written by Melinda Thurman

Businesses desire to stay a step ahead and the usage of cloud software may be a solution.

As a business owner, some questions may come to mind surrounding Cloud Accounting software. What does this mean for my businesses? How does this benefit my operations? Is it secure?

The cloud is a means for sharing the same data among different users without hosting the software programs on their own systems in the office. The cloud can host programs, applications and be used as a place for data storage. With the ability to share data among more than one user, this enables accounting personnel and business owners to work remotely from their location and increase their collaborative teamwork.

Here are just a few reasons how Cloud Accounting software can benefit your business.

  • Increased efficiencies in personnel workflow
  • Personnel from multiple locations can work together seamlessly
  • Gain visibility into your business by providing real-time data to business owners
  • Easier to track success of meeting business goals
  • Ability to quickly adapt to changing business needs
  • Reduced software cost

While security is a concern for all business owners, data stored in the cloud is secure for both the provider and user end. Cloud software is provided via an internet connection that comes with multiple layers of protection through firewalls and security levels. With cloud software, if your computer equipment is lost or stolen, the software cannot be accessed without the specific user ID and password for the software unlike software programs installed on a desktop computer.

Cloud Accounting software enables business owners to assign users with full or limited capabilities in working with sensitive data. For example, an Accounts Receivable clerk can only be assigned access to the receivable functions while an Accounts Payable clerk is tied to the payable functions. In addition, business owners can provide their external accountant with software access to improve the processing of tax planning and annual tax returns.

Please contact us if you have any questions about Cloud Accounting 417-881-0145.