Why You Should Move Your Accounting to the Cloud


Why You Should Move Your Accounting to the Cloud

Most businesses limit the scope of accounting to filing tax returns. Just think of it. What good are sales numbers if they are not correlated with revenue? To get the most out of your business, you need to connect your accounting systems with:

  • Operational management systems like inventory and job or project control
  • CRM activities such as sales and marketing

Are you wondering how to connect your current accounting systems with these complex processes? Do you feel it is impossible to achieve this through your current accounting systems? If your answer is “yes,” then you have an under powered accounting system. Do not let this leave a dent on the quality of your work and take you out of the equation in today’s business environment. You can play at the same level as big businesses regardless of your organization’s size. All you need is an effective cloud solution.

Go global with cloud accounting

In today’s interconnected world, if you are catering to a small group of customers in your local area, you are limiting yourself. The advent of Internet and cloud computing has made reaching out to millions all over the world a feasible possibility. Integrating your business processes with cloud-based software enables seamless work and collaborations beyond boundaries. A good integrative cloud accounting software will keep you in compliance with international laws and let you concentrate on growing your customer base.

Consolidate as you expand with cloud-based solutions

Keeping tabs on your team can prove to be quite a task as you grow rapidly. You need to consolidate to enable the collaboration of:

  • Sales team
  • Operations team
  • Finance team and
  • Leadership team

You need to be in the know-how of what is going on in the business at any given point. With data-on-demand, efficient cloud-based accounting systems give you such information on the go. So, no matter where you are, with cloud accounting, you are always on top of things.

Cloud-based solutions break all barriers

Are you a business headquartered in New York and operates from Asia? If this proves to be a barrier, it is not when you are on the cloud. Cloud-based solutions cut through time zones and geography. Business information flow is beyond such limiting factors on the cloud. It lets you communicate to your staff and hold meetings from any part of the globe. You literally would have a virtual office in your headquarter through the cloud.

Create a full business integration

Moving to the cloud is not just about upgrading your accounting systems but about creating a whole new echo system where every process of your business is integrated. It makes communication and control easy and effective. It also reduces wasteful expenses incurred on travel, communication, and data collection. With cloud accounting, you would have a firm grip on your business at any given point.

Thivaharan Thuraiappah

Principal | Xero Certified Advisor | Xero Add-ons Consultant at LALI Business Consulting Pty Ltd

Founder of LALI Business Consulting a trusted Cloud business solutions practice, offering a wide range of cloud software solutions and accounting services to businesses of all sizes.

Comments (1)
Ling Lee

Ling Lee at Digital Marketing and Personal Branding

Does cloud accounting have a management accounting function?