Every small business is striving to improve efficiency, boost profits and have more collaboration with its team. But how? The answer is the cloud, a technology that is fast revolutionizing the way small businesses operate.
Here are five reasons why you need to move to the cloud.
1. Real-time Business Insights
Cloud computing gives you the opportunity to track and record business performance, which can help you identify trends and market opportunities, as well as challenges.
Using cloud computing software such as QuickBooks Online, you can keep track of your invoices, expenses and income, as well as retrieve reports and performance charts by sector.
2. The Ultimate Mobile Office
Canada’s small business owners (SBOs) have gone mobile. A study last year by Intuit Canada found that 55% currently run their business from their smartphone. Therefore, it makes sense that business owners use a system like the cloud which complements their office-on-the-go operations. Cloud computing allows you to manage your business administration securely from any portable device, such as a smartphone or tablet. This makes it a convenient and efficient way to do business anywhere.
3. Easy App Integration
A successful business will grow and change over time. Cloud computing can ‘grow’ with your business, thanks to the easy addition of plug-in software and apps. These ensure your business can reach its potential without the cost of investing in expensive new technologies, IT departments and staff training.
For example, customer relationship management (CRM) apps can help you manage your clients and track your sales, while accounting apps are an effective financial management tool to keep your records up-to-date in real time and prepare you for tax time.
4. Streamlined Accounting
Invoicing and accounting has never been easier since businesses moved to the cloud. With the ability to update payments and invoice clients from anywhere around the world, SBOs can enjoy a faster and more streamlined accounting process. QuickBooks Online is a comprehensive platform that enables you to invoice, receive payments, generate statements and view outstanding payments all with a few clicks from any computer or mobile device.
5. Improved Collaboration
You can gain great business insights with the sharing and collaboration benefits of using cloud computing software. You can authorize your sales and marketing teams to view and discuss reports and data from different devices and locations, leading to improved communication and better business outcomes.
Apart from being a low-cost way to store your data, the cloud also provides unrivaled security, backing up data and reducing your vulnerability to hacking. For more information about how cloud computing can benefit you, download our e-book: Guide to Cloud Accounting