Cloud-based book-keeping is now a well established industry, and one that is constantly evolving as competitors vie for the number one spot in the market. Those who are early adopters by nature have already embraced it, and now the major providers are targeting the rest of the market.

As with all things new, it is easy to fear the unknown. Some of the common concerns about cloud computing are:

• Is my information secure?
• Do I have to invest effort to switch, and learn a new way of doing things?
• Do I actually benefit from changing to cloud-computing?

There are a number of well-publicised advantages that make cloud-based book-keeping very attractive:

• Anywhere anytime access – you can access your accounts from any PC, laptop etc in any location  that has internet access
• You can share access with your accountant or other adviser without having to hand them a copy of your file – you simply provide them with permission and a log-in ID. This also eliminates the version control issues that arise when making copies of your file
• The benefits of automation (eg: bank feeds) are easier to tap into with cloud-based computing

The other advantage, and perhaps the most significant one, is that users are guaranteed a product that will always improve in functionality. Cloud-based computing is the way of the future, which means the major accounting product providers are focussing their product development efforts in this technology. And competition between providers only serves to hasten the pace at which these products develop. Users also benefit from a different business model in cloud-computing that is far more collaborative – product developers work together on features that result in optional “add-ons” that clip into the core product. These options are designed to make your life easier: anything from saving you processing time to adding analytical sophistication to your numbers, ultimately keeping you better informed about your business.

We see now as being an ideal point in time in the financial year to review your day-to-day accounting product needs. If you are currently using desktop-based software and have not yet considered moving to a cloud-based solution, or you need some help overcoming concerns and understanding what cloud computing can do for you, contact us. We can help you.