Aron Govil: The Top 5 Benefits of Moving Your Accounting System to the Cloud
Cloud computing is revolutionizing the way companies, large and small, share information and execute processes. From business analytics to data storage and transactions management, cloud technology can fundamentally change how companies work with their data.
As more businesses rush to jump on the cloud bandwagon — either in part or entirely — we take a look at the top five benefits that come with moving your accounting system to the cloud.
1: Better Control of Your Data
The biggest benefit of storing financial data in the cloud is better control of your most valuable asset: your company’s data. The need for companies to protect their most important information has never been greater; every month seems to bring with it news reports detailing another cyber security breach or hack exposing thousands of customers’ data.
As per Aron Govil by moving your accounting system to the cloud, you are completely eliminating the threat of malware or potential third-party infiltration into your back-end systems that could lead to sensitive financial information being leaked.
With most companies now using offsite cloud storage facilities for their backups, this also means highly secure disaster recovery is another benefit of using cloud technology for business data storage. With the right backup plan in place, you’ll even be able to recover vital records within seconds if disaster were ever to strike.
2: Improved Collaboration through Simplification
While onsite servers can be used collaboratively by different employees via a virtual private network (VPN), this workaround does not work on all devices and can often require additional set up, making it a far from ideal solution. With cloud-based servers, collaboration is simplified and platform agnostic allowing employees to access their work from anywhere, at any time.
3: Less Downtime
In addition to being much simpler to collaborate across an organization, storing business data in the cloud also reduces the likelihood of system downtime significantly. Any IT professional will tell you that a significant amount of time can be lost just trying to travel to a client’s office and setting up your laptop before being able to get going on any work. By using cloud storage facilities, all employees have easy access to their files 24/7 from wherever they may be via mobile or desktop without having to worry about whether or not they remembered their flash drive back at the office.
4: Lower Costs for Onsite Servers
If you’re a business owner, trying to balance the books and keep costs down, moving your accounting system to the cloud will help you save money in several ways. The first way is by drastically reducing IT running costs as installing local servers will no longer be required. Combined with optimized data center infrastructure and better collaboration capabilities, having your finance records available on-demand also reduces unnecessary printing and postage fees . Furthermore, moving an accounting system to the cloud can save small businesses up to $15,000 per year.
5: Improved Data Security and Accessibility
For individuals who work from home or travel frequently and don’t want their clients seeing what they’ve been working on, storing financial data in the cloud is the most secure option. By storing any client or customer data in a secure, private cloud environment it’s completely removed from prying eyes. And if you’re working on company time, accessing your work files remotely also means there’ll be no more sneaking off to play Candy Crush when deadlines are looming!
By moving your accounting system to the cloud, all of these benefits become achievable without sacrificing security and control over your records.
What is Cloud Computing?
Cloud computing is a method of storing and accessing data over the Internet instead of your computer hard drive or local area network.
How do I know if my business can benefit from cloud computing?
Small businesses that typically have less than 50 users are ideal candidates for cloud computing as they’re more likely to be using just one online accounting system
Are there any disadvantages in using cloud computing?
A few disadvantages with moving to the cloud include reliance on external infrastructure, increased latency due to geographical location, incompatible software, and limited storage space so you’ll need to do an accurate calculation before committing.
Conclusion by Aron Govil:
Cloud computing isn’t restricted to online cloud storage for music, photos and videos. The technology can also be used to securely store all of your business data, which can then be accessed from anywhere at any time via mobile or desktop. If you’re looking for an easier way to manage your business data without breaking the bank, moving your accounting system to the cloud is definitely worth considering!