More business operations are moving to the cloud, from CRM to Marketing to Accounts. One of the main benefits of switching your account system over to a cloud based system is the ability to access your information anywhere, and at anytime. In addition to this there are many other benefits that B2B companies can realise from moving their accounting function to the cloud.
Our cloud accounting specialist, David Ryles, shares his reasons every business should move to cloud accounting.
1. Instant Reporting On Demand
Financial reporting can still be highly labour-intensive. Turnaround times have improved over the years, but are your teams still spending too much time compiling month-, quarter-, and year-end reports? The most agile businesses are moving away from reporting cycles—focusing instead on instant reports with real-time business metrics. Cloud accounting gives you complete control over your financial reports, with the ability to quickly view and customise, as well as create side-by-side multi-dimensional reports.
2. Improve Accuracy and Avoid Mistakes
Ensuring data is accurate is essential in financial management. Manual processes can lead to duplication, errors and a lot of wasted time. Cloud accounting can automate all of the manual processes within a business, eliminating the potential human and system errors. This can also be an added protection from fraud.
3. Future Proof your Investment
By investing in cloud accounting software you are ensuring your platform can grow with your business and that you have access to the latest technology. Cloud accounting is scalable, allowing your accounting system to grow as your business does. If your strategy is to expand into new markets or geographies you can with multi-company, multi-currency, multi-language capabilities. What’s more, the companies behind cloud accounting are investing in the future technology and passing these benefits on to their customers.
4. Full Integration with Other Systems
Most cloud accounting systems can integrate with other cloud based operations. This enables business to connect the front and back offices for collaboration across digital platforms in new and efficient ways. Cloud accounting enables sales, accounting, banking, invoicing, and payments to all be integrated into one platform. There are also thousands of add on apps that may suit your business and open the door to endless possibilities.
5. Improve in Efficiency and Productivity
Cloud-based accounting can be far more straightforward, giving everyone in the business access to centralised data as and when needed – regardless of where they happen to be located. Streamlined workflows and improved collaboration boost productivity so you have time to focus on what you do best.
At Xenogneix we work with our customers to implement cloud based solutions to benefit their businesses. Sage Live is the world’s first real-time accounting solution built on Salesforce.
By unifying your data in one hub with Sage Live, you no longer have to deal with the time-waste of departmental blockades (such as outdated technology, red tape, collating reports from disconnected sources, or digging for customer information that’s nestled away in other departments or applications), all of which obstructs the flow of critical information.
To find out more about Sage Live and the difference it can make to your business call our expert consultants on 08456 525 625 or fill in the form here and we will get in touch.