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Cloud-Based Accounting – What’s the Big Deal?
Today’s small business owners need real-time access and information about their businesses and the ability to connect with their accounting professional in an effective and efficient way. The solution….cloud-based accounting software. What is the cloud? Cloud-based software offers users access to technology on a monthly subscription basis. The software provider, e.g. Intuit (QuickBooks) or Xero, securely hosts all necessary databases and servers, and business owners access their data anytime, anywhere via an internet connection.
There are multiple benefits to migrating your company’s current accounting workflows to the cloud.
These include:
1.Enable smart organization for a distributed workforce. Since accounting information stored in the cloud can be added or accessed anywhere with an internet connection, dispersed team members can quickly and easily complete their work regardless of their physical location. Whether a sales rep needs to add an expense receipt or a project manager needs to check on a bill for a supplier or an owner needs to invoice a customer, having cloud-based tools in place makes organizing and accessing important information as easy as taking a picture on your mobile device or searching by vendor, amount or date.
2.Maintain relationships and easily verify any discrepancies. Your relationships with vendors, distributors, and customers play a valuable role in the success of small businesses. If a vendor questions why a bill hasn’t been paid or a customer notifies you that they accept your service quote, business owners leveraging cloud-based tools can quickly search for unpaid bills or convert estimates into invoices right on their mobile device. Having the power of these tools at your fingertips enables you to preserve important relationships with your stakeholders.
3.Use a broader suite of secure apps. Cloud-based accounting software like QuickBooks and Xero not only provide access to information and documents from any device, but they also integrate with other cloud-based tools. These cloud-based applications or apps provide industry specific solutions and seamless automation of workflows. Leveraging data across a number of different platforms and reducing time spent on manual data entry gives business owner more time to focus on the passion of what their business does and improve overall operational efficiency instead of managing paperwork.
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Transform Your Small Business With The Advantage™
Advantage Business Systems Plus wants to help your business succeed and grow. That’s how we measure our success. Whether your company needs financial advisory services such as managing cash flow and paying bills and minimizing outstanding amounts due from your customers or operational advisory services such as strategic planning and organizing workflows or technology advisory services to provide you with automation of your businesses processes and intelligent interpretation of data, we are your firm. As a QuickBooks and Xero advisor-certified company, we deliver transformative solutions to streamline your operations, grow your company, and save you time and money.
