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Swift Dynamics

The Benefits of Cloud Accounting


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Cloud accounting is the process of storing your data and applications in a remote external server which can be accessed through the Internet, at any point, from any location. In recent years, the use of Cloud accounting software, such as Dynamics NAV has become a viable option for small to mid-sized businesses. Below, we list the top 3 benefits of using Cloud accounting.

1. Accessibility

Gain access to all your accounting data anywhere, just as long as you have an Internet connection. Cloud accounting makes it easy to be on-the-go or to work remotely, without the worry of losing access to important information. Data can also be accessed by multiple users from multiple locations in real-time.

2. Cost

Businesses can expect to save on the total cost of owning Cloud accounting software. More often than not, Cloud accounting software is subscription based, so there’s no need for any major up-front investment in hardware. There’s less need for IT presence to manage the technology, and upgrades and maintenance are seamlessly managed by your service provider.

3. Ease of Use

Cloud accounting software offers the ability to integrate with a number of add-ons. For Dynamics NAV, integrations with Dynamics CRM, Office 365, and Power BI prove to be valuable assets in helping ease day-to-day business functions, such as using excel for reporting, creating a lead to cash process, and organizing data into charts and dashboards.

by Swift Dynamics

One Response to “The Benefits of Cloud Accounting”

  1. Kartik says:

    Great article! I agree, the cloud is rapidly changing the accounting and finance industry. Most of the accounting functions now can be performed online and accessed anywhere simultaneously by the team members, without requiring to do anything manually offline on local PCs.

    Besides accessibility, ease of use and cost, there are a number of benefits that cloud accounting offers. For example, with cloud accounting, you need lesser hardware and office premises. You just need a browser and log into your data or software. Plus, your data is always safe and it is never lost. You don’t need to perform manual and time-consuming backups, it happens automatically in the cloud.