The impact of the “cloud” cannot be overestimated and has revolutionised the way we do business in the UK and the rest of the world.
The cloud refers to remote servers that are accessed online, and the software and databases that run through those servers.
Cloud servers are located in various centres all over the world and by using these systems, users and companies do not have to manage physical servers themselves or run software applications on their own hardware.
Ensuring data is secure
This also allows for greater collaboration between businesses and their advisers, regardless of where they are in the world, which has supported new approaches to working – all the while ensuring that data is secure.
For SMEs and their accountants, the impact has been remarkable over the past decade or so as new software, applications and automations have been developed that assist with their financial functions.
Also known as ‘online accounting’, cloud accounting makes managing your finances and tax affairs easier, faster and safer.
Outsourcing requirements
Switching to cloud accounting means businesses no longer need to update and maintain their own servers, as the cloud vendor will do that. In addition, software upgrades will come as part of the package
This allows small businesses that may not have been able to afford their own internal infrastructure to outsource their requirements affordably. This becomes more critical as technology is evolving all the time.
This is the first in a series of blogs on how the cloud works for business.
Need help with selecting and implementing cloud technology? Contact us today.
