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Reasons to Adopt Cloud Accounting in 2014

REASONS TO ADOPT CLOUD ACCOUNTING IN 2014 A large number of businesses have chosen to embrace cloud accounting in recent years. Business management software and service supplier Sage looks at the reasons behind the adoption of this technology and why more businesses are looking to take on cloud accounting in 2014. Client satisfaction 92% of businesses are completely satisfied with their cloud-based services. Cost reductions and financial savings are seen as the main advantages of cloud accounting. 33% of companies see having to purchase fewer infrastructures as the major benefit, Followed by initial cost savings, reduced infrastructure configuration and lower cost of ownership. Challenges of cloud accounting 46% of SMES feel that a lack of knowledge has stopped them from adopting cloud-based services, followed by security and privacy worries and issues with connectivity and reliability. A number of businesses have chosen not to adopt cloud accounting in 2013 for the following reasons: Lack of Security & privacy concerns Connectivity or access & reliability knowledge 76% of businesses who use cloud services plan to increase their usage in 2014. Top 5 reasons to embrace cloud accounting in 2014 Access anywhere at any time Everything from account balances to outstanding invoices can be accessed securely 24 hours, 7 days a week from any web based device, with no need for a traditional accounting system loaded on a single PC. Reduction and spread in costs Cloud accounting software can be installed for free and paid for monthly, with no extra costs for upgrades. You also only have to pay for what you use, making it a popular choice for start-ups and SMES. Increased security All data is stored on the cloud. This is continually backed up, so you never have to worry about losing data or performing regular backups. Improved data accuracy The software can pinpoint errors and download real-time data, removing the need for data entry processes which can be time-consuming, prone to error and expensive. Easy and instant communication with your accountant YOU ACCOUNTANT Being able to share data and work on accounts at the same time as your accountant can lead to better communication and improved business decisions. Sources abes Copyright © 2013 Sage

Reasons to Adopt Cloud Accounting in 2014

shared by SageExchange on Nov 26
An infographic from Sage Exchange on the benefits of using cloud accounting software and how businesses will improve from adopting it in 2014.


Sage Exchange


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