Whenever you use the Internet to access your bank accounts, you use the cloud platform that makes your data accessible online anytime, anywhere, and on any device. Traditional accounting software systems work on the desktop computer only. Therefore, if you need to have some data when you are out of your company’s office, for example, in the bank office, you need to copy essential data, for instance, on a USB drive that is not reliable and secure. On the other hand, cloud-based accounting software can be used from any desktop and mobile device with an Internet connection. So, you can connect to your financial data anytime, from anywhere, and on any device.
After detailed consideration of cloud accounting software's advantages and disadvantages, you can answer the question of whether your company is ready for cloud software. If the answer is positive, you go to the next stage and choose the cloud accounting software system offered by different providers.
Do not rush to make a purchase. Without any hesitation, some companies move quickly to web computing and do not think about the risks concerned with such thoughtless action. Choosing a cloud accounting provider is not easy, as it may look at first sight. You should consider some critical aspects before taking the “jump.”
a. Recognize how every provider you are considering guarantees the safety of your company's information.
b. Discover which security measures each potential vendor ensures: anti-virus detection, firewalls, data encryption, multi-factor user authentication, and routine security audits.
c. Consider the location of the data centers and servers where your company's accounting information will be stored.
d. Discover how every vendor of cloud accounting protects data centers from thieves and natural disasters such as fires, storms, floods, earthquakes, and others.
e. Ask each provider who from their employees will have access to your company's financial data in the cloud.
f. Elucidate whether the web software provider checks the background of his/her employees with the purpose to reveal the identity thieves and potential cyber criminals.
g. Ask online accounting software providers about compliance with government legislation, including specific requirements to your industry.
h. Discover the pricing scheme of every provider you are considering. Pricing for cloud accounting services can vary significantly.
i. Be convinced that potential software providers understand well your business industry and the specific objectives you expect to reach with the cloud accounting software.
j. Make sure that you will have access to your business information anytime from anywhere by using any device (desktop, laptop, tablet, or smartphone).
k.Investigate the customer support service provided by every potential vendor of cloud accounting software.
l. Be sure that the technical support is available online or by phone seven days a week (not excluding holidays), 24 hours a day.
m. Discover what additional storage capacity and other services can be offered over time, as your business grows, and for what price.
If you want to have an up-to-date picture of your business without worrying about the latest software version, cloud-based accounting software is the right solution for you. But, before making a purchase, you need to know what accounting software system your business needs and what additional features you want to be able to use precisely. Remember, the right choice of cloud accounting system will help your company reach greater efficiency.
The right cloud-based system will support accounting compliance according to constantly tracking entries and changes, reducing the chances of mistakes, and monitoring data to provide the accounting regulations are being met. At the same time, eliminating manual data entry and processing and always having access to real-time data allows companies to close books faster.
EZIBELINE LLC