Cloud based accounting and bookkeeping software is being touted as the next advance in business, allowing remote operations and logins and following a model similar to that of other cloud based or hosted business services. But is it safe for your business to store sensitive financial information and client details online and access them from remote locations?
Like just about every other business solution available today, whether computerized maintenance management or video and teleconferencing solutions, cloud based accounting and bookkeeping services offer significant advantages to companies. Making it possible to centralize records and still allow for remote operation and use of your accounting program, this service model presents a few obvious benefits.
Benefits of Cloud Based Accounting:
Considering the increased access, the opportunity for increased functionality within today’s mobile business environment plays a pivotal role in the push toward cloud based systems in general. Accounting software is the logical extension of this thought process and makes particular sense for businesses that need to keep their financial affairs updated and in shape.
There are several basic parts to the security of a cloud based accounting solution that are actually preferable to having a premise based system.
Physical Security - The main benefit is that all data is typically stored in a hardened and secure environment. Your servers will be protected, typically in an environment that utilizes the same physical security measures as most banks.
Electronic Security - Typically, cloud based or hosted accounting software systems employ secure encrypted connections and/or Virtual Private Network (VPN) connections for particularly sensitive information.
Remote Access – In the past, if employees had remote access to the accounting and bookkeeping systems (and they generally did) they were logging in on an unsecured connection and logging into your company’s premise based servers, which were typically unsecured as well.
A hosted, cloud based accounting software system actually solves many security issues in today’s business world. The capability to remotely log in and access your accounting system is a necessary component, and the fact that security measures are built in on several levels can be a valuable asset.
The most important factor when deciding on a new accounting software, and determining whether your data is safely and securely handled, is selecting the right provider for your business. More so than with most business solutions, due diligence is required when deciding on the provider for your hosted accounting solution. There are a multitude of options available in the realm of cloud based accounting, and choosing one with the proper security measures in place to fit your needs is key.
Cloud computing technologies may seem like a relatively new concept because of the rapid-fire adoption of late, but they are actually an improvement on existing concepts that have been present in business for some time. Accounting software is among the more logical choices to maintain in a hosted environment because of the added levels of control and security that your business will be able to implement.
Among all of the business software applications necessary for business operations, ERP is undoubtedly one of the most important. Making the wrong selection can have a disastrous impact on your accounting, manufacturing, and supply chain. With so much at stake, it is crucial to make a well-informed decision. more
Selecting an ERP system is no easy task. You have to select and configure a system that fits your exact business needs. Getting it right means a myriad of benefits, from increased productivity to reduced costs. Getting it wrong can be a quagmire. Our new comparison guide gives you the data you need to make an informed decision, all in one easy-to-use Excel file. more
Do you want to deliver the best service possible to your customers, react quickly to new opportunities, and stay ahead of your competition? more
Best-in-class mid-market businesses are over twice as likely to deploy their ERP solutions on the cloud. They choose the cloud for scalability, flexibility, usability, and cost. These organizations saw 1.9x improvement in profitability over the past two years as compared to those who have on-premise solutions. more
Did you know that according to MorganFranklin Corp., only 46% of ERP users report a strong understanding of ERP features? That's not surprising when ERP software is so complex and difficult to implement. Our thorough infographic details the 15 most common ERP implementation and selection mistakes so that you can avoid them. more