Businesses that had already invested in cloud accounting software before the global pandemic started in 2020 were at a distinct advantage over those which had not. Companies without this technology were busy scrambling to stay connected to their employees who were suddenly faced with the reality of working remotely due to COVID-19.
The finance and accounting team plays such a critical role in any company that, amazingly, companies would consider NOT adding a cloud ERP system. With the ever-changing scene created by the global pandemic along with other, more commonplace reasons, like a child home sick from school or an elderly parent needing a ride to a doctor’s office, enabling financial professionals to telecommute makes good sense.
Why Transition to Cloud Accounting Software Now
Companies often wait to transition to cloud ERP, often long after the need for upgraded software has become apparent. Many shy away from the cost, while others fear the disruption that such a transition often brings with it.
Neither are good reasons to wait. There are four very good reasons to transition to cloud accounting software now.
- A Consolidated Source of Information
A single-source platform, such as Acumatica cloud ERP, offers more depth and breadth of information than multiple disconnected systems. In cloud ERP, all company information flows into one central system, where it can be viewed and used by everyone throughout the company. The cloud ensures such information is real-time. Information inputted in the main office can be viewed by all the branch offices just as easily as a telecommuting worker can view information from the home office.
Such real-time, consolidated information ensures that everyone throughout the company is working from the same premise. Instead of using outdated information, managers have updated information from which to form judgments and strategies. It gives companies an outstanding competitive advantage.
- Access to the Best Talent
Some companies still find it hard to let go of old ways. This includes insisting that employees can only be effective if they work together in person.
For some, this may be true, but the pandemic has forced many changes into the workforce. People who once thought they couldn’t get any work done at home have found to their surprise that working from home offers incredible benefits. Not only can you get more done at home, but you can also take better care of yourself and your family.
Companies that offer telecommuting benefits may be able to attract the very best talent by offering flexible work arrangements. This is a huge benefit for firms that may struggle to find the right talent from their local community. By enabling telecommuting, you can draw more experienced talent from a large geographic area.
- Cost-Effective Option
You may wonder how adding a new cloud accounting software system is cost-effective compared to retaining a legacy system. Cloud ERP such as Acumatica offers a flexible pricing model that makes it more affordable than you think to make the change to cloud accounting software.
Updating to cloud accounting software makes good financial sense when you also take into consideration the high cost of hardware maintenance and data storage. Added up, all of these costs are often higher than you think.
- Single-Click, Time-Saving Functions
Companies with older accounting software may be unaware that new integrations with ERP systems such as Acumatica have added many time-saving improvements to accounting functions.
Take the common task of issuing invoices to customers. In older accounting systems, you may need to generate the invoice, make it into a PDF, and then open an email system and upload the invoice to the email, then send it. It takes several minutes and many clicks, as well as multiple software packages, to send one invoice.
Now imagine a cloud ERP accounting software system with all the tools to handle AR built right in. Instead of opening the accounting platform and the email system, one click generates the invoice and sends it on its way to the customer.
Acumatica Cloud ERP Offers Multiple Benefits
Acumatica offers several benefits with few drawbacks. Now is the right time to consider a cloud accounting system for your business. With Acumatica, you get a cloud ERP with a secure system and flexible payment options. This ERP can be customized to different user roles.
Click here to read a white paper and calculator on the business benefits of migrating to Acumatica cloud ERP. ASI is here to help you. Please contact us with your questions about Acumatica cloud ERP or to arrange a consultation.