Why you should manage your books in the cloud blog image

Why you should manage your books in the cloud

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Want to manage your books in the cloud? A growing number of businesses have done so. This is because they understand the advantages, like better mobility and a much easier partnership with their customers. These things are essential when a small business owner is striving to establish a successful business that can continually prosper.

Many business owners strongly believe that the cloud is the future. Nonetheless, pretty much everyone also agrees that there is no certain ‘best practice’ guideline for transferring a business and its customers to the cloud.

It may be difficult for some businesses to shift from the traditional accounting and bookkeeping methods to turning into a modern business that experiences the productivity-boosting advantages of the cloud. Not only would you move your software and customers to an online environment, but you’re also transforming the way you work and interact with those customers.

What is the cloud anyway?

Whether or not you realise it, you’re most likely using cloud technology on a daily basis, such as using Dropbox to share files or utilising online software like Microsoft Office 365. Any type of system that allows you to connect to your data remotely is a type of cloud system.

Cloud bookkeeping and accounting software like Xero function in the same way. You are able to use it the same as normal accounting software. However, the difference is the data of your clients’ accounts are not saved on your computer, where it may be lost, stolen or unintentionally erased. Rather, the data is saved remotely on protected servers.

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So as long as you have an internet connection, you are able to access your clients’ data from anywhere and at any time using a laptop, smartphone, or tablet. This also means that your IT expenses will be reduced because you will always have the most up-to-date and the most secure version of the software.

The cloud can boost your revenue

Since the cloud allows you to manage your books and clients more simply, efficiently, and at low costs, you and your staff can spend more time on other highly profitable projects such as expanding the business. The cloud will cut the time spent on managing your books which in turn will allow you and your employees to handle more customers using the same number of people.

If you need assistance on how to manage your books in the cloud, contact a Chan & Naylor business accountant here today.
Phillip Efthimiou Chan & Naylor Director in Hawthorn

Aside from cloud bookkeeping assistance, have a look at our other accounting and advisory services that we do to help you achieve greater financial success.

If you like this post, “Why you should manage your books in the cloud”, subscribe to our newsletter and stay in touch with us on our main Facebook page, the Hawthorn Facebook page, as well as our Linkedin, Instagram, and Twitter pages.

The Chan & Naylor Group has national offices in North Sydney, South West Sydney, Sydney, Pymble and Parramatta in New South Wales, Melbourne, Moonee Ponds and Hawthorn in Victoria, Brisbane and Capalaba in Queensland, and East Perth in Western Australia that can help you move your books to the cloud. Contact us today.

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