Do you lose sleep at night worrying about the security of your small business accounting records? You may have either personally spent hours entering transactions or you compensate your employees to do so, and one of your biggest fears is that something will put your accounting system and your data at risk. Cloud accounting is one option that can put your mind at ease.
Disadvantages to Maintaining your Accounting System on your PC Using Local Accounting Software
- Since your accounting software and all of your data is stored on your computer, you have to make sure you have a disaster recovery plan. Your computer is a risk in the event of fire, flood, electrical surge, or a computer crash, and that can mean an interruption to your business that could cost you a great deal of time and money.
- Your computer is also at risk for hackers, viruses, worms, Trojan horses, spyware, identity theft, intellectual property theft, and spam; all threats to some of the most sensitive material in your entire business.
- You laptop could be stolen along with your stored data.
- Fraud risk increases when your information is maintained on your computer, and preventing unauthorized access to your bank accounts is a top priority.
- Technology is always changing and improving. At the same time, additional risks arise. Unless you are an IT expert, keeping up with the latest technology in data security can be too time-consuming when you’re working to grow a successful business.Cloud accounting is a lot in trend these days. Nowadays most of the start-ups in UAE are relying on cloud accounting for the success of their high tech businesses. With this new technology being the talk of the town, small business can easily take advantage of this tool and reduce their workload of managing invoices, bills and receipts thereby increasing the time spent in pursuing new business opportunities.
Cloud accounting is a lot in trend these days. Nowadays most of the start-ups in UAE are relying on cloud accounting for the success of their high tech businesses. With this new technology being the talk of the town, small business can easily take advantage of this tool and reduce their workload of managing invoices, bills and receipts thereby increasing the time spent in pursuing new business opportunities.
Benefit No.1 : Great Savings for Business
All the companies out there who are using cloud accounting software do not require a server infrastructure to store data nor do they require any IT staff to maintain it or update it from time to time. Thus, this software avoids the overhead expenses and helps in great savings for businesses.
Benefit No.2 : Efficiently Track Business Performance
With the help of online accounting solutions, one can easily get current updated financial information for their business thereby enabling them to get a glance of how well their business is performing in the market.
Benefit No.3 : Data: Secured Storage + Easily Accessible
With the introduction of cloud accounting software in the market, one need not create a backup of their every data file. All the data is securely stored in this software online thereby making it easy for the business owners or employees to access it at anytime from anywhere.
“It is an interesting market and a lot of organisations are keen to move to the cloud this year,” as said by, Peter Job , Founder and CEO of Intergence, the independent IT consultancy and professional services company operating in Dubai and Cambridge.
Now instead of focusing on managing every single information on a piece of paper, all the small business owners should migrate to the cloud based solutions. This will help them to give their employees the encouragement, time and attention that they need and also improve the overall operational efficiency.
What to Look For in the Information Security in the Cloud :
- User access methods and permissions
- Extensive firewall technology
- Regular security audits
- Off-site backup methods
- Physically secure and safe data storage locations with security presence and biometric scanners to prevent unauthorized access
- Third-party monitoring
For more information, please contact us.