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Cloud-Based Accounting + SME Benefits
Cloud-based accounting has all the benefits and everything an SME needs- flexibility, mobility, productivity. In 2020, we see first-hand the importance of keeping up with technology. Businesses who have already adopted cloud-based accounting will not find it difficult to continually provide real-time reporting or updating financial transactions. In other words, business as usual!
Here are the 5 Benefits of Cloud-Based Accounting:
1. Anywhere, Everywhere
Cloud-based accounting allows you to access your financial information from anywhere and everywhere. By receiving and providing data on-the-go, you can now make better decisions. In a few clicks, you can answer questions like “Have this customer paid me?”, “How much sales did we make today?”, “How much do I need to pay a supplier”.
In addition to that, before deciding on a cloud-based accounting system, find out if it is only a browser-based software or it has a mobile app. The smartphones we carry around with us every day is our true companion, so we need to leverage it properly in our business operations. Mobile apps are the way forward!
2. More time, more money
You can save your business a huge amount of time by having multiple users who can access and update data at the same time. Rather than waiting for information, updating it then returning it, cloud-accounting allows you to do that in an instant!
Traditionally, salespeople must travel to the office to submit paperwork like travel expenses. By freeing up the time spent on travelling, you are helping your employee focus on the tasks that matter, in this case- sales.
3. Work closely with your accountant
If you are outsourcing your accounting to an accountant, having a cloud-based accounting software gives you more visibility on your financial statements. You do not need to wait for the statements to be sent to your email, just get on the browser or app, and there you have it. Also, it gives you more control over your business, ensuring that transactions are done properly.
4. Fast reconciliation
This is where the true power of cloud-accounting is. Linking your bank accounts to your accounting software helps automate the bank reconciliation process. This process saves a lot of time and minimizes errors that can happen. Your accountant will thank you for this.
All businesses want to grow. If you have 2 employees today, you are looking at a future where your business needs 100 employees to operate. Many cloud accounting software allows you to upgrade your package once your accounting needs increase. But here is where we at Enterpryze takes pride in. In addition to adding the number of users, Enterpryze has more functions to help your business manage more complex functions. The additional features include:
- Client Relationship Management (CRM)
- Inventory Management
- Delivery Scheduling
- Advanced Procurement & Sales and more
Enterpryze ERP is designed for companies that manage inventory and needs more features than a standard accounting solution. It is designed for businesses to manage all their core process in one solution. If you’d like to understand more about the ERP package, feel free to speak to our customer support team.