The Best Small Businesses are in the Cloud
By Kristen D. Berdar
If you’re running your small business’ accounting functions on a desktop, you’re running out of time. Cloud-based accounting solutions offer better scalability, as well as real-time visibility, and other features that give your business room to grow.
The Best Businesses Utilize the Cloud
If you’re running your business’ accounts on a desktop, you’re running out of time. As your business keeps growing, you’re going to run into more and more accounting challenges that will consume up time you don’t have — especially when you’re trying to scale your business. Using a cloud-based financial system is a much smarter and more efficient way to grow.
Many small business owners start out using QuickBooks or similar on-premises accounting solutions. That may work fine at first, but when you start adding more locations and more complexity, you’ll run into a whole lot of trouble.
New locations sometimes operate as separate entities, each requiring its own separate QuickBooks log-in. As you keep expanding, it can become impossible to maintain a single chart of accounts across your whole company, and closing the books can take weeks of effort. In addition, rapid growth often leads to costly data errors and huge challenges with visibility and reporting.
What the cloud can do for you
Moving to a cloud-based financial system can help you alleviate many growth-related challenges. The latest accounting solutions make it simple to create a single chart of accounts and multi-entity consolidations, eliminating the need for tedious data exports and manual number crunching. You gain business-wide visibility, with the ability to drill down into KPIs that interest you.
In addition, the best cloud-based accounting systems make it easy to integrate specialized applications, such as accounts payable, business management, expense management, and hospitality applications. Such integrations minimize the need for manual data entry, with data instead fed directly and automatically into the accounting system. The resulting efficiencies can cut close times in half and eliminate hours every month that would otherwise be spent preparing reports.
Instead of spending hours on manual tasks, automating with the help of these integrations and other advanced features in cloud-based solutions frees employees to focus all their time on what they do best.
Get help from the experts
You can count on BST to provide a holistic outsourcing accounting solution to meet your needs. We understand that well-organized, accurate, timely, and meaningful financial information is the key to understanding your business operations and making informed decisions. That’s why our team of experienced professionals uses best-in-class technology solutions that are customized, scalable, and offer real-time data to deliver the solutions growing businesses need.