5 Reasons Why You Need to Switch to Cloud Accounting

1. 5 Reasons Why You Need to Switch to Cloud Accounting Cloud accounting software is making your accounting processes easier and more straightforward than ever before. There are several reasons to make the switch to cloud accounting to save your staff time and save your company money. Here are the top five reasons. 1. Cloud accounting software automates your processes, reducing the risk of manual error and boosting data integrity. For years, accounting teams have been reliant on Microsoft Excel rather than specialized software built specifically for accounting. Microsoft Excel is manual formula based, which means if an error occurs, it can take an exorbitant amount of your staff’s time to find and correct the error. And, if the error isn’t caught, your data--the data you use to make important business decisions--is incorrect. Cloud solutions automate much of the process, thereby boosting your data integrity and minimizing the risk of error. 2. Cloud accounting software speeds up your period close. Because cloud accounting software is automated, the time it takes for your accounting staff to close is greatly reduced. Rather than crunching numbers manually, much of the process is performed by simple clicks of the button. And since the software is a central repository for your company data, you can always count on accuracy, providing unparalleled confidence to your period close. 3. Cloud accounting software can be accessed 24/7 from any device with an internet connection. Historically, software was installed locally, so if you weren’t in the office, you couldn’t access the information you needed. Now in the event of inclement weather, office closures, or travel, you can still access all you need from any device with an internet connection. This is because cloud software is web-based, and your administrator can set user permissions concordant with your staff’s needs. 4. Cloud accounting software amps up security. Cloud software is less prone to cyber attack or even local theft because it is not installed on local servers. Information is encrypted and stored in the cloud, boosting security and making your data less vulnerable than ever before. 5. Cloud accounting software helps your staff redirect their time to what matters most. Your accounting team is used to manual processes that take time and resources, but with automated cloud software, they can redirect their time to strategic and advisory services, rather than number crunching. This helps you make the most of your accounting staff’s time, and could even lead to workforce reduction, saving your company money or allowing you to redirect those dollars to investments.

2. FYIsoft can propel you towards the cloud FYIsoft provides cloud-based solutions that can help your company boost data integrity, reduce time spent on your period close, improve access, enhance security, and repurpose your staff time and even save money allocated for payroll. Schedule a brief demo with FYIsoft today to learn how cloud accounting can help your business succeed.