Accounting is one of the most time-consuming and burdensome tasks of the finance manager. Yet it is a crucial operation to ensure the smooth running of the department and the whole company. Fortunately, with the evolution of technology and the Cloud, there are now software solutions available that make bookkeeping easier and considerably lighten the work of managers through automation.
After experiencing the containment that resulted from the Corona Virus pandemic, the use of Cloud solutions makes sense. Indeed, your work becomes simpler, but you also benefit from an interesting security and flexibility. Discover all the advantages of the Cloud for finance, from cash management and invoice digitization, through accounting auditing, to consolidation and closing of accounts.
Managing your accounting in the Cloud, what are the advantages?
Online accounting solutions are very simple: you don’t need to install or update them regularly. You can choose the features that suit you for a better management of your accounts. These choices are scalable at any time, depending on the needs and size of your business.
Cloud-based accounting is the most suitable solution to take advantage of a maximum of services at more affordable costs. You don’t need to invest in equipment such as a server, a powerful computer or an internal network installation. All you need is a customized software solution to have a dashboard, a cash flow monitoring tool, a quotation and invoicing system, a cost accounting tool to check the profitability of the company’s activities, etc. This formula enables VSEs and SMEs to benefit from efficient and easy to implement solutions.
Cloud solutions are much more reliable and secure than an in-house installation. Data is stored in datacenters and backups are performed on a regular basis. The infrastructures at your disposal are regularly maintained to avoid any form of breakdown or intrusion.
Mobility is one of the main advantages of Cloud solutions in accounting. Indeed, all you need is an internet connection and a terminal to access your company’s accounting data. During containment, Cloud solutions have enabled finance managers to work easily from home. In the event of a disaster that destroys your IT equipment, the data is safe and guarantees the continuity and durability of your activities.
The automation of various accounting tasks allows your teams to be more available. All you have to do is scan the invoices and the software takes care of the rest, thanks to artificial intelligence: the accounting of the invoices becomes automatic. You will no longer waste time searching through filing cabinets to find an indispensable document.
Solutions that facilitate the consolidation and closing of accounts.
Today you can choose between two types of Cloud software: the web software and the usual software hosted in the Cloud. If you choose a native web software, you must use a last generation web browser. With other solutions, you need to install additional software. Developers of web-based accounting applications mainly design tools that support collaborative work. These applications connect easily to many types of software.
The web accounting software solutions offered by specialized editors are also interesting because they are customized tools that faithfully meet specific, predefined needs. For example, you can opt for a software that allows you to carry out all the operations and management of your company’s financial performance.
The growth and transformation of your company takes place over time and events, which is why it is essential to invest in more up-to-date technical means, in compliance with rules that are becoming increasingly restrictive. Thanks to the professional assistance of experts specialised in the edition of tailor-made solutions, you can have equipment adapted to the size of your company and the particularities of your activities. These tools facilitate financial management, performance management, but also the consolidation and closing of your accounts. When your finance department opts for the Cloud solution best suited to its needs, it benefits from digital continuity and is freed from all automatable tasks.
Take the time to evaluate your needs in order to choose the best Cloud software solution for your accounting. When you opt for a system that offers full functionality you will be able to optimize financial operations, automate reporting, forget about controls and checks, secure your processes, dematerialize accounting documents so you can find them more easily, speed up the closing of your accounts, collaborate more effectively with your team and colleagues, and promote the sharing of documents internally and externally.
The use of a dashboard allows you to have all the information you need to analyze the financial situation of your company and make more accurate forecasts. You can then adapt your work method to improve productivity and make better decisions.