Chances are, you are already using cloud-based software in your daily life for both personal and business purposes, not knowing that various cloud-based tools can provide tremendous value to your business which you are not maybe not even aware yet.
What is cloud-based software?
Cloud-based software provides different users with real-time access to mobile device or laptop applications, all running on shared computing resources over the Internet. In short, it allows us to run software remotely and/or store data on other computers hosted around the world by remote data centers.
We live in a society where instant gratification has become part of our daily lives and for business owners, the ability to access your real-time business data from anywhere not only speaks to this human requirement on the psychological level, but also considerable commercial advantages of now being able to make informed decisions in real time. This can significantly improve business operations, customer management, and overall employee and customer satisfaction.
What is cloud-based business software good for?
I’m sure many of us will remember storing and processing data on local hard drives, CDs or flash drives and then trying to manage the logistics to get the information to the right people on time. , all with an impending deadline in the background. Cloud-based software has changed that for all of us, as data and information can now be stored and processed at a remote online location. If a device has access to the Internet, it can access the data as well as the software necessary for its operation. This allows the software to be updated over-the-air instead of downloading from a CD or your local hard drive.
The benefits of cloud-based software:
Processes are automated, so it’s faster, more cost-effective and more efficient. Another advantage is that it is good for the environment, because all the inventory is done in the cloud and not on paper.
Moreover, cloud-based software streamlines business operations as data is centralized and all processes are monitored in real time. ERP and other operating systems ultimately have an advantage on the financial situation of the company because they limit labor intensive tasks by automating these processes for the company on a daily basis.
How to ensure data security in the cloud?
Servers are secured by limiting their access and are generally only open to specific personnel with access privileges.
Encryption is a standard method for protecting files, as it makes it difficult for cybercriminals to access information. It is important to note that consistent security updates are essential as these updates are designed to keep viruses away from cloud-based devices and software. Software vendors should regularly perform security upgrades on their servers to ensure the security of the information they host.
These companies also hire independent security parties to test servers and software, as well as use artificial intelligence to analyze the security system and look for possible vulnerable areas. A good example is a company with an AI algorithm that sends phishing emails to its employees asking for encryption keys while analyzing the need for additional training.
Companies also use firewalls to filter unwanted traffic and prevent hackers and viruses from accessing the system and the cloud.
How can cloud-based services improve business operations?
Cloud-based software offers small and medium-sized businesses across different industries a variety of benefits, including access to software and email from any device, via phone app or browser. This significantly reduces costs and increases productivity, speed, efficiency, performance and security.
Business owners can also use remote (cloud-based) data storage services such as Dropbox, Google Drive or OneDrive, allowing employees to save files on the go, with the rest of the team having a immediate access.
Companies no longer need to invest in expensive information technology, but simply need a good internet connection to ensure that employees have access to powerful cloud-based applications to complete their tasks. daily. There are various cloud-based software applications that can help you manage and analyze the financial and operational functions of your business.
Examples of effective remote software solutions:
Xero is a great example of a cloud-based application not only for accounting firms, but also an ideal accounting software, as well as its app marketplace platform of over 900 cloud-based apps for small businesses. and medium enterprises.
Xero also helps businesses by automating the majority of accounting processing, leaving you to focus only on the more intuitive processing requirements, as well as the fact that you can work from anywhere, anytime. Connect Xero to your bank for automatic bank feeds and see how easily banking and financial information can be synced.
You can also capture invoices and receipts via email or scan documents from your mobile device. All your information is in one place and your documents are stored online for quick and easy access; this allows for a powerful version of truth and simplified tasks. Xero’s open API allows for easy integration into other software solutions or plug and play into over 900 existing commercial operational software solutions, resulting in a scalable commercial solution for your business.
Commercial operational software solutions would be, for example, but not limited to, your ERP, inventory management, project management and point of sale solutions.
Dear Inventory is a cloud-based enterprise resource planning (ERP) software endorsed by Xero that helps you run your business effectively and efficiently by enabling instant insight into sales and purchase order statuses and your levels. of stock in real time.
Your final accounting data is then synced seamlessly into Xero, which also enables a real-time financial view for your management and accounting team. Legacy traditional systems cannot compete in speed and cost effectiveness with cloud ERP software.
When it comes to streamlining your business, there are various ways companies can use cloud-based software services, which are not just limited to small and medium-sized entities.
Additional software to include could be Google Cloud (a suite of cloud services that runs on the same infrastructure that Google uses internally for its end-user products, such as Google Search, Gmail, Google Drive, GoogleMeet and Youtube). This could be used for your email dispatch, document storage as well as integration into ticketing system software such as Freshdesk or HubSpot.
Optimize your business operations
Your business is valuable and we all know that time is money; therefore, making the right decision about cloud-based services can seem daunting. Be sure to invest in thorough consultation and the necessary research to ensure you make the right decision that will not only meet your business needs today, but will also, very importantly, be scalable for future growth and momentum. of your company.
As a business owner, you cannot underestimate the value of a thorough GAP analysis to determine which software solutions your business can benefit from, such as those mentioned above.
Invest in a consultation with the experts at Nimacc Business Lounge, who are management consultants, specializing in digital strategy, ensuring smooth configuration, implementation and training of these software solutions for your business.
Advantages and Limitations of Cloud Accounting Software
Accounting software assists with general accounting processes, bill and invoice management, payroll, as well as profit and loss trend analysis. These software packages were previously installed on desktop computers where you could work on data in one place from a single computer.
Fortunately, technology has moved on and cloud-based accounting software has been the new trend for quite some time now, allowing you to work on cloud-based software in the office, shut down the laptop and log on to your online accounting profile on another device. and continue working on the same document. Small and medium-sized businesses can usually use these cloud-based software packages without customization or high setup costs.
However, as a business grows and accounting needs become more complex, particularly with respect to inventory and inventory management, it may require more integrated operational systems.
This could include, but is not limited to, an enterprise resource planning (ERP) system to integrate and automate core business processes in relation to inventory records and relevant financial data. These ERP systems improve and support the efficiency of business operations by enabling better resource and inventory planning.
How to Select the Right Software to Grow Your Business
When choosing the right software, a few factors should be considered. First, avoid shiny object syndrome and keep it as simple as possible. Other factors to consider would be the number of users, industry, access to a good internet connection, current challenges faced as well as the company’s future plans in terms of scalability.
Our technical world changes every day and our lives are managed by cloud-based solutions allowing us to be more efficient and productive in a shorter period of time. Cloud-based solutions have given us more efficient, effective and real-time business solutions, where teamwork is not only possible from different locations, but also instantaneous and efficient.
Businesses can now track accounts and analyze their accounts in real time. That being said, they have more control over their inventory, customer service, management, and profitability.
The world of cloud-based software is the foundation of technological innovation and offers various value-added benefits to our daily lives when used to its full advantage. Cloud-based services offer small and medium-sized businesses the opportunity to become more competitive in today’s market at an affordable price with minimal effort.
This post and content is sponsored, written and provided by BaseCloud.