Cloud Based Accounting – Why you need it. Now.

The internet has changed the face of business today and is continually redefining the landscape. Traditionally, a user’s desktop computer (called a client) or server was fully contained with hardware and software. This means that accessing data and programs was done exclusively within client server structure.With today’s rise of the internet and ever-present devices such as tablets and smartphones, the new approach is Cloud Computing and previously unattainable benefits are now at your fingertips.

Cloud based systems allow the access of data and programs outside of one’s own computing environment. Applications, databases, email and file services are stored in ‘the cloud’ instead of internal storage in PCs. Although the original attraction of the ‘the cloud’ is safe data storage, unaffected by crashes, disasters and “oops” moments, there are many other benefits of the cloud:

No need to start over
The idea of moving operations to cloud computing is daunting for most businesses that rely on traditional methods of computing. This poses a significant hurdle while switching from the existing hardware and software on the PC to a cloud application. In reality, cloud services offer a seamless transition. Meaning, small businesses that don’t have the time to reformat and update years’ worth of files can switch to cloud services very easily. Features like integration of data from current office software and web apps help a business to be on the same page without making a fresh start on cloud. That’s great news!

Sharing, collaborating and document control
Cloud storage revolutionizes the internal communications of many small businesses. In the absence of cloud computing, employees have to send files back and forth over email. Resulting effect: only one employee can access a file at a time, and the same document has myriad of names and formats. Cloud computing frees small businesses from this tedious method of communication and sharing. When all the files are kept in one central location and everyone work from one central copy, collaboration in the firm becomes stronger. While working on a project across different locale, cloud computing allows more than one person to access the same file at the same time. This type of document control helps bring efficiency to the organization.

In situations of theft, damage, system error, hardware or software problems, etc. important data of the business can often be lost or fall into the wrong hands. In addition, it might also have some serious monetary implications. But when all data is stored in the cloud, data is still accessible regardless of what happens to the machine.

Flexibility of working from anywhere/Work-life Balance
As long as employees have internet access, they can perform the work from anywhere in the world. This flexibility enhances employees’ work-life balance and productivity. It is also found that 42% of working adults would give up some amount of their salary if they could work from other locations. Cloud computing has also allowed many businesses the ability to set up virtual offices.

Reduce IT costs. Save your money!
The cost of managing and maintaining IT systems reduces when businesses move to cloud computing. Substituting the purchase of expensive systems, hardware and software for a business with cloud computing service provider results in cost saving. Other reasons for cost reduction are low energy consumption costs and fewer time delays.

Free of capital expenditure
There is no need for capital expenditure as cloud computing services are typically ‘pay as you go’. Also, they are much faster to deploy. This leads to minimal project start-up costs and predictable ongoing operating expenses.

Facilitates disaster recovery
The most important part of business continuity planning is protecting your systems and data even in a crisis situation. If businesses move to cloud-based services, the need for complex disaster recovery plans is eliminated. Whether a company faces a natural disaster, power failure or other crisis, cloud storage of data ensures it is backed up and protected in a safe and secure location. Quick recovery and access to the old data again allows you to conduct business in continuity, minimizing any downtime and loss of productivity.

Automatic software updates
Most cloud computing service providers offer automatic system update with the latest technology. This includes up-to-date software version, upgrades to servers and computer processing power. Businesses do not have to purchase and install expensive updates as cloud service providers can handle it for them.

Get a competitive edge
The cloud grants small and medium enterprises (SMEs) an easy access to enterprise-class technology and allows them to act faster than established competitors. One study showed that companies that did not use the cloud had to rely on tape backup and complicated methods, which are slow and laborious, to recover the data lost in a disaster situation. Cloud users enjoy having that competitive edge over others as they do not require such procedures.

Cloud is environment friendly
Businesses using the cloud can add “Green” to their business description. Cloud storage uses only the required amount of server space, which decreases their carbon footprint and in addition, using the cloud consumes 30% less energy than using on-site servers. SMEs get the most benefit of this reduction as the cut in energy consumption and carbon emissions is likely to be around 90%.

Find out more about “Invisible Accounting”, leveraging “The Cloud” and making a seamless transition.
Schedule a free Strategy Session with Gerry Anderson, President of Logicon Solutions to review the options available to improve your accounting processes and Increase your Profitability!

You provide a quick review of your challenges and I provide you with information on how you can overcome these challenges based on proven systems that work. We will look at how you can implement the fixes and your next steps to immediately improve your cash flow and reduce your accounting costs.

Gerry Anderson, M.Sc., CPA, CMA
Toronto, Ontario: 647-933-0955 ext 301

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