Cloud based accounting software is very similar to the traditional desktop versions of software that we have been using, only that instead of the software being hosted on a remote server, data is now stored on cloud. Then what is the reason for the recent phenomenon of moving your accounting to cloud? According to Small Business Success in the Cloud, a report from Emergent Research and Intuit Inc, “it is predicted that nearly 80% of U.S. small businesses will be fully adapted to cloud computing by 2020.” Further, these cloud based accounting software come hand-in hand with cloud based accounting apps. These apps are designed to not just make accounting real time, but also introduce automation to many manual bookkeeping and accounting processes. Let us now look at some of the benefits cloud computing provides over traditional accounting software:
Is my data secure?
Cloud accounting solutions provide an equally secure environment of storing data as that of a traditional accounting software. For example, in both the cases, password protection of the office computer or that for logging in to the cloud software are important for data security.
If one considers the matter of backups, then cloud providers generally have backup servers in two or more locations. Hence, even if one network goes down, you still have access to your data. Information kept just on-premises could be destroyed or damaged in a natural disaster, and may never be recovered.
Let us finally look at some of the accounting software and apps that are revolutionizing accounting processes today:
These are just a few of the many available. The idea is to find the one that suits your business the best. We, at Fruxient Analytics, believe in empowering business owners to succeed. We can show you which accounting software and app shall suit your needs, how to use them, and be your support system so that you can take the reins of your company’s finances