Cloud Accounting – Accountants Fall Way Behind Their Clients

Posted by | April 24, 2015 |

You’ve obviously heard of cloud accounting – the question is are you on board or are you still skeptical?

In Australia, statistics show that nearly 50 percent of small businesses have at least considered a move to cloud accounting.

Another survey conducted in Australia and New Zealand reveals a mere 12 percent of cloud accounting participants in the accounting industry, completely disproportionate to the way your clients see things.

And a massive 64 percent of accountants who confess they aren’t planning to move to the cloud at least until after 2018.

Twenty-five percent of those surveyed plan to make a change to cloud accounting within the next five years.

Experts anticipate this number will grow as accounting firms and other small businesses realise and understand the benefits of cloud accounting.

With that in mind, let’s define cloud accounting and then explore the benefits for your firm.

Cloud computing simply allows you to store, access, and edit your data via a remote virtual environment instead of your office. The benefits of cloud accounting are many – for both your clients, your employees and your business.

Benefits of Cloud Accounting:

  • Your firm can serve your clients in any location
  • Your employees can work anytime you want from anywhere you want (mobility and flexibility)
  • Your employees can easily collaborate with one another and with clients subject to set parameters
  • Your firm can save money (reduced software and hardware costs)
  • Your security and backup procedures are improved
  • Your productivity improves as does the value your team provides to clients
  • You increase your business capacity

Since most small businesses want to improve client services, increase productivity and grow their business and profits – cloud accounting is worth a bit of investigation.

It is considered by the experts as an emerging technology that will impact all businesses in the future. Those who have made their move to the cloud feel they can do their work more effectively and efficiently in the cloud and drive their ongoing success.

And that’s certainly been our experience working with service firms around Sydney.

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