3 Reasons Organizations Should Embrace Cloud Accounting Now

Organizations such as healthcare groups and non-profits have a different set of challenges when it comes to accounting than other for-profit businesses. For one, they don’t have the looser budgets and deeper pockets that enterprises have—giving them the freedom to experiment with technologies and automation. This obstacle often prevents healthcare and non-profit organizations from truly discovering the possibilities of a solution like cloud-based accounting. But they are the organizations that can benefit most of all from them.

Legacy systems like spreadsheets only get you so far, and as your organization serves more patients or works towards its mission with greater achievement, your accounting needs become more complicated. This is where organizations must consider embracing the cloud for accounting operations—or risk stagnating innovation, inhibiting the customer experience, and falling behind. Below are the top three reasons organizations should consider a cloud move sooner rather than later.

1. Make the Most of Every Dollar
When you don’t have expendable cash to put toward technologies that might not serve your organization best, you can rest assured cloud accounting is a smart investment. Your manual accounting methods are likely draining your organization of time and efficiency—not to mention dragging down human employees with repeatable work. Cloud accounting solutions introduce automation into your organization so you can speed up tasks like invoicing and payroll, in addition to being able to integrate with your existing solutions so you don’t have to perform a complete overhaul.

The nature of the cloud is flexibility, so with cloud accounting, you are only paying for the technology you’re using—and no more. You do not have to pay for costly infrastructure or hardware, and you can scale to the number of users you have, giving you cost efficiency if you need to scale up or down.

You’ll also save on paying for upgrades as cloud-based accounting solutions automatically update themselves. This means your team is also freed from having to conduct time-consuming technology upgrades.

2. Get Top-Tier Security
It’s natural to question the security power of something based in the cloud—after all, if it’s not on your premise, how can you control the solution? The reality is just the opposite. Cloud accounting solution providers have made significant financial investments to shore up their security capabilities and guarantee the protection of their customers, especially because accounting data can be sensitive. The notion that cloud technologies are less safe than on-premise, hardware-based ones is outdated.

And since your team is no longer responsible for manually updating your solution in a cloud setting, you will be rest assured that your organization is always using the most up-to-date version of your accounting solution. You’ll eliminate the security risks that come with using a solution that could go out of date—or worse, manual methods that could result in lost files.

3. Support a Competitive Working Environment
Finding and retaining the right talent is another unique challenge for healthcare and non-profit organizations. Today’s workers are looking for the ability to work from anywhere, sophisticated tools, and other flexibilities. The cloud gives you all that and more. Your accounting team will be able to collaborate and access files from any device with an internet connection—enabling them to be productive on their own schedules.

With a mobile workforce, your organization will be better prepared to move with the tides and stay online during unpredictable moments. With your data safe in the cloud and your employees connected through a single platform, your team will improve communication and collaboration in order to speed up workflows, approvals, and other projects.

The Time for Cloud Is Now
If you’ve waited to embrace this important technology, you’ll find your contemporary organizations pulling ahead of you soon. Organizations are saving money, improving work, and gaining competitive ground through the cloud—you can be one of them. Accountnet has been helping organizations of all industries and sizes in the New York region make the move since 1996. Our experts are there with you through implementation, support, and training so you can maximize your dollars and get the most out of your solution. We’re happy to answer any questions you have—reach out anytime.