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The benefits of Cloud accounting and information systems for Australian small business

Businesses worldwide are moving more and more of their business life to cloud based storage systems. Australian small businesses have been a bit slow to embrace the change but we are on the verge of an explosion in growth.

Who’s afraid of clouds?
Cloud computing simply means having the program and data stored off site. So most people already use cloud computing each day and don’t even know it. Some examples are: Internet banking, gmail, Hotmail, facebook and many other applications where your information is stored on a remote drive and not on your own computer. With internet speeds increasing all the time and many people having constant internet access via mobile devices, cloud computing makes more sense for ease of information retrieval. Many cloud solutions are quite cost effective as often there is no need for an upfront payment, just an ongoing use fee. This also allows growing businesses to add licences for new staff as the need arises. Also having the ability to still access all of your data in the event of a hard drive failure or computer theft gives business owners a level of comfort which cannot be overstated.

Cloud Accounting Software
Cloud accounting programs are giving business owners and their accountants benefits which were not available beforehand. These include ease of access to your financials from wherever you are, as they are browser based. So any computer with an internet connection can be used to log in. If the owner needs their accountant to check something, the accountant has instant access to the file which is right up to date. No more backups and e-mails or exchange of usb storage devices. Another benefit is that the software is always the most recent version as it is updated by the software provider. So when the tax rates are updated, there is no need for a software update as it is done in the cloud. There are various cloud accounting packages available such as Myob LiveAccounts, Xero and Quickbooks Hosted.

Other Cloud Programs
For small businesses prepared to embrace the cloud there are many advantages to be gained over their competitors. Programs such as Dropbox, Evernote and Godaddy offer cloud storage for files of all types. Many of these companies allow searching of documents across your database. For businesses who need to quickly access their documents, there can be major efficiency improvements. Businesses that have mobile workforces can easily arm there staff with every document they may need wherever they go.

We can help your transition to the cloud
Elevated Accounting can help make your transition to the cloud a smooth one. We have successfully assisted many of our clients with their cloud accounting setups. We can also help to increase your bottom line by implementation of an innovative strategy. Contact us to discuss how we can assist your business’s leap in to the cloud.