Cloud computing, or cloud software, has become of the key trends in IT and business over the last couple of years. Cloud computing has been around for a while but with decent internet access now available nearly everywhere in the UK it is starting to come into its own. The basic principle is simple. Rather than buying expensive software, installing it on your computer and then having to back it up and update it regularly you simply pay a small fee to connect to a central server. The company providing the software will make sure it is up to date and backed up properly and you don’t need to install anything on your PC. This makes the whole process much easier.
One of the areas where we have seen a real benefit for new businesses is cloud based accountancy software. Traditional accountancy and bookkeeping software that you could install on your PC ran into hundreds of pounds. The new cloud-based programs, such as Sage One, run from a standard internet browser and cost £10 per month. However, the cost savings are not just in the cost of the software.
Most new businesses used to start out by recording their sales and expenses on an Excel spreadsheet. This works OK but it is relatively hard to run reports based on the Excel figures. Software such as Sage One allows you instantly see who owes you money and email them statements and invoices at the click of a button. This means you can easily stay on top of your cashflow and make sure your business is not losing money.
Most cloud based accountancy software also allows you to give you accountant access to your figures. They can log in to your accounts from their office and check what you are doing. In most cases they will be able to correct mistakes or, if necessary, download your numbers into their own software to prepare the end of year accounts. This saves a lot of time and has the potential to massively reduce your accountancy bills.
There are lots of benefits to using cloud-based software but the top 5 are:
Author – Michael Summers