“The Cloud” continues to be the buzzword that generates passionate discussion amongst the business community; from debate on how the adoption of new technology can improve business processes, to the concern that surrounds data security and the potential cost of adoption.
As with all investments in new technology, your decision to implement must make strategic sense. New technology should provide you with the technical expertise to deal with an existing area of need, allowing you to allocate time and resources to support other areas of your business.
Factors to consider:
Here are some key factors that you should focus on when considering the adoption of a cloud-based service:
- Cost: Will adopting cloud technology drive down your existing costs
- Accessibility: Could your product/service offering benefit as a result of the enhanced accessibility offered by cloud technology?
- Scalability: Are you able to scale up the use of technology as your business grows, without prohibitive costs?
- Ease-of-use: How easy is the technology to learn and use? Can you benefit from a trial period? How established are the customer support facilities?
- Security: How secure is your data within the cloud?
The Xero Case Study: How cloud technology can aid your Accounting process
SMEs and owner-managed businesses often cite the process of monitoring cash-flows, bank reconciliation and invoicing as some of the most arduous and time-consuming tasks that they must undertake. Having the ability to automate these tasks whilst remaining updated and informed on all facets of your business, in real-time, regardless of your location – at home, in the office or on the move. This is the true benefit that “the cloud” can offer its users.
Xero is an online, cloud-based accounting solution that offers business owners and entrepreneurs the ability to run your business and access your accounts from work, home or on the go. Here are the key benefits Xero and “the Cloud” can offer you:
- Access your accounts from work, home or on the move – providing you with valuable, real-time advice about your business
- Create and send invoices online, allowing invoices to be settled quickly and efficiently
- Connect seamlessly to your bank account, enabling automated bank feeds that import and sort your latest transactions
- Xero is offered at a fixed price to all users, regardless of size – minimising overheads and providing scope for expansion
- All data transferred between users and Xero is SSL encrypted and protected, giving you the confidence to safely access your information regardless of location
Ultimately, SMEs and owner-managed businesses are perfectly placed to benefit from the early adoption of new cloud technology, as the enhanced flexibility that it offers can enable your business to gain an immediate competitive advantage over larger competitors.