Cloud accounting is on its way to conquer the whole world and bring the needed change in the accounting system. There is a huge shift towards cloud accounting and it can be seen through the various reports and surveys available on the internet.
According to a survey conducted by Sage software, 43% of the people think that soon there will be a major shift rather than happening later. This is a very big chunk of people who are expecting the cloud accounting solutions like QuickBooks cloud hosting, to dominate the world of accounting.
There was another survey which revealed that most of the accountants are now willing to invest in accounting software and the cloud technology as now they are understanding the importance of cloud and how it can act as a blessing for their firm.
Why are businesses migrating to the cloud?
Most of the accounting firms are now realizing that they need to match their pace with time and meet the versatile needs of their clients in this technology-driven market. There is also pressure on the accounting firms to be ahead of their competitors and one of the best ways to do that is early adoption of the most updated technology.
Both of these things can be easily achieved through cloud accounting solutions like QuickBooks cloud hosting, regardless of the size of the company and their budget. Ease of access, enhanced security, multi-user access and backup facility are some of the points of attractions for accounting firms and SMEs.
What are the benefits of cloud accounting?
Ease of access – Cloud accounting solution makes accessibility very flexible as you can use your software and access your data from anywhere and at any time.
Backup– You also get a backup facility with cloud accounting solution and it helps you to fight against both man-made and natural disasters.
Pocket-friendly– Cloud accounting solutions are very cheap and you can easily afford it with even limited budget. Therefore don’t worry about your budget while planning to migrate from desktop to cloud.
Better security– With your financial data on the cloud, you will not have to worry about its security and safety as the cloud platform is the most secure platform for your important financial data.
Technical support– Without paying any extra price, you get round the clock customer support from your cloud hosting provider. This solves the IT hurdle which might disrupt the continuity of your business.
How will the future of cloud accounting look like?
Many people are thinking that the AI, machine learning and cloud technology will become a threat to the accountant’s job as soon everything will become automated and lay off in the accounting industry will become a new normal for the whole world.
But you need to understand that these advancements in technology will only enhance the working of humans and looking at the current technology used in accounting, the accounting system becoming fully automated doesn’t look to become real in even the near future.