Cloud accounting has been around for quite a while now, but even still, the idea of taking our data to the cloud can be a little confronting for some. With these technological enhancements, there’s never been a better time to understand the opportunities to optimise and grow your business. If you’ve been meaning to brush up on the great benefits, this one’s for you.
1. Access anywhere, any time
With cloud accounting solutions, you don’t have to be tied to the one desktop computer (out the back of the store). For example, our web browser-based accounting solution, you can log in anywhere you’ve got a web browser. Or You can you can get the power of the desktop and convenience of the web; install Cloud Accounting (Xero/Odoo) on any desktop and sync up with your data from the internet.
You can even use your smartphone with Xero or Odoo to get the critical information you need on iOS and Android anywhere, anytime.
2. Centralised data
You will only ever have one data file. Unless your software automatically goes into read-only mode when you do a backup or copy the file, it’s fairly common for business owners to have more than one data file. What is the likelihood of data being entered on the wrong file when you have too many file, too many documents?
3. Easy, secure sharing
You can share the data with as many others as you like, whether it’s your accountant, your bookkeeper, your business coach or even your bank manager. No longer is it necessary to email selected reports or the data file or — even less convenient — backing up the file and delivering or sending it to whoever needs the data.
4. Managed backups
You’ll never have to back up your data file again. It’s always a surprise to me how many business owners do not back up their data — or think they have backed up their data but haven’t — only to lose weeks or months worth of work. Just think of the time you’ll save not messing around with the actual backups.
5. Customized to your business
It’s difficult to find a traditional accounting system that delivers everything your business needs. Cloud-based accounting solutions like Odoo allow you to integrate add-ons to be a part of your entire ecosystem. This allows you to customize your accounting solution so you have access to your invoices, sales, and customer engagement needs, all in one place.