Choosing a cloud accounting software can be a hard nut to crack for small businesses. Small business owners often choose to steer clear of adopting the cloud technology as they feel a cloud environment is only suitable for large businesses with tons of data. However, this is simply untrue!
There are various benefits of cloud accounting, and it can be used by anyone, irrespective of their business size. Most importantly, cloud technology gives you the freedom to work from anywhere, at any time. And such flexibility is something every business requires in this day and age.
A. What is Cloud Accounting? What is Tally on Cloud?
Cloud accounting is a virtual accounting system connected to the internet and can be accessed remotely. Instead of going through the tedious process of installing the accounting software from a disc onto the computer, one can simply access the data from the internet (cloud servers) and work remotely.
- Tally on Cloud – an offering by TallyPrime – is a cloud service that provides easy access to your Tally database from any place, time and device.
- It takes your offline Tally software to the cloud and saves backup & data maintenance costs, operational costs and other miscellaneous costs.
Due to natural calamities, strikes or other unforeseen reasons, sometimes employees may be unable to work from the office. Here, to ensure work is not impeded, Tally on Cloud gives business owners and employees the freedom to access their work remotely. Simply put, Tally Cloud software can help you take your business to the new level of growth.
Is Tally on Cloud is right for your business? Read this blog to find out!
B] Key Considerations While Choosing a Cloud Accounting Service
If you are looking for cloud accounting software to operate and manage your business finance, then here are some key factors that you should consider.
Cloud providers usually have a network of partners who offer robust services that can ease migration, development and running of the cloud service. If a business utilises numerous applications and systems, it is important to check whether or not the cloud service providers offer these services for seamless integration. This will ensure all your information is centralised, offering a 360-degree view of all data and helping you streamline several activities.
2. Manageability, Reliability and Performance
If you are shifting from a physical server to a cloud server keep in mind that cloud accounting software mostly comes in a standardised format. You need to have a general understanding of how to use & manage it for increased productivity. Thus, make sure to choose a software that offers simple management.
In most cases, Cloud accounting solutions are easy to use and don’t require any technical expertise. All you need is a stable internet connection, and you can access it from any device.
Also, make sure to choose a reliable service provider that offers consistent performance without any downtime. This will ensure your employees can work uninterrupted from anywhere in the world.
Being a small business owner, your future business plans may include expansion. Developing your operations in terms of adding more people to your team, increasing godowns and storehouses, increasing stock, and so on would require you to opt for a flexible option to manage your business.
An intelligent cloud accounting software ensures that you have the flexibility to manage your business just the way you want. Whether it is inventory management or accessing business reports remotely, your cloud accounting software should cater to your current and future business needs with ease.
4. Data Security
It is crucial to ensure that the cloud accounting provider meets all pertinent security standards and is compliant with local rules and regulations. If data localisation is important, ensure that the provider can store all data in the same GEO region.
5. Technical Experience and Support
Cloud accounting services usually come with pay-as-you-go models, which indicate that certain levels of support may come at an extra cost. Due to this, companies should understand the level of support they are provided and at what rates. Depending on the nature of your business, you may require different levels of support services.
In some cases, you may get help through a chat service or a call centre. Other times, you may have access to dedicated support, but there is a good chance you may face limitations on access and time.
So, before choosing an accounting cloud service provider, ask questions up-front about what kind and level of technical support it offers.
C] Benefits of Using Cloud Accounting For Your Business
1. Cost-effective With Customised Plans
A cloud server isn’t like a physical server wherein you are required to pay a significant amount of money up-front to purchase the server.
For instance, the up-front costs for Tally on Cloud are less as it works on an annual subscription model.
Also, since it works on a subscription model, you can choose the storage space, what services you need, a backup system, etc for your business data. It offers customised plans as per business requirements. Plus, you only require a single Tally license for multiple offices.
2. Easy Accessibility
The primary benefit of adopting cloud service technology is that it provides full accessibility so you can access your data from anywhere and at any time. It also allows you to access data from all your devices. This is possible only because the data is stored on a virtual server. The best part, all data is synchronised in real-time.
3. Reliability (Data Security and Updates)
You will always be working on an updated cloud version with intuitive cloud accounting software. Your records and accounts will be automatically backed up with high security and encryption. Cloud accounting also ensures that you have the flexibility to isolate your account from other accounts, thus avoiding any kinds of data leakage.
No on-premise physical server means zero maintenance. All maintenance-related services are handled by the cloud company. So, you do not require to worry about downtime, crashed hard drives or incompatible RAM cards, among others.
It can be challenging to get the right solution due to the availability of numerous cloud accounting options. However, the key is to consider your business requirements and make an informed decision.
Tally on Cloud accounting software is an excellent option as it offers an uptime guarantee of 99.9%. It also provides real-time data sync, automated backup, instant data recovery and robust data protection. Plus, you require only a single license for multiple offices. Thus, if you are looking for cost-effective accounting solutions, then it can’t get better than Tally on Cloud.
For more information or any query, get in touch with us!