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In
the past few years, there’s been a steadily-growing trend to move as many
business functions to the cloud because it reduces infrastructure costs and
increases operational agility. While this tendency is certainly based on very
realistic advantages of the new method, it still makes sense to question
whether some specific functions such as accounting should be trusted within the
cloud. There are many factors to consider before making such a decision, from
technical capacity of the company to the volume of accounting work that needs
to be completed on a weekly level.
In this article, we will analyze the strengths and weaknesses of each group of solution from the perspective of a small business owner. We will discuss the topic impartially, taking different aspects of business operations into account and evaluating which type of accounting software package could produce more tangible benefits, depending on your business model.
Financial
considerations
Cloud
solutions are typically marketed differently than desktop software, so instead
of licenses the users are often asked to pay a monthly subscription. The
monthly amount is usually not very large, and there are often several packages
to choose from. Meanwhile, desktop solutions for accounting often come as a
part of larger corporate software suites and are implemented company-wide.
Licenses must be renewed every year in order to get full support for desktop
solutions, so the expenses are recurring in this mode as well. With this in
mind, smaller companies are usually better off in the final tally if they sign
up for a cloud service than if they opt for traditional accounting product.
Security
issues
Whenever
financial information needs to be sent to external servers, business owners
become a bit nervous. It’s true that there are inherent security risks when you
upload sensitive data to the cloud, but modern solutions use advanced
encryption and access control technologies, s… Read More
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