Cloud accounting – know the facts, not the myths

18 October 2017

Often when speaking to clients about converting to the cloud I find that there is an element of scepticism about making the leap from desktop-based software, and a number of common concerns prevail when it comes to moving to a cloud-based accounting solution.

In this blog, I discuss some of the most common ‘myths’ I come across and the truths behind them.

‘Cloud accounting is a fad’

One of the most common concerns I come across when talking to clients about converting is that they perceive the cloud to be a ‘fad’.  However, with over 50% of businesses now estimated to be using some form of cloud-based software – a figure that is set to continue to rise –  it’s clear that this is a trend that isn’t about to disappear any time soon.

‘The cloud isn’t secure’

Contrary to common belief, the cloud is actually one of the most secure ways to store information.  Data is continually backed up, so you can be assured that the risk of losing it is significantly less than the risk associated with data stored on a hard drive.  Plus, as cloud software offers a greater degree of protection against the rising threat of a ransomware attack, your data and therefore your business is much more secure.

‘Transitioning to the cloud takes time’

Whilst the transition process takes time, it is worth considering the subsequent time savings that will be made after conversion.  Migration from desktop to cloud-based software should be a relatively smooth process and will cause minimal disruption to your organisation’s everyday activities.

‘My company is too complex/big for the cloud’

A common misconception business owners have about converting to the cloud is that their business is either too large or too complex for the software to handle.  However, cloud accounting provides benefits to organisations of every size, which is why many large businesses are adopting the software.  The vast number of bolt-on applications that are available work in conjunction with the cloud to deal with complexities associated with running a large business, while still allowing the organisation to reap the benefits of utilizing the software.

With more businesses than ever enjoying the benefits of the cloud, it’s time you considered conversion.  If you have any questions about migrating to the cloud please do not hesitate to contact me.