Accounting is a field with quite a longevity, as individuals and companies have been handling taxes and monetary transactions for centuries. Given the long life of this field, the top methods for tackling work and managing communications among staff members at a firm have changed through the years.
In recent times, cloud accounting software has become popular, and understanding the benefits of these systems can help you see why your firm should make the switch. If your firm already uses cloud-based software, consider the reasons to upgrade to a more modern program.
Backup for Important Data
Cabinets filled with paper files may have been a proficient system decades ago, but now, these storage units are simply often cluttered. Paper files are susceptible to floods, fires, general decay, wear and tear and theft. Even storing files on one computer is a risky move. All stored information can be lost forever if the computer is stolen, destroyed or otherwise compromised.
What is ASC 606? This program ensures your client’s data and information stay safe and secure. Storing information in the cloud allows access even if your work laptop is lost or damaged. Another benefit of moving to a cloud-based system is the ability to advertise your firm as an environmentally friendly one. This approach can be appealing to both employees and prospective and current clients.
When using a cloud-based system, you might have security concerns. The good news is that a proficient software company will prioritize cloud security. In other words, by working with an experienced and trustworthy service provider, you can rest assured that security will be emphasized.
Speak with a representative to learn about certain steps you can take to optimize cloud security. Before using the cloud, offer training sessions to teach staff members about techniques to bolster security. Remember that a cloud-based system is typically more secure than paper files scattered about an office or data stored on individual computers.
Stronger, Clearer Communication and Collaboration
When employees are working from paper versions of documents or from files saved on their own laptops, confusion can arise. For example, employees might find discrepancies between documents that are supposed to be identical. With a cloud-based system, this issue is eliminated because all employees work from the same document version.
Accessing information on the cloud also means that employees can collaborate more efficiently on projects, whether in the office or at home. Communicating more efficiently and with fewer errors can increase overall productivity since team members won’t need to waste time on as many trvial issues.
Working from Home
In recent years, more employees have started working from home in all different types of businesses. Your accounting firm might allow staff members to work exclusively from home or offer employees the ability to work from home on set days. Storing information on the cloud means that team members don’t have to worry about how they will move data and other details from one computer to another.
When employees are working from home, they can simply access the cloud. Changing to a cloud-based system can also allow your company to evolve in the work-from-home era. For example, you might hesitate to shift to a full or partial at-home work model because you’re concerned about sharing information.
A cloud-based system ameliorates that concern and allows you to provide your employees with greater flexibility. When employees can work from home fully or partially, you see an increase in both productivity and morale.
Moving to a cloud-based system is a smart move on a technical level. However, this change also has benefits for your employees. Many of your staff members are likely comfortable using a cloud-based system for personal purposes. Switching to a mode that is familiar to employees can boost productivity and expand job opportunities. As a result, this change can benefit the firm as a whole.