Advantages of cloud accounting that you cannot miss out on

Cloud accounting has revolutionized the financial management of companies in Spain. With it, you can do more than just optimize your accounting, you can also forget about human error. Want to know more? Discover in this article the advantages you won’t want to miss, read on and optimize your finances!

Accounting software: on-premise vs. cloud storage

Manually detailing every aspect of a company’s economic activity is an extremely laborious task. Especially because it is prone to errors that can be costly in terms of compliance with legal and tax obligations.

The need to keep accurate records of your accounting has become even more pressing in the modern era. As the procedures for reporting information to the tax authorities have become more immediate and rigorous. 

In this context, the use of accounting software becomes an essential tool for business management. Allowing greater efficiency, reduction of errors and the ability to keep up with tax and legal requirements.

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Why is there a boom in accounting software with cloud storage? 

Faced with this digital transformation scenario, should you opt for accounting software, on-premise or in the cloud?

On-premise 

The former are installed directly in the organization’s systems, which requires a technological infrastructure to store the data.

This local installation entails the need for expert supervision, constant maintenance, implementation of security systems and sometimes additional hardware. In addition, access to these internal systems is restricted and subject to remote access permissions.

Traditionally, the on-premise model has been widely used in accounting, especially by large companies. Due to its perception as the most secure method and offering greater control over the information.

Accounting with cloud storage

Many organizations have migrated to cloud-based accounting and billing software.

This allows them to avoid the large initial investment and maintenance costs associated with local housing. In addition to overcoming mobility and accessibility constraints.

On the other hand, with cloud accounting software you can store, access and manage your applications over the Internet. Eliminating the need to use a hard drive installed on your computer or a local server.

These cloud software are a real revolution in the industry due to their great versatility and numerous benefits. For a better understanding, we share with you a comparative table of both accounting software options:

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Benefits of cloud accounting and invoicing software

Primarily, a cloud accounting software gives you access to financial data from any location and device. There are no geographical limitations. The flexibility offered by the cloud allows your teams to work efficiently. Whether in the office, at home or on the move. Let’s take a look at other benefits you should not miss out on: 

Enhanced security

The cloud offers high levels of security, protecting you from local failures and disasters. Your accounting data is backed up and protected in secure data centers. This minimizes the risk of data loss and ensures the continuity of your business operations.

Automatic updates

Forget about complicated updates, as the cloud effortlessly keeps everything up to date. Automation in your accounting is applied without interruption. This allows you to take advantage of new features and enhancements without having to worry about manual installation.

Simple implementation

It reduces installation times and costs, and offers compatibility with other systems. The configuration and start-up of cloud software is simpler and faster than on-premise solutions. Thus, you can start using it in your accounting without lengthy implementation processes.

Lower initial expenses

Unlike the on-premise model, the cloud does not require a costly initial investment. You won’t have to purchase additional hardware, pay for expensive licenses or invest in specialized personnel to install and maintain the software.

Real-time information

Access your accounting performance indicators in real time from mobile devices. Your business financial information will always be at your fingertips. You can make decisions faster and based on updated data, either from your office or on the go.

Adaptation to regulatory changes

Cloud accounting software is updated to comply with regulatory changes, such as the Immediate Supply of Information (SII).

Keeping up with tax and accounting regulations is critical. Cloud systems are automatically updated to comply with regulatory changes.

Time savings and accuracy

Automating routine tasks, such as financial reporting and account reconciliation, reduces the possibility of human error. You can streamline accounting processes, allowing you to focus on strategic tasks and save time. 

Virtual collaboration

You have the option to create a collaborative space in your business accounting. This facilitates interaction between client and advisory team, improving problem resolution and secure information sharing.

Cloud storage promotes collaboration and efficient communication among all involved. 

Unification on one platform

Manage sales, purchasing, accounting, taxes and more from a single place, simplifying the operation. Having all financial and commercial operations centralized on a single platform simplifies management.

It enables you to make more informed decisions and improves operational efficiency throughout your organization.

You can see a summary of the benefits below:

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If you want to experience the countless advantages of cloud accounting, we are here to help! Explore the possibilities of accounting software with GD ERP and request a demo with us today at gd@gestiondirect.eu. 

Optimize your finances and take control of your business to the next level. Don’t let these advantages slip away! Let us know if you have any questions.