3 Reasons Your Small Business Should Be Using the Cloud

2014 has undoubtedly been the year of the cloud.

With many aspects of accounting now streamlined through the use of cloud-based accounting software, programs such as Xero and Quickbooks are fast becoming the norm in businesses and accounting firms the world over.

So, as a recent article explains, by choosing to ignore the cloud, you’re almost certainly limiting the potential of your small business.

Here we outline just some of the reasons why you should be using the cloud to keep track of your small business’s finances.

Added security

By opting to use more traditional software, i.e., one that is installed on your hard drive, you’re relying on that computer to not fail. A fine idea in theory. After all, you paid what you certainly felt to be an extortionate amount of money for that state of the art laptop. Why would anything go wrong with it?

But, as we all know, computers do fail. Frequently.

Hardware becomes worn, processors cease functioning, and even state of the art computers are not immune to theft or damage. So if, for whatever reason, you find yourself suddenly without your computer, the chances are that you won’t be able to access your accounts, or worse, someone else will.

Fortunately, these problems can all be avoided by utilising the cloud.

By keeping your files stored securely online, behind a labyrinth of firewall programs and other trusted cloud-based security measures, your business is always protected from any possible problems that may befall it.

Despite all the recent talk of cloud security, your accounts will be much safer online.

Value for money

The smallest businesses often have the loftiest ambitions. Although your operation may currently consist of just yourself and a couple of employees, your intention will almost certainly be to grow your business in line with your revenue.

But for right now, you need to be making sure that every facet of your business is as cash-efficient as possible. You want to be paying for the services that you need, and those only. There is little point in paying for costly, feature-laden accounting software designed for larger corporations if your business is still on the smaller side of the entrepreneurial scale. What’s the use of having a payroll function if you’re the only employee?

By opting to go with an accounting system which is cloud based you can expand the functionality of your accounting software as your business grows. By making sure that you never pay for a service that isn’t critical to the operation of your business, the cloud can keep your operation as profitable as possible. Giving you license to grow your business as your revenue changes.

The cloud is always up to date

We’ve all been there: you’ve spent what feels like forever updating your spreadsheets, readying them for submission to your accountant only to have your computer crash just before you hit the ‘save changes’ button.

But by choosing to move your accounting to a cloud based system, this all-too-common problem can be easily bypassed.

When working in the cloud, both you and your accountant have access to the most current version of the document you need. Any changes are made and saved in real time, so if the worst should happen to your computer, the same document will be accessible from any machine with a functioning internet connection. With software available for mobile devices such as smartphones and tablets, the latest version of your financial accounts will be accessible to you and your accountant anywhere, any time.

And with the latest version of the software always available, without the need to download any sizeable updates to your necessary device, utilising the cloud for your accounting needs is an opportunity that you really need to be making the most of.