The Benefits of Cloud-Based Accounting

At ControllershipPLUS we are pioneers in cloud-based accounting systems, and huge fans of it…

We started putting our clients “in the cloud” in late 1999. Back then we had a “little” server farm – run out of a walk-in safe with steel doors, and an ancient tumbler lock built in 1892.
Not exactly what I would call elegant, yet it served its purpose.

So, what is the big deal with cloud-based accounting, and what exactly are the benefits?

Cloud-based accounting has progressed dramatically from our humble beginnings in 1999. Today accounting software is built to run from an internet browser with an amazing array of cloud-based options available that do so much more than basic bookkeeping.

Also, today people are way more comfortable with the concept because they got used to doing their banking online, surfing the net, and shopping online.

Some people do, though, bring up two main arguments against cloud-based accounting:

First, security. They think that it is better to control their own data so no one else can hack into it. The truth is most businesses I have observed over the years (even those with millions in sales) do not have servers or computers sitting in an air-conditioned room with steel doors and 24/7 security. They do not have adequate password protection, nor testing of backups.

Secondly, reliance on the internet. If the web goes down, you can’t get online to do your books. Fair enough, yet most businesses are more dependent on power than the internet, and that often goes down even more often. (I worked seamlessly online recently in Africa for days without power. I used a battery powered mini high-speed modem and battery packs to keep my computer charged. Power was down, the net was up.)

On the other hand, the benefits are massive:
Cost savings! There is no need to buy and manage servers. Any old computer with decent high-speed internet will do
Better security – you can rely on the experts to keep your data safe in cutting-edge server facilities with redundant backups and massive security
Backups are done for you
Access your data anywhere, which is super convenient and efficient for remote workers, branch offices, field workers, and owners working from home
Vast array of add-on specialized software that is being built to give you solutions to your specialized needs in your unique industry
Incredible efficiency gains which means less time spent on accounting, and more accurate records. The gains are from capturing data at the point of source, in the field, from documents scanned in and processed electronically, and from banking software linking to your accounting software.

We work almost exclusively with QuickBooks, owned by Intuit, a $4.7 billion a year public company. They have the deep pockets to build some pretty impressive server systems for their cloud-based software. Their encryption levels and security is comparable to banking security.

At ControllershipPLUS, we are here to take the burden of accounting off your shoulders, increase accuracy in your books, and help you grow a more profitable business.