Xero in on the benefits your business can enjoy with cloud accounting software - Part 2



Welcome back to our second edition of Xero in on the benefits your business can enjoy with cloud accounting software.

In this blog, i want to talk briefly on why cloud accounting software makes perfect sense for your business. This is not a junky sales commercial but an important business strategy that you should seriously consider to implement into your business. In the last blog, i shared with you some interesting statistics about business entrepreneurs transferring their accounting software to the cloud. If you would like to see those statistics again, please click the link.

Let us take a moment to understand the problems that business entrepreneurs face with traditional accounting software.


  • The data in the system isn’t up to date and neither is the software.
  • It only works on one computer and data bounces from place to place. If you have multiple users, the system can be very slow with error messages occurring
  • Only one person has user access. Key people can't access financial and customer details.
  • It's costly and complicated to keep backups.
  • It's expensive, difficult and time consuming to upgrade the software.
  • Customer support is expensive and slow.

You can use cloud-based software from any device and anywhere in the world providing that there is an internet connection. Online accounting means small business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

Here are five ways cloud software will benefit your business (source: Xero):


  1. You have a clear overview of your current financial position, in real-time.
  2. Multi-user access makes it easy to collaborate online with your team and advisors.
  3. Automatic updates mean you can spend more time doing what you love.
  4. Everything is run online, so there’s nothing to install and everything is backed up automatically. Updates are free and instantly available.
  5. Upfront business costs are reduced – version upgrades, maintenance, system administration costs and server failures are no longer issues. Instead, they are managed by the cloud service provider.

I suggest watching a couple of videos that will start to give you some comfort on how easy cloud accounting software can be for your business.


Over the coming weeks, I shall be preparing more videos to show you the simplicity of using Xero and how you can implement Xero into your business. In the meantime, please visit our website - http://wealthvisionacadem.wixsite.com/xero

Cheers,
Peter

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