BBC declared last year that the software for accounting has “gone mainstream” as many businesses have transferred their businesses to the cloud.
Some advantages of cloud computing are the following.
- Instead of a small business purchasing an accounting software, they can utilize a third party-owned software that they can download into the computer. Since it is online, an internet access and computers are the only requirements to access the servers.
- This software allows all employees who have account information to access the servers. They will be able to work and collaborate from anywhere using Word, Excel, and other programs supported by Google.
- The provider of the accounting software secures data given to them and backs it up as well should something go wrong with the system.
- There is no need for constant upgrading.
- A company is able to save some significant amount since it does not have to spend on ICT personnel.
According to Richard Shaw, a BDC Consultant in Toronto, “It’s a huge cost saving.”
He added that as a rule of thumb, about 65 per cent is saved by a company when it implements the “cloud” as compared to the conventional software.
In fact, cloud computing was identified to be “among the top technologies for both cost reductions and growth” based on a recent internal BDC study.
Shaw understands that people have some difficulty entrusting their data on remote servers. However, he is also believing that these data are more secured on the “cloud” since it offers back ups and security.