computer or other electronic device with Internet connectivity.
5. Dependability
Have you ever experienced a hard drive failure, a corrupted flash drive, or a piece of torn, ruined, or lost paper in the past? It’s not very enjoyable, and we’ve all been there. Although cloud-based software is not faultless, the majority of programmes have an average uptime of more than 99.99%.
It serves as further evidence that software as a service (as opposed to a product) is more dependable. Since software isn’t downloaded onto individual computers, each of which runs different systems and programmes that can easily conflict with one another, fewer issues develop. Direct software management and problem-solving are handled by cloud software providers.
6. Portable
When technology allows you to carry everything you need in your pocket, why do some people still submit themselves to the immovable nature of on-site physical storage?
You don’t have to rely on the storage capacity of the device itself, which gives the impression that cloud computing was created especially for mobile devices. Documents can now be saved in the cloud instead of having to be emailed from your home computer to your workplace PC. Then you can go to them from both places.
You can now operate your business from a variety of locations, including your home or place of employment. No matter where you are, you can see how your business is doing in real time.
7. Security
One of the main issues raised in relation to cloud computing is security. However, there is actually no need because the cloud is a lot safer than you may imagine.
To begin with, you’re protecting yourself from actual theft, such an intrusion at a place of business. Unless they possess your internet log-in information, no one can access your data.
Additionally, according to the National Cyber Security Centre, system failure or hacking are not a problem. This is due to the advantages of scaled security provided by well-engineered software. To spot security trends, your provider will scan all of their connections and clients. By doing this, you can be protected before any issues affect your company.
Cloud software also frequently employs additional encryption levels and https certification.
8. Recovery from disaster
Whether you use cloud computing or not, it is always vital to backup important information on a different hard drive. However, even if a natural disaster, like a fire, prevents you from accessing your physical location, your papers will still be securely stored on the cloud.
If a disaster strikes, your business activity need not come to a complete halt because you may view your papers from any location with an internet connection. A crucial instrument for maintaining company continuity is cloud computing.
9. Changing IT
According to studies, cloud computing can reduce life-cycle costs for businesses that employ a lot of in-house servers by up to 50%. You can advance far more quickly than the competition when you take into account the reduction of service interruptions brought on by conventional IT concerns, such as downloading updates and repairing system flaws.
Additionally, cloud computing provides useful add-on programmes that make it easier for you to file invoices and receipts. These are quickly gaining popularity and are simple to integrate with cloud accounting software.
They provide clients the option to do a systems assessment, allowing owners and their staff to focus on areas that take up too much time. Where possible, they try to eliminate manual intervention, including the usage of spreadsheets.
10. The surroundings
While the aforementioned benefits of cloud computing for small businesses are unmistakable, switching to the cloud is not solely a self-serving decision. The environment also receives some love.\
Your server capacity adjusts up and down to suit as your cloud demands change, ensuring that you only consume the energy you require and leaving minimal carbon footprints. By eliminating the need for physical storage, a lot of the waste and pollution that comes with throwing away hard drives, paper, and ink is also removed.
Conclusion
Many firms would be persuaded to go to the cloud by just three of the aforementioned advantages. When you total up all 10, though? It’s getting close to being a no-brainer.
The future of business is being shaped by cloud computing. Cloud accounting helps everyone more easily comply with government digital tax rules thanks to Making Tax Digital.
So it makes sense to join in if your clients use cloud accounting software like Sage. You’ll not only benefit in the same ways as your clients, but you’ll also be in a better overall position. You won’t just be a number cruncher anymore; you may expand and build your business as a dependable counsel. Watch your earnings increase.
You can also read our blog on cloud accounting here.
How Itas Can Help You Move to a Cloud Option
Here at Itas Solutions, we recommend Sage Intacct as it can help you achieve a 250% ROI and reduce your monthly end time by up to 79% with real-time powerful reporting and easy integration with other software such as Salesforce.
Who we are
Itas is a multi-award-winning Sage partner. Having started in 1995 with just one customer, we now support over 200 clients nationwide. They know we are always there to provide a helping hand, whenever they need us. Trusted by our customers for over 20 years, Itas has been built on referrals from customers and IT professionals that love the expert yet personal service that we offer.
If you would like to know more about how Itas can help your business with Sage implementation and improve purchasing control, you can get in touch at info@itassolutions.co.uk, call us on 01824 780000 or contact us via our website by clicking here.
