How Cloud Accounting Software Can Benefit Your Business

One of the biggest pain-points for any business is when it comes to managing financials. Even large businesses that have their own accounting teams can find themselves slowed down by the time and resources needed to manage finances, taxes, payroll, and remain government and company-compliant.

This is why a number of businesses are turning to accounting software to help them and/or their team streamline and automate a number of accounting processes. Sage software solutions in Canada offer a line of cloud-based accounting software solutions that have seen a large amount of success on the market.

Sage Intacct, for instance, is considered the leading product in cloud-based financial management solutions. It’s even been endorsed by the American Institute of Certified Public Accountants (AICPA) and is ranked highest in customer satisfaction on the websites G2 Crowd and TrustRadius.

This powerful accounting software can help you to automate complex financial processes, consolidate data across your business entities in real-time, stay GAAP-compliant, and make important strategic decisions using insights gained from dashboards that can be customized according to your industry.

All on the Cloud

Much of this product’s power comes from the fact that your data is stored on a cloud-based data center. This means that information gets stored on the internet and is accessible from anywhere and via most devices, as long as you have internet connection.

For organizations that having moving parts or for business owners that are constantly on the go, this is a great tool for keeping an eye on timely and relevant data that could be essential for decision-making. Having access to financial data and insights from wherever you are is a powerful advantage when trying to make sales or make decisions that will move the company forward.

There’s also the advantage of having your whole company on the same page. For large organizations with multiple departments, real-time data that doesn’t need to be duplicated can save you and your company a lot of time and resources.

No one will have to wait to receive reports and decisions can be made on the fly. Data no longer has to be duplicated in old-fashioned spreadsheets which can result in the introduction of human error. It’s a win-win for everyone.

Is it Safe?

Typically, cloud-based platforms are encrypted and other data security measures are put in place in order to protect company information. Sage notes on their website that they offer one of the safest and most secure places to store financial documentation.

In regards to losing data, that’s never usually a problem. Everything gets automatically saved and backed up, so you never have to worry about whether you’re going to lose information.

Invest in the Future

The latest accounting solutions are designed to adapt to your growing business, as well as any changes in the financial landscape. As your company grows, your software will adapt to your growing needs even when you decide to expand globally.

There really is no disadvantage to investing in cloud-based accounting software like Sage Intacct.

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