What Cloud Services offer Small Accounting Firms

There is a movement going on. It’s been happening for years. Small accounting firms are moving to cloud services.

Steve King is a partner at Emergent Research, who tracks technology use by accounting firms. “Almost 37% of small businesses are ‘fully adapted’ to cloud-based applications,” said King. By 2020, Emergent predicts that percentage to increase to 78% by 2020.

Think about that — cloud service use will double in the next 12-18 months.

Intuit, the developer of Quickbooks, is well aware of these trends. You can tell by how they are arranging their products page, leaving their desktop offerings at the bottom of the page.

But what does the cloud offer to small firms? And why are they migrating in droves?

1. Cloud-based office systems

Using cloud-based office systems gives you the capability of “living documents”. Gone are the days of waiting for a document to be emailed or transferred via thumb-drive.

Cloud documents allow for real-time collaboration on tasks. The cloud is simplifying the collective workload at small firms.

2. Remote workspaces

Cloud services like Quickbooks Online are also changing the office environment. Or rather eliminating the office environment. Currently, 43% of employees report some remote work. For smaller businesses, this offers two different advantages.

The first advantage is that the cloud offers access to employees that are mobile. Whether away for a conference or a “digital nomad”, teams can stay up to the minute on tasks without being location-dependent.

The cloud is also opening talent pools beyond your local infrastructure. Secure access to documents opens teams to talent from around the US as well as from around the world.

3. Backups and recovery

Cloud services allow for an additional level of data security. You always run the risk of a hard drive failing or devices being stolen. Using cloud services remove those risks by decentralizing your information.

Should you move to the cloud?

Early adoption of technology isn’t usually a good idea. It can be troublesome and expensive. However, cloud technology and services aren’t new.

Cloud services allow technology to be constantly updated. Although there is an expense to it, a switch to the cloud provides the flexibility and security your business needs to grow.

How to Manage Your Outsourced Accounting Team

With businesses moving to a remote environment, there is a common question about how you manage an outsourced accounting team. How do you make sure their work aligns with your objectives? How do you form a healthy work-relationship with remote accountants? How do you...

5 Business Tasks You Could be Outsourcing

Too many business owners think they don't need help with their tasks. They think that getting more hands involved means way more expenses for the company. Little do they know, outsourcing could actually help their business grow. (And save them money!) Repetitive or...