How Cloud Computing Could Help Your Accounting Business
The rapid evolution of technology has changed the way we live our day-to-day life and has improved the way we manage different aspects of our business. One profession that has dramatically advanced in recent years has been accounting.
Accountants have moved from manually calculating figures to balancing sheets on Excel and are now organizing data through online accounting software. Today, more accounting companies are offering cloud-based accounting solutions to keep up with the requirements of business owners.
Businesses use the cloud to store information and perform operations in a way that is safe and secure. It allows companies to gain access to superior infrastructure in a cost-efficient manner. Accountants can log in to their clients’ bookkeeping and payroll systems while their clients use the software from any device and location with an internet connection. The cloud enables a more convenient collaboration between CPA’s and their clients.
The advantages of cloud computing are that it reduces the need to run applications on a desktop and provides a secure way to protect business information in case of loss or theft of equipment such as laptops. Using the cloud eliminates the need and expense of maintaining an accounting infrastructure on your own. The responsibility of replacing servers and desktops as well as updating accounting software is no longer the enterprise’s problem.
The only con for cloud computing in accounting is that some accountants and their clients are not familiar or comfortable with the cloud replacing their legacy software and equipment. Moreover, some accountants and businesses make uninformed security assessments about accounting in the cloud. These problems will be cleared up by the ubiquity of the cloud in accounting. Also, some accounting software providers may soon decide to operate exclusively in the cloud.
Cloud computing has proved beneficial to many businesses and will continue to evolve the way they operate systems. The cloud is not only the future of accounting but also a big part of the current state of accounting. For those unfamiliar with it, now is the time to adopt this technology in your business.
At John P. Jones Inc., we encourage our clients to use cloud-based accounting packages as an opportunity to grow. Clients can leverage the cloud to gain insight into understanding their business process which in turn can improve their business performance.
As a full-service business consulting and advisory firm with more than fifteen years of experience, we are a member of the Illinois CPA Society and are certified in both desktop and online versions of Quick Books.