How can we tell about the need for cloud-based solutions? Well, nowadays, for some companies, especially global enterprises, telecommunications costs can be among the most significant business expenses.
COVID-19 is pushing more companies toward cloud communications. Operations are increasingly distributed across home offices, and they need to provide access to enterprise networks via more types of devices such as smartphones.
Data storage volumes have been growing at a significant rate over the years, and even more in the current year, as organizations gather more information from websites, mobile devices, e-commerce transactions, social media, enterprise applications, and other sources.
We all know that with the emergence of the Internet of Things (IoT) and edge computing, the growth in data volumes is likely to become even more significant in the coming years.
Lots of organizations are turning to the cloud to help handle their big data initiatives. The easy scalability of the cloud makes it a potentially ideal model for data storage. But beyond scalability, the cloud can also enable companies to reduce their total storage costs.
But how companies are managing cloud expenses?
The pandemic has come with an unprecedented crisis in companies. Businesses need to ensure the safety of their workforce because they just cannot afford to drag one’s feet in accounting and compliance.
Unfortunately, a lot of small businesses are struggling to manage their team, to assign tasks, and even comply. Unlike those companies which have previously opted SaaS-based compliance solutions. Those companies are doing well.
The coronavirus pandemic which has brought much of life to a standstill has undoubtedly left an adverse effect on most businesses that weren’t really prepared for this scenario.
By opting for cloud, accounting software businesses can fight the inconvenience brought about by this scenario. They can communicate, delegate, and monitor all work and also ensure the safety of their team by being confined at homes.
Cloud accounting software or SaaS is a convenient tool where the application is hosted by a service provider; this curtails the problem of installation and maintenance of software.
We can tell you that automated cloud-based solutions software has humongous benefits for all companies:
Universal Accessibility: If you wish to view your data, access bank accounts, track your inventory, expenses, sales, etc. anytime and from anywhere, then opt for Cloud accounting software.
This technology makes it possible for you to view your real-time data and access everything without any hassles. As the entire data is stored in a single solution and can be accessed by authorized people, from anywhere, you can select who can access these data.
In a scenario like this, when COVID-19 has created havoc and your employees are homebound for many days, this application helps you keep all accounting and compliance-related matters updated.
Difficulty-Free Data Storage & Backup: The biggest benefit derived from the automated cloud accounting software is that you are freed from all the problems of storing and backing-up data.
The small businesses that made the smart move of deployment of high quality but low-cost cloud accounting software are not impacted by their employees staying at home. They are able to run smoothly and make strategies as to how to weather the storm in these tough times.
Economic crises, natural disasters, medical emergencies, are situations that can hit a business without any warning and lead to a catastrophic upheaval in their future plans. Therefore, the demand of the hour is to embrace tech disruptions at the earliest and be future-ready at all times.
Contact us if you haven’t opted for Cloud-based solutions.