Finding clarity in the cloud

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There’s little doubt that the digital revolution has provided businesses with more opportunities than ever before. However, technology has also placed a bewildering array of apps, tools and processes at our fingertips.

By Margaret Scott, head of online services, Pierce Chartered Accountants.

That can be off-putting for those businesses still to take advantage of “the cloud” – the virtual network of computer services accessed through the internet and providing infinite possibilities.

Thankfully, it is possible to find clarity in the cloud.

At Pierce, we work with businesses varying in size and sector so we understand that every business is different. Having been previously offered a one-size-fits-all package, many local businesses I have spoken to have been reluctant to adopt the online approach. Unlike some accountancy specialists, who only supply one option when it comes to cloud-based bookkeeping packages, we find the best fit for our clients from one of five suppliers: Xero, QBO (Quickbooks Online), FreeAgent, Kashflow and SageOne. Cloud accounting is already providing benefits for hundreds of Lancashire businesses that previously relied on office-based systems, including: Streamlined processes that can extract key information from bills, receipts and invoices and publish the data to your accountancy software Eliminating the need for manual data entry increases accuracy Systems can be accessed anywhere and anytime, so you and your employees are no longer tied to an office. The system automatically updates in line with the latest regulations, so you’re always fully compliant Cloud accountancy services are highly secure, preventing the risk of data being breached Allows communication with your accountant, meaning financial problems can be detected and prevented before they arise Technology is constantly evolving and my advice is to speak to an expert who will help you demystify cloud accounting, providing a clearer view of the difference it could make to your business.