With the ongoing uncertainty around the pandemic and local lockdowns, the impact on some businesses has been devastating. Whilst some sectors have continued to thrive, others are still facing negative effects as a result of lost revenue, income, and customers. Due to this, the pandemic and remote working has led many businesses to examine their financial position, which can prove to be a long and stressful process through traditional accounting solutions.
With Cloud Accounting Software, however, businesses have a straight-forward understanding of their current finances and can examine the effect of the pandemic on overall business sooner. Cloud Accounting has enabled many businesses to improve on their overall financial stability throughout the pandemic, by having a clear understanding of the whole business, from customers to teams, projects, and services.
With the increase of teams working remotely, many organisations began looking at cloud solutions and embarked on a digital and financial transformation process. According to Synergy Research, Enterprise spending on cloud infrastructure services reached $65 billion in the third quarter of 2020, up 28% from the third quarter of 2019. As more businesses looked to increase efficiency, cloud accounting has helped many businesses to streamline their processes by providing up-to-date, accurate data. This has equipped teams with information that has enabled them to react to changes caused by the pandemic sooner, providing businesses with a scalable solution.
UNLEASH THE BENEFITS OF CLOUD ACCOUNTING
Many organisations have unleashed the benefits of cloud accounting throughout the pandemic, and with teams working remotely for the foreseeable there has never been a more adequate time to review implementing a cloud solution for your business. So, what are the key benefits that cloud solutions can offer throughout the pandemic and beyond?
In comparison to desktop accounting solutions, cloud accounting software can be accessed quickly and easily on any device and from any location. Remote teams are equipped with a solution that allows them to access real-live information, enhancing productivity and profitability for the whole business.
The pandemic has saw a large increase in cyber-attacks on businesses, demonstrating the importance of high-level security on your accounts. Cloud accounting software offers the most sophisticated digital security possible, including data encryption, password protection, multi-factor authentication and data backups. Avoid down-time from data corruption with powerful, protected cloud solutions.
Cloud accounting enables teams to access strategic insights. Providing customised dashboards to track critical business metrics in real-time, with powerful multi-dimensional reports being produced in minutes to identify trends and help drive business improvements.
ION has provided scalable cloud solutions to 100s of business, supporting organisations throughout this challenging time. ION believes in the power of financial transformation, transitioning businesses from cumbersome, on-premises, legacy solutions to intelligent cloud-accounting business solutions which enhance productivity and profitability for the whole business. As a team of independent specialists, we work with your team to understand your challenges and identify the best cloud accounting solution for your business.
Contact our team today to discuss how we can unleash the benefits of cloud accounting for you.