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Cloud Accounting Allows Better Financial Management Of Your SME

 

LynbrookFS | Raul Checa | Oct 11, 2020

For many companies, the involvement of the traditional accountant role by updating the financial information for your small and medium enterprise (SME) for your tax season once a year. But with the inclusion of Cloud Accounting your company and your accountant can do so much more now. Cloud accounting software is used to automate a wide range of accounting processes to free him/her up so they can offer your business a better financial management insight and professional advice to benefit your small and medium enterprise.

 

Your SME and the Cloud Accounting System

Believe it or not Cloud computing is part of the Forth Industrial Revolution as it changing the game for SMEs, especially when we talk about costs and efficiencies. Not just for the fact that the cloud allows for better and direct collaboration between all role players, who can access to key information of the company which is constantly updated from anywhere and on any device at any time. But it also makes your work a lot easier. For example, automating accounting functions such as adding every bank transaction your company makes, making sure that this process is faster and more accurate.

 

SMEs and lenders

Ben Richmond, country manager at Xero United States, a software company that offers a cloud-based accounting software platform globally for small and medium enterprises (SME), “says your best partner can also be the link between SMEs and lenders, we announced new agreements with three United States digital lender: Waddle, Onpay and Kabbage. These types of partnerships will totally improve business access to funding, and make the accounting job a lot more versatile and multidimensional”.

 

The future is now after a long way

Some years back, accounting software was kept and storage on one only computer that was rarely updated in terms of the data or the software. Most of the company’s information included the accounting data was usually transferred via a USB drive that wasn’t really secure. That was really common back then, normally only one person had access to financial information and customer details and, usually, there was no backup because of the cost it and because its complexity. It also was very laborious to upgrade the software, not to mention the customer support was very slow and costly.

 

The multiple benefits of cloud accounting

When using cloud accounting software, you should know that you are probably spending 50% less than using traditional servers and hardware with the benefit of having a fixed monthly fee, zero initial costs for infrastructure and no long-term contractual obligations. The real value can be seen as the business grows and cloud accounting scales accordingly with no need of business owners having to spend more money buying more software or hardware. With the fact that it also includes advisory functions at a fraction of the price of what it would cost you to employ house accounting professionals.

Lynbrook Financial Services can help you make the move to migrate to the cloud accounting to be able to experience the multiple advantages of technology in your business accounting today. We also provide training courses to prepare and support you and your business.

Talk to us to find out more about how small business accounting software can help you take your business to the next level.

 

For more information about our cloud accounting solutions and support offering, get in touch with us and book your meeting today (407) 385-0687 – email: Info@lynbrookfs.com or visit us onwww.lynbrookfs.com

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Published on 11/2/2020 (167 days ago)