Your clients probably already conduct much of their business in the cloud and so should you. In 2015 IBM predicted that over the next four years, workloads hosted on the public cloud will grow by 44%. Back in 2013, Intuit produced a research report entitled “The Changing Role of Accountancy” which surveyed 200 owners and senior managers of UK SME’s. The report revealed that 61% of clients demand cloud based accounting and 88% of those surveyed said moving to the cloud would help to keep their accountant ahead of the technology curve. A Nielsen Consumer Insights study for Intuit showed that 65% of SME’s now use the cloud for invoicing and accepting payments.
The accounting Firm of the Future has to make use of cloud based accounting and devise new ways to price and sell services while empowering their customers with access to data. If you’re not convinced already then read through these 5 benefits of cloud based accounting solutions.
The Firm of the Future is more efficient and earns more for less work. Instead of charging by the hour, you can charge your client according to a pricing plan which includes access to the cloud based accounting software you use. Fixed pricing plans change your client’s attitude toward their accountant and the software made available to them.
With cloud based accounting you only require one data file and it can be accessed remotely by you and your client. When you don’t use a cloud based system it can be easy to make duplicate data files and update the wrong ones. This is not only confusing and time consuming, but can lead to embarrassing and costly mistakes. You save time and money through the efficiency of a cloud based accounting solution.