“Many businesses are hesitant to move their accounting function to the cloud due to concerns around loss of data or the safety of their information. Once they overcome these fears and discover the numerous benefits of cloud accounting, they don’t look back,” says Lauren du Plooy, director at accounting firm, Rae & Associates.
The number one benefit of moving to cloud is a 50% to 60% increase in productivity. “Who doesn’t want to increase productivity in their accounting and admin departments? By moving to the cloud and automating processes, accounting staff are no longer glorified data capturers,” notes du Plooy.
Moving to cloud accounting with softwares such as QuickBooks Online allows for a higher level of accounting as well as ease of processing, which is the biggest time saver in any business. Business owners are empowered with real-time knowledge that allows them to make faster and better-informed business decisions.
“We’ve seen several companies having to retrench employees as a result of the COVID-19 pandemic, compelling business owners to wear multiple hats and get heavily involved in day-to-day operations. By moving to the cloud, they can free up time to work on their companies and not in them all the time,” adds du Plooy.
She says there is a lot less to worry about when moving to the cloud. “With the right accounting software partners such as QuickBooks Online and the assistance and support from EasyBiz Technologies, businesses don’t have to worry about doing their own back-ups, losing data or having to replace stolen or outdated servers.
Accounting firms win big with moving to the cloud. “Accountants gain a central place from which to manage all their clients. They are able to collaborate with their clients using live data, allowing for on-the-spot decision-making, as opposed to waiting for the end of the month to determine what’s going on in the business,” says du Plooy.
She says Rae & Associates made the move to cloud five years ago. “It has been incredible – a client that took 10 hours a month to process now takes two hours. This means we are able to get highly accurate work in less time. And, we’re able to use the freed-up time to partner with them in a more advisory way. Our ability to inform decision making has positively influenced their businesses.”
In addition, more time has allowed Rae & Associates to increase its client database by more than 50%.
Du Plooy says it is important for accounting firms to have the right conversations with their clients when encouraging them to move to the cloud and adopt online accounting software. “Some of the most frequently asked questions include: How do I get my info online? How do I train my staff? What support will I get? When is a good time to make the move? Will my data be safe?
Du Plooy and EasyBiz Technologies will be addressing these concerns and providing accountants with tactics aimed at helping move their clients to the cloud in a webinar entitled How to talk to your clients about QBO and cloud accounting.
The webinar will take place on Wednesday, 24 February 2021 at 10:00. To register for the webinar, please click here.