By Flow Online Accounting Limited
In the last few years we have seen a rapid increase in the popularity of cloud-based services, with companies from every type of industry picking up on the numerous benefits that the cloud can offer. Leading companies such as Apple have focussed on cloud technology and used it as a driving feature behind their sales endeavours – and other industries have taken notice. The growth that cloud technology has seen can be traced to the fact of the multitude of advantages it can offer any business; efficiency, connectivity, security and the ability for organisations to garner real-time information – companies who embrace cloud technology see these advantages instantly, so it was great to see when the accounting industry began to take notice too.
Customers in this day and age are expecting more and more from their service providers, and accountants aren’t exempt from this by any means. If a client doesn’t think they are getting the best service possible, it is easy for them to search for another option on Google and take their business elsewhere. With this in mind, it is up to us to make sure we are ahead of competition and offer a service that provides quality, as well as offering a fair and competitive price. Because of cloud technology, accountants can now offer their clients’ with easy access to their financial information and in a format that is easy to navigate through and understand. At Flow, we have found that cloud solutions have allowed us to present our clients with real-time information that enables them to make informed business decisions quickly – helping us to empower our customers with valuable and sound business advice.
With cloud technology we can now almost operate more as a business consultancy service, working in collaboration with our clients on how they can improve their business on a day to day basis – on top of providing the standard accounting advice. We really believe that incorporating cloud accounting services has transformed how we interact with our clients.
From a client point of view, it also acts as no brainer. They are receiving real-time information that allows them to drill down into every aspect of their business on a daily basis to see how they are performing and understand where they can make improvements. Other aspects of cloud accounting has added extra benefits; everything is integrated so the amount of time they save is a “wow factor” for them. The ability to easily generate management reports can help with any important business meetings, especially with potential investors. The added benefit of being able to access their accounts from anywhere is also a game changer for a lot of businesses.
Cloud technology for accountants also allows for real economies of scale. The initial cost of setting up cloud software from our point of view isn’t preposterous at all, and once the software is set up the cost is easily maintained, meaning that each time a new customer is signed up we can offer a very competitive price for them, whilst they receive a premium service from us – it really acts as a win / win scenario.
Cloud accounting has helped us to build strong relationships with our clients, allowing us to engage a lot more proactively and provide the right advice exactly when it is needed. On top of this, the solution providers that we work with are always innovating their products and offer amazing support; meaning that the services we give to our clients are only going to keep on improving over time. Cloud accounting software really is the future for the accountancy industry, and at this moment in time it enables our brand to stand out from the more traditional accountants and offer something new and refreshing for businesses across the country who need help with their finances.
Read more about why SMEs should embrace cloud accounting.