For some
With online accounting solutions the firm is able to increase profitability with the range of services offered, often adding clients and work without hiring more personnel. Online solutions allow professionals and their clients to work from anywhere at any time, providing both with the freedom to focus on core business capabilities (and lifestyle).
Reducing the requirement for sophisticated on-premises
Leveraging mobility and real time access is also about increasing the overall range of opportunity to deliver value. Contractors, employees and clients all find improvements in getting the information they need when it matters, and the firm finds a greater agility in meeting client demands and expanding service offerings.
Cloud computing and online accounting solutions have proven the viability of anytime, anywhere working models, and professional accounting practices of all sizes and orientations are realizing the benefits of working closer with their clients by applying them to the engagement.
Cloud accounting is really about improving the profitability of the accounting practice while delivering higher levels of service to the client. The movement of information from one place to another; translating data from one form to another – these are the processes representing the cost and inefficiency in the practice, and are specific areas where a collaborative, online approach may introduce new service efficiency and value.
Make Sense?
J
It is worth noting that “cloud accounting” and online accounting models do not necessarily require the use of a SaaS solution.