Time is gold, they say. But in today’s businesses, it is more succinct to say that time is money.
How often do you access your accounting system and check accounts to help manage your business on a daily basis?
There is an ever increasing pressure on businesses to stay afloat amidst challenges and to be stronger and more competitive in the market.
One important aspect is to always stay connected with your financial records and your accounting system.
How can you manage to stay on top of competition when you cannot get the most up-to-date and accurate information remotely without wasting that precious time?
Business IT solutions, that’s how!
Thanks to Business IT solutions that provide the technology of cloud accounting in which real time accounting is one of its main offerings.
Knowing how you are doing as a company, how you have fared in the year-end report as against last year’s is vital information.
And getting that kind of information first-hand, quickly and easily even if you are in the middle of nowhere is beyond amazing!
This is what real-time accounting does! It is essential and more important than ever.
What was once a quarterly or midyear report of your financial standing, both profit and loss reports and current stock values is now accessible and part of your day-to-day business workflow.
With real time accounting, you can keep track of just about every transaction that comes your way and you can be able to determine which areas need more attention and which processes need tweaking.
What is real-time accounting, anyway?
Whenever you need to get hold of data asap, or perhaps right here and right now, from wherever you are and whatever you are doing , real- time accounting is able to provide you the information you need.
It is also sometimes called cloud computing wherein you can effectively access data and compute figures and know if your businesses are doing well or not while you are away.
Real time accounting can definitely give you the edge you need.
Here are the many benefits that you can enjoy with real time accounting powered by cloud accounting.
First benefit is Accessibility.
How would you like to access and know your account information even when you are on vacation?
And knowing that you are on top of everything even if you are away on a holiday?
Cloud accounting provides the real time accounting feature which provides you the power to stay connected with your financial data whenever and wherever.
You can step out of that plane fully assured that your business is under your control.
Second benefit is a Higher Level of Visibility, Trust and Confidence.
Since the display of critical information is done in an instant, there is no room for pilferage, data theft and manipulation of figures.
Real time accounting establishes a great deal of visibility and strengthens the trust and confidence in cloud accounting in general.
The third benefit is Low Costs and Savings.
Paying for subscription fees that are relatively cheaper than having to install a powerful accounting system with staggering license fees saves the company a whole lot of money.
They can just divert the savings gained to other aspects of the business like team building activities and employee training.
The fourth benefit is Real -Time Profit and Loss monitoring.
What good is a business when you are running low in profit?
A profit and loss statement shows how you’ve grown as a business.
Knowing the real-time profit and loss status of your business can help you make strategic decisions in terms of diversification funding and marketing fortifications.
The fifth one is Making Strategic Decisions.
Being proactive, anticipating and forecasting is being a responsible business owner.
Cloud accounting’s ability to provide real time accounting helps management do some tweaking and reinvention whenever needed and it also makes them more insightful rather than reactive.
The sixth one is Being Compliant.
Real time accounting makes a company compliant with government regulations.
In fact, there are business IT solutions companies already offering a BIR compliant and accredited software for easy filing of taxes and others.
The seventh one is Better Expense Monitoring.
Expenses are recorded and seen in real time.
Paying close attention to your company’s expenses keeps you on track while minimizing unnecessary purchases to keep more ROI rather than expenses.
The eighth and last one is Higher Productivity.
Once again time is money.
When everything else is being taken care of by cloud accounting’s real time accounting feature more time and money is saved which equals to greater growth and productivity.
With more time and money strategies are being concocted and owners help build employees up resulting in happy and productive employees.
Are you looking for a surefire software for your business that can provide you with business IT solutions that can give you real time accounting?
EasyFS is a Software-as-a-service (SAAS) sales, inventory and accounting system designed for Micro, Small and Medium (MSME) Enterprises.
EasyFS can give you the edge you need.
If you want to manage your business in real-time and in a WFH (Work from Home Setup), EasyFS can provide you all these benefits of accessibility, real time monitoring, increased visibility, better expense monitoring, cost savings, productivity and most importantly, EasyFS is BIR CAS (Computerized Accounting System) compliant ready for government taxation in the Philippines.
Start now and register for a free trial with: https://human-incubator.com/easyfs/
