When you’re starting your business, traditional accounting software may be all you need to balance your books. As your business grows, though, you may find cloud-based accounting software more appealing.
Traditional accounting software often comes in a shiny package, but consider these facts about it before deciding to use it in favor of the cloud:
- The licenses are usually expensive.
- You may need costly new hardware to use software upgrades.
- The software may be limited to on-premises use.
- You may need IT personnel to maintain accounting software and hardware, including a server.
- The potential for errors is high due to manual data entry.
Sure, you may like the familiarity of traditional accounting software but if you plan on growing your customer base and workforce, a cloud accounting solution may be better.
Since cloud-based accounting software lives on the internet, you don’t need to invest in IT personnel or infrastructure. The cloud software provider handles all the messy details, including upgrades; you just need to remember a username and password. Even better, your accounting staff can access cloud accounting software from any place with an internet connection and from any device, including a smartphone, laptop or desktop. Plus, you can integrate your entire office system from invoicing to your point-of-sale units with your cloud accounting software product of choice, removing the need for manual data entry and all the costly errors that come with it.
With all the money you save from cloud accounting software, you can focus on what really matters: growing your business.