Collaborative Cloud Accounting Saves Small Businesses Money

Cloud Accounting
Cloud software and cloud collaboration are more than mere buzzwords. The benefits of cloud applications are their efficiency, anywhere anytime access, and cost savings. Collaboration with web-based software increases a business’s effectiveness, allowing small businesses to share tasks, delegate and work anywhere. Studies suggest that early adopters of cloud applications are already experiencing the benefits and increasing profit as a result.

Cloud Collaboration. What’s Old is New Again

Bricks-and-mortar businesses understand collaboration, team work and delegation. These basics of operational efficiency haven’t changed. They help businesses run optimally, save time, work smarter, save money, and, with a little luck, increase profit. What is new to many small businesses is the idea of cloud collaboration.

While cloud applications are not new anymore, many small businesses are slow to adopt cloud-based accounting products.

Late Adopters Are Missing Opportunities to Earn More Money reported that consumers are slower to adopt cloud-based accounting solutions for some often unfounded fears. Amongst these fears are “security, cost and training”. Sleeter Group – a company that educates consumers about accounting best practices and technology, said this to SoftwareAdvice about cloud accounting security:

cloud-based accounting solutions are generally more secure than on-premise solutions. That’s because the software vendors dedicate significant resources to protect against Internet hacks, virus attacks, malware and other security breaches – SoftwareAdvice.

A Tech Republic article cited a study by Exact and Pb7 research that found businesses who have moved to the cloud are experiencing  rewards in the form of growth and profit.

small businesses that have made the move to the cloud doubled their profits and achieved 25% additional revenue growth compared to their cloudless contemporaries” – Tech Republic.

Tech Republic reported that when Exact, Pb7 study respondents were asked why they chose to implement cloud software, the top five responses were:

  • Security
  • Lower IT costs
  • Low maintenance
  • Mobile access
  • Increased productivity and efficiency for end-users small business tip #072Increase Efficiency with Cloud Accounting Software

The greatest benefit of cloud accounting is its efficiency. If you are still using software that is downloaded and installed on one computer, for one person to use (frequently your small business’s bookkeeper), you are missing the opportunities that cloud applications provide. You may also experience the headaches often associated with desktop software products: system incompatibilities; updates; costly annual subscriptions and sometimes annual upgrade costs; complete responsibility for system security; system-resource hogging or slowness; and IT costs.

When you use all-in-one cloud accounting software like Flare, the benefits are numerous: there is no software to download; no updates to install; few system incompatibilities (the app runs in any modern browser on desktop, laptop or tablet); no resource-heavy processes slowing your computer or other programs down; affordable pricing; no annual upgrade fees; system security is not your responsibility (other than password security practices); more than one person can access the application simultaneously from anywhere;  and, you can collaborate with others. small business tip #073Delegate or Share Tasks with Cloud Collaboration

The benefit of Flare’s cloud collaboration is the ability to delegate or share tasks. With Flare, you can invite business partners, bookkeepers and accountants, sales staff and others to share the work of managing your business’s finances. You can grant full privileges to an accountant or limited privileges to sales staff. By delegating tasks, your operation becomes more efficient.

Get small business tips FREE! small business tip #074Use Cloud Accounting Software that Does Much More than Bookkeeping

If you don’t use all-in-one, collaborative cloud accounting and finance software, you may use several desktop applications.  By using a cloud-based small business finance system like Flare, your business accomplishes more, more easily. Yes, Flare does bookkeeping, but it does so much more! With Flare, you get accounting, invoicing, expense tracking, budgeting, financial performance metrics, financial reports, and anytime/anywhere access. Imagine the cost and inconvenience of installing several desktop applications to help you perform all of those tasks.

Is Cloud Accounting Right for My Small Business?

It’s easy to find out whether cloud accounting works for your business. Sign up for notification of Flare’s release, then try Flare and see for yourself.

Get a preview of some of Flare’s features:

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