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February 1, 2017
Accountancy is moving to the cloud. Why? More accounting firms are seeing the advantages of better flexibility and client satisfaction through the cloud.
Cloud service providers have proven their wares, and the accounting industry is aware that data security is better. There is no doubt that moving your firm into the cloud is a good decision. In fact, it is becoming a must for CPA firms to stay competitive with other organizations.
The flexibility of the cloud allows cloud service providers to create a very specific profile that is unique to your firm.
What is Cloud Accountancy
The cloud is all around us. It is in our phones, tablets, TVs, appliances, cars, etc. Since it is everywhere, it allows CPAs to be anywhere and access all the data they need to perform their jobs efficiently and quickly. If you find yourself at a hotel, at home, stuck at the airport, or on a bus, your client data is there with you. There are several software packets you can purchase to link your computer with your work. This makes accountancy an on-the-go prospect.
Clients can access the firm’s network to find out about updates, or – if you choose – they can do a face-to-face with an agent regardless of where they are located. This saves the client time and makes it easier to contact your staff. Which means it is easier when determining billable hours.
Accountancy, the Cloud, Revenue
Any time we look at changes we have to decide if it is worth the cost. Yes, of course, we assume that the initial cost is probably high, but it will all work out in the end. Managed service providers usually offer a monthly or yearly subscription to the cloud service. This way there is not a high initial cost and the firm can see from the get go what they are looking at in way of costs. Besides that, there are other cost advantages:
• Locate problems – The cloud provider will know when things are not right, sometimes before you do. A simple call and they will fix it. In most cases, the cloud provider can perform the fix right from their own terminals.
• Client Efficiency – As stated before, making your firm easily accessible to the community means it is easier for clients to contact you. They will be less hesitant to contact the firm. This equates into the possibility of more billable hours.
• Less Staff – As your small firm continues to grow, there will be the need for more IT, HR, front desk personnel, etc. When in the cloud, many of these positions are not needed. The software can keep up with the pace, but if you need more physical personnel the cloud provider will be ready to accommodate your new employees.
• Try without buying – One of the biggest advantages is the flexibility. As IT needs change your managed service provider can meet those needs.
Accountancy in the cloud is not new. This is the perfect time to get your company into the cloud. There are now several companies that make software specific to accounting firms.
Enterprise licensing can be purchased at a lower cost.
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