Locally hosted technology has less appeal to organizations as widespread high-speed internet access, the need for mobility and smart devices have given rise to cloud computing. As the benefits of cloud accounting are realized by more companies, one thing is clear: the cloud has changed the way business operates.
Whether you know it or not, you’re already reaping the benefits of the cloud with our expectation of on-the-go cloud accessibility fundamentally changing the way we store and access the data of our personal and professional lives.
Yet, even as the dawn of cloud accounting shines new light on how we live our lives and how we do business, some organizations hold steadfast to the way things have always been done.
Businesses already operating in the cloud understand low-maintenance. Rather than locally installing and maintaining software packages and locally hosting the associated data, this process is securely sourced to external providers.
With cloud ERP, your company no longer needs to maintain an entire IT department or expensive servers to host and access your business data. Software purchases for installation on every workstation are a thing of the past with cloud ERP’s accessibility via user dashboards from virtually anywhere on the planet.
It’s ready and available when you need it and, for better or worse, has intertwined our personal and professional lives. Perhaps it’s what’s made the cloud so wildly popular if you consider how wildly popular cloud services like Gmail, Dropbox, Apple Music and the like are.
Why then, has your shift to the cloud been so gradual?
Change is hard, but in this case extremely worth it for almost all businesses. The two biggest reasons to make the change to cloud accounting are the cost savings and increased business agility.
Cost savings – Because your software and data are digitally outsourced, the funds your company would use to maintain these systems largely remain in your pockets. Of course, paying for cloud services like file storage and software options like a cloud ERP system isn’t free, but the costs of these options are typically offset by the savings you see by not having to maintain servers or keep in-house IT staff on hand at all times.
Business agility – Modern business isn’t done from behind the desk between the hours of 9 am to 5 pm anymore. Businesses need to be able to respond to client and/or personnel needs at all times and from any location.
With locally hosted data and software, though, this kind of agility is made considerably harder. Locally hosted accounting software, for instance, requires that members of the accounting team to be onsite to perform tasks like generating financial reports.
With cloud ERP, on the other hand, generating financial reports—as with any other task, such as inputting new financial data—can be performed from any place and at any time to keep operational data up to date in real-time.
These general benefits filter down to all aspects of your organization. Some businesses have gone so far as to move their entire operation to the cloud, removing the need for a brick and mortar facility altogether and saving considerably on facilities and associated personnel costs.
Not all businesses can realistically make such a radical change, but the opportunities presented by adapting to cloud computing are greater than most realize. The more processes you move to the cloud, the more your business stands to save money while operating more efficiently.
Of course, the early adopters of cloud ERP have found themselves with an advantage now that everyone else is starting to catch up. Changing the way you operate comes with some growing pains, but it’s wise to endure these before the mass-market shift.
Voted #1 Accounting Software Product in Customer Satisfaction by G2 Crowd, Sage Intacct is built for finance professionals by finance experts. Through automation of your core financial processes with advanced functionality and accessibility in the cloud, you get everything you need to increase productivity and make timely decisions to drive your business forward.
The sooner your business adapts to the new normal, the further out ahead of your competition you’ll find yourself.
As a Sage Intacct Partner, e2b teknologies is a best-in-class provider to move your business to the cloud. Find out more about how e2b and Sage Intacct can transform your business.