POS System: What Is It And How Can Your Business Benefit From It?
POS system implementation is especially evident in retail business to manage sales…
Cloud accounting has unleashed its dominance and has taken the business world by storm.
In the United States alone, online accounting software companies have grown in astonishing numbers.
To name some notable companies in the US, Xero has over 1.38 million subscribers and QuickBooks has over 2.55 million subscribers.
Another main player is Sage Business Cloud Accounting who also has growing numbers.
Aside from the three, there are fast rising software companies providing a wide range of cloud accounting options to the business world.
Bringing it closer to home, there are also local software companies pushing cloud accounting as well as those belonging to the big ones mentioned.
With the digitalization of tax reporting in many parts of the world and in the Philippines’ own Bureau of Internal Revenue that has established a computerized accounting system (CAS), there has never been a more pressing time for businesses to look into and evaluate their existing accounting system.
Good job, if you have already considered cloud accounting; you will most certainly be future-proofing your business accounting processes because all directions are leading to the cloud.
There is no stopping the eventual boom of cloud technology through cloud based management software.
The future is definitely in the cloud!
You better say goodbye to those tons of stacked paperwork and overflowing filing cabinets, they are slowly fading away and gone for good.
Although some are loyal, these few were forced to adapt to the cloud over the course of the pandemic when everything was kept at a standstill and when accounting could be done elsewhere except the office.
The benefits of cloud accounting are apparent and cannot be ignored.
It can not just make a difference but it can revolutionize the whole system of doing things.
But for those who haven’t wrapped their heads around the cloud, what is cloud accounting exactly and how does it work?
Essentially, cloud accounting is equal to storage but compared to how we understand storage to be physical, the cloud is virtually online through the internet and can be made accessible from anywhere on any available device.
The main functions of cloud accounting include storage, databases, networking, software, analytics, reporting, intelligence and many more.
To put it simply, cloud accounting stores all your pertinent data and provides transparency, efficiency, clarity, accuracy, system flexibility and reliability when it comes to your company’s financial processes.
Cloud accounting improves staff productivity by automating tedious tasks, among others.
You may want to check out Human Incubator’s EasyFIS: https://human-incubator.com/easy-fis/
So what does the future hold with this advanced cloud system? The facts and statistics are clear and resounding – the future is in the Cloud!