While businesses have long preferred to install accounting software right on the desktop or run a client-server software configuration, cloud based software is an alternative model that is gaining attention. Before switching your business from traditional accounting software to cloud based accounting software, there are several points that you should keep in mind.
Limitations of Your Budget
Cloud based software is more affordable for small businesses than client-server software configurations. It does not require upfront investments in server hardware, user licenses, maintenance agreements and system administration costs. A traditional desktop installation may not cost as much as client-server, but it raises several issues that have both budgetary and security impact: How will desktop backups be handled and stored? What if someone else needs access to the software? Is there a contingency plan in the event that a hardware failure occurs? All of these concerns put the business at a financial and security risk, and all of them can be mitigated by using cloud based accounting software.
Additionally, because cloud based software makes it easier for a business to go paperless, or to minimize use of hard copy paperwork at the very least, it can also result in cost savings on ink and paper.
Flexibility of Your Operations
Cloud based software offers greater flexibility for small businesses, especially those with staff who travel frequently. With cloud based software, users can be granted access to data at varying levels, regardless of whether they are in front of their desktop, traveling with their laptop or even have only a smartphone or tablet at hand. All they need to connect to the business accounting system is an internet connection.
This level of flexibility can even translate into increased productivity and profits for the business. Because staff has the freedom to access the cloud based accounting system anywhere and at any time, work does not have to be put on hold until they are back in the office.
Security of Your Data
While it may seem counterintuitive to think of the cloud as being more secure than a server under the same roof as your business, cloud based software providers are held to a much higher standard of security than a server farm or data center. This means that data is safe and secure regardless of what catastrophes may strike the physical business location. Emergency preparedness is no longer a factor where it comes to equipment and data, which can also help the business realize cost savings.
If budget limitations, work flexibility and data security are all primary concerns for your business, cloud based accounting software may be a choice worth considering. For more business advice and tips, contact Express Capital Financing at 718-285-0806.