Technology advances like cloud accounting solutions continue to impact businesses on almost a daily basis – and one of the biggest developments is using cloud-based technology to streamline business processes and solutions. The trend to move towards cloud computing is so great that Gartner, a leading research company, identified cloud computing as the number one trend that will change the face of business. This is supported by research from Accenture who state that 85% of CFOs say they plan to increase their investment in the cloud in the next two years, and over a third expect the investment to increase by over 25% during that time.
One of the areas where businesses have seen the biggest returns in efficiency and productivity is in cloud-based accounting software. Unlike traditional on-premises or self-installed accounting software, accounting in the cloud is powered by cloud computing technology – also known as cloud accounting or online accounting.
Cloud-based accounting software is similar to traditional on-premises or self-installed accounting software – the only difference is the software is housed on remote servers. Your businesses data is sent ‘into the cloud’ where it is processed and then returned to you. All application functions are performed off-site, not on your staff’s laptops or desktops. Instead, your business accesses the software application remotely through their web browsers – enabling accountants or business owners to connect to their financial affairs from any location over the Internet.
The immediate benefit of cloud-based accounting is that it frees businesses from having to install, host and maintain software on their employees’ desktops computers. It also allows remote or branch offices to access the same data and the same version of software. Other advantages include:
The GGD Group is committed to bringing our clients the latest technology advancements in the market place. As one of the leading Sage Platinum Business Partners in the Western Cape, we can show you how to leverage these cutting-edge payroll and cloud accounting solutions, no matter what your business size.
Our latest partnership with XERO, with the power of Receipt Bank, is perfect for any size business and brings advanced cloud-based accounting solutions that allow you to streamline, track and manage every aspect of your business – from inventory to invoicing – online, anywhere. For more information on how to access and use cloud accounting services visit www.ggaccounting.co.za or email email@example.com