The Cloud and Bookkeeping: Why Make The Transition (And How)? -our accounting and bookkeeping business serves several crucial roles for your customers. Many businesses do not have extensive in-house... -
our accounting and bookkeeping business serves several crucial roles for your customers. Many businesses do not have extensive in-house financial operations, and even larger enterprises prefer to outsource much of their accounting, bookkeeping, and payroll needs to specialist practices.
But that same reasoning also limits what accounting houses can offer. To remain competitive, you have to do more with less. If you aim to grow your revenue, you need to offer more services: continual payroll management, regular reporting, flagging suspicious activities, and integrating more closely with your customers’ systems are all opportunities waiting in the wings.
Cloud software turns all this on its ear. You never have to own the software through a licence or deploy costly hardware to run it: the software provider takes care of that, and you pay a minimal subscription fee to access the services. Since cloud software is intrinsically designed for integration and access across an internet connection, you and your clients can reach it on any device and from any location.
Not only could it hamper your established practices, but you may still have other costs, such as licences for your incumbent software. You require training and guidance for your people, not to mention your clients who might use self-service features to manage some areas or contribute information towards processing. You’re not a technologist – while cloud software sounds great, it also seems like a lot to take on.
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