Top 5 Advantages of Cloud Accounting Software

The cloud is largely responsible for our always-on, always-connected world. And the shift isn’t just in our personal lives. In business, today’s teams want the same level of access to the programs they use for work as they have to their Instagram accounts. Cloud software for business offers employees the access and flexibility they expect.

Cloud accounting software offers a new way to think about financial management and allows CFOs to support the needs of growth-oriented businesses. Here are some of the advantages cloud accounting software has to offer.

  Access Your Financials Anywhere

  Up-to-the-Minute Information

  Better Security

  No Upgrades or Costly Maintenance

  Integrate with Other Financial and Business Products

See Top-Rated Cloud Accounting Software in Action

Learn what sets Sage Intacct cloud accounting software apart. This short demo video highlights key features, including the software’s built-in reporting functionality, role-based dashboards with drill-down capabilities, easy report building and scheduling, customizable workflows, and the streamlined month-end close process.

1. Access Your Financials Anywhere

With software in the cloud, you’re not tied to the office to do work. You and your team can safely access your accounting system anywhere, anytime using a web browser or mobile application.

This gives you the flexibility to work from home, on the road, or even at the coffee shop down the street. For larger teams, cloud accounting software makes it easy for employees in different locations to work together without worrying about syncing information between devices or overwriting data incorrectly.

Best of all, most cloud accounting systems allow you to access your financials on tablets, mobile phones, and other mobile devices, which is especially useful for executives who want to log in regularly to track business performance.

2. Up-to-the-Minute Information

With cloud software, as soon as data is entered in the system, any related reports, dashboards, or performance metrics are automatically updated.

This means CFOs and executives can get a current snapshot of the business any time and are equipped with real-time information to make strategic decisions. Reports and other performance indicators will always include the most up-to-date information rather than data from last week or last month.

And because multiple users can simultaneously access the software, communication and collaboration is easy.

3. Better Security

The cloud is one of the most secure places you can store data. It is safe, encrypted, and requires authentication and authorization to access. If an office laptop is stolen or a desktop PC crashes, there is no need to worry about your proprietary information. Thanks to the cloud, your data isn’t stored on local hard drives and servers but rather on encrypted, redundant, remote servers. It is also supported by failsafes like continuous backups and disaster recovery plans.

4. No Upgrades or Costly Maintenance

With cloud software, you save yourself the overhead of purchasing, maintaining, and upgrading an office server. In addition, you don’t have to worry about downloading or installing software upgrades. These are managed by the software provider and deployed directly through the cloud with no work or downtime on your end.

5. Integrate with Other Financial and Business Products

With software in the cloud, you can easily link your accounting software to other financial programs or other systems you use to manage your business. Most cloud software can be connected easily to any other cloud or web-based solution using web-based APIs.

Using integration, you can build your ideal accounting or business management system with the exact tools and products you need. And by syncing data across your business, you can eliminate duplicate entry, reduce errors, and improve your company-wide reporting capabilities.

Leading Cloud Accounting Software

Ready to explore cloud accounting software for your business? Why not start with Sage Intacct? It’s rated #1 in customer satisfaction by G2 Crowd and the only financial management software endorsed by the AICPA. Sage Intacct can support your growing business with all the advantages of a cloud platform listed above and more. To see Sage Intacct in action, check out our demo below.

Watch Our Sage Intacct Cloud Accounting Software Demo

Unlock our demo of Sage Intacct cloud accounting software. This short video highlights key features, including the software’s built-in reporting functionality, role-based dashboards with drill-down capabilities, easy report building and scheduling, customizable workflows, and the streamlined month-end close process.