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Today with the advancement in the way businesses are handling data and services, the prospects about the manner in which the same data and services will be handled are surely more advanced. Cloud computing is one such technology that has completely changed the way by which major organizations and companies handle their working processes. Cloud computing offers many benefits to businesses anywhere and anytime. With the growing number of web-enabled devices like smartphones and tablets, it becomes easier to access your business data. Over the past 20 years, United Arab Emirates has become a business hub, Dubai being its epicenter.
Now, comes the need to have a tech-savvy environment for managing tasks related to data handling, processing, and sharing, Cloud accounting software records and processes data related to transactions, accounts payables and receivables. Cloud accounting software-based applications are preferred because they provide a wholesome bucket of solutions required for most of the problems related to management and analysis of data in business.
Cloud accounting software like QuickBooks and TurboCASH is popular among many business corporations.
Well, there are some benefits to employing a cloud accounting service. Business owners prefer installing cloud computing software because it reduces much of the IT costs related to the maintenance of the systems indulged in the proper functioning of the software. Whether there are situations like a natural disaster, power failure, or any other crisis, the cloud environment makes sure that the data is safely backed-up and stored at a safe location. Since business continuity makes you resume work and allows you to conduct business as usual; therefore, cloud software falls at the advantageous side.
Some best accounting tools
Some of the top accounting tools recommended by the experts are FreshBooks, NetSuite ERP, Tipalti, FreeAgent, ZohoBooks. Sage Business cloud accounting. Sage 50cloud, MYOB Essentials, Tradogram, ZohoExpense, and some more to name.
Slickpie is available widely in Dubai and is perfect for medium-sized businesses and start-ups. Another popular accounting software is QuickBooks, which is comprehensive business care solutions and is used by the majority of the nosiness owners. QuickBooks has easy to use software that is customer-oriented; this software helps to manage your taxes easily.
Why go with cloud-based software?
Cloud computing technology has some particularly good benefits when it comes to the convenience of operating work practices. With the help of cloud computing, individuals can complete their work from anywhere in the world effortlessly. The bookkeeper or the accountant has the ability to access the data from home or whenever they are off-site. This technology provides quick access to the data whenever required.
The collaboration efficiency of cloud technology is also appreciable. It enables your business to share the information with the concerned individuals in a much quicker way. Additionally, there is no need to undergo any lengthy deployment process as the cloud computing applications are online almost instantly. This provides you with an edge over your competitors who are yet to migrate to cloud accounting. Superior security features offered by cloud platforms ensure the safety and integrity of your data. Moreover, you are automatically migrated to the updated version of the software without any additional efforts required from your side.
Cloud technology eliminates unwanted technical issues
Certain issues like loss of data due to a power shortage or the chances of data going corrupt by the attack of hackers or scammers are resolved with the cloud technology. Also, cloud technology has opened new ways to access and process the data according to user convenience. Guest access can be provided by adding any add-on features to the cloud service, which is generally provided by the service provider either in the contract or by the subsequent updates during the use of the software. Many manual labor roles also have been eliminated since the cloud software is able to perform many functions at the same time and under one roof.
The accountant or the bookkeeper, who has access to the mainstream data, can easily manage and modify the data according to their needs. Any kind of paperwork is also eliminated by the technology, though it is the users’ choice if they want to retain any important documents on the hard copy. Sustainability of the technology is excellent, and loss of data cannot occur easily.
Cloud technology is the need of the hour
It is always good to come up with innovative methods, but considering the cloud technology going against the trends can be harmful. Cloud technology has served the industry with all the facilities that were needed under one roof. Reduction of IT costs easy accessibility to the data from anywhere, availability of security level patches is all that is required by the business owners. Besides keeping the data secured from any external infections, cloud technology also takes care of the back-up of the data. Since the majority of businesses in Dubai are employing cloud services, it becomes important for freshers that they even do the same or else there may occur chances of stagnant growth in competition, and they may lag behind.
Pay attention to your own requirement
Looking for cloud accounting software is a task that needs some analysis of the requirements and availability of resources. There are a lot of applications available that turn out to be useful for your business, though there are some constraints that you must pay attention to. Some software may require high maintenance costs, and thus it is not feasible for small or medium-sized business owners to install such applications. Applications that suit your business size the most must be deployed; for example, SlickPie is extremely popular among small business owners since it is efficient in managing the tasks properly. For large size businesses, QuickBooks is a good option. Applications change with requirements, and thus analyzing requirements is important so that any extra expenditures can be eliminated.
Dubai based businesses are taking advantage of favorable economic conditions in the country, so ruining the smooth working process is not a good idea. As all the data handling tasks are maintained under the supervision of the bookkeeper, therefore bookkeeper must be able to work with the cloud technology. It is essential to be tech-savvy for the bookkeeper because this is the era of technology and denying being one will surely result in losses.
Consult your bookkeeper or accountant regarding the best software that must be deployed to take care of the accounting tasks. Since the supervision of the application will be done by the bookkeeper; therefore, they must deal in a fluent way with the software. Also, take care of the resources available with you and invest in a suitable and sustainable decision so that the best could be taken out.