4 Benefits of Cloud Accounting for Your Business
As we move further
into the digital age, more and more of modern business is conducted online.
More specifically, a lot of it is based in the cloud. With powerful, innovative
software like Xero, that even includes accounting.
But what benefits does
that have for your business? Read on as we look at four advantages.
What is cloud
Cloud accounting means
using accounting software that’s based in the cloud. Not literally, of course.
In short, cloud storage refers to storing data on external servers, rather than
an individual computer or in-house server. That means you can access that data
from multiple devices in any location with an internet connection.
Some of the most
popular examples of cloud storage are platforms like Dropbox, OneDrive and
Google Drive, which allow you to store files online rather than on your
computer. Cloud accounting software is like that, but for your company’s
finances. Here are some of the benefits for your business…
you check on your company’s accounts? Get in touch with your accountant? Log
onto a specific computer at the office? With cloud accounting software, you can
access accounting information at any time, from any location on any device.
That gives you constant access to your company’s financial information whether
you’re working from home, away on a business trip or just on your morning
can be accessed by a number of authorised accounts, making collaboration a
doddle. Real-time financial information can be shared among colleagues and
advisers, so you’re all on the same wavelength when it comes to reviewing
performance or making key decisions.
everything is stored externally, there’s nothing stopping you scaling up your
operation. You’ll never have to delete historic data to save storage space or
fork out on expensive new servers to store everything you need. Best of all,
it’s quick and easy to add new users, so you can give access to as many people
as your business requires.
One of the biggest concerns when people move to the cloud is security.
But it’s actually a lot more secure than conventional accounting. If your data
is stored on a single computer or in-house server, it could be lost if they are
stolen or damaged.
With external servers used for cloud accounting software, you benefit
from enterprise-grade security. Xero’s servers, for instance, are located in
high-security hosting facilities with robust physical security, including 24/7
surveillance, on-site security staff and regular audits.
is fully encrypted using Transport Layer Security, so you can rest assured
nobody will have unauthorised access to important business information. As for
back-up, the data is replicated across data centres in multiple locations.
Translation? There’s no chance your data will be lost or unavailable.
Reap the rewards of
innovative cloud accounting
Ready to add the power of cloud accounting to your business? UWM
Accountants is a team of expert cloud accountants in Leeds that can help you do exactly that. We’re Xero Gold Partners, meaning we
have advanced expertise in award-winning cloud accounting software. Want to
find out more? Give our team a call on 0113 231 0202.