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Bigger used to mean better. In the past, the kind of technology and processing power now offered by cloud computing was only available to large corporations. This put start-ups and SMEs at a disadvantage. Smaller companies rarely had the capital to invest in the necessary hardware, software, security, maintenance, and space within which to house it all. That’s all changed with the rise of cloud computing, which has been a game-changer for businesses, especially for start-ups and SMEs.
I asked a client's IT manager what he thought about moving to a cloud based accounting system for one of the companies in the group, and had the following reply:
"With regards to your second question, which brings into scope any cloud-based software utilised by us, let me first enumerate the risks of using cloud-based software against in-house software.
1. Loss of data: Cloud-based companies go bankrupt just as normal software companies do, and the difference is that you can lose access to an application that you rely on overnight. There have also been several examples where data has been lost from cloud-based systems.
Let’s be honest; you probably didn’t go into business because of your passion for accounting, (unless you are wood and disney, of course!)
Financial administration and management is one aspect of business that we all want to be as straightforward and simple as possible.
If we were asked to come up with a wish list for an ideal accounting software solution, it might look a bit like this:
Intuitive and easy to use
Accessible from anywhere with an internet connection and always available
You may have read that we are cloud accounting specialists and experts in QuickBooks Online, Xero, SageOne and Kashflow so in theory we can act for any clients anywhere. Despite only being a small firm of accountants based on a rural business park on the outskirts of Colchester we have clients in Wales, Scotland, northern England and on the south coast. These relationships have mainly been because those clients started locally but when they moved away still retained us to act for them.
On 6th and 7th March I will be attending The QuickBooks Connect Conference in London where I am on stage both days for one of the panel discussions. There is a fantastic lineup of speakers including some famous names such as James Caan, Mary Portas and Lord Sugar. The first day is for accountants only but the second day is for business owners and you should consider coming along.
A full on day commencing with the keynote speakers and then 3 potential workshops on a wide variety of subjects.
The Agenda for the business owners’ day on 7th March is as follows:
8.30-9.30am Registration, Breakfast and Networking