Rapid advances in technology continue to change the atmosphere of accounting and bookkeeping. Today’s forecast calls for cloudy skies.
At ProLedge, we’re continuously studying online technologies and accounting applications to better serve our dynamic customer base. The “cloud movement” has picked up momentum and today there are a number of cloud-based accounting applications helping to streamline the accounting and bookkeeping processes.
If you’re scratching your head wondering why we’re talking about clouds – this part’s for you. In the simplest terms, cloud computing is the act of storing and accessing data and programs over the Internet instead of your computer’s hard drive. The cloud is basically a metaphor for the Internet. Close your eyes and see a puffy, white cumulonimbus cloud, accepting connections and doling out information as it floats by.
Cloud computing is big business and for any business – small to medium-size businesses (SMB’s) benefit from low-cost, easy-to-buy public-cloud services. In a 2013 study, McKinsey & Company, a global management-consulting firm, claimed that 80 percent of the large companies in North America that it’s surveyed are either looking at using cloud services—or already have. The cloud computing market is on its way to generating $100 billion a year.
As it relates to bookkeeping, one of the latest trends within the industry is the addition of cloud-based document management applications such as Smartvault and LedgerDocs. These firms offer innovative and time effective ways to receive, organize, and collaborate on documents, and have designed their applications specifically for the bookkeeping and accounting industry. They integrate seamlessly with QuickBooks and offer intuitive document management. Cloud-based tools such as these eliminate the need for hard-copy document exchanges. Businesses can even transfer documents to their bookkeeper via smartphone or scanner – cutting down on time and money spent couriering the important docs or sending back and forth via flashdrive or email.
Cloud computing also offers a solution to data storage problems many growing businesses face. By 2020, business data use will grow by 4,300 percent to 35 zettabytes, according to the northern Virginia-based IT company Computer Sciences Corporation. Cloud storage services, such as LedgerDocs.com, have become increasingly important for storing and organizing the additional files most SMB’s are acquiring.
If you want to keep your feet on the ground and your head (and bookkeeping services) in the clouds, give us a call. At ProLedge, our expert bookkeeping team will dig in and find a solution that works best for you.