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‘Cloud’ may not be the best word to choose for making business owners feel confident about a potential home for their precious data.  It is just a word though and the enormous benefits can’t be ignored.

The ‘Cloud’ is a term for describing online software delivery and data housing.  Until recent years most business owners have used software and kept data on their computer hard disk.  Software updates had to be downloaded and data had to be backed up and a copy kept offsite for security purposes.  Data had to be transferred between bookkeepers, businesses and accountants.  There is now a better way via the Cloud. Cloud Commerce provides the ability to work on live data anywhere, anytime.  Staff can work from home at midnight if it suits them; advisers can fix up issues that SMEs raise without having to travel to get the ‘true’ data and reduce the risks associated with loss of access to files and apps. Most of us have been banking in the Cloud for many years now and Cloud Commerce is the next step.

The pros of Cloud Commerce far outweigh the cons.  Some people worry about the security of their data and about the internet going down.  Having data on computer hard disks is probably more dangerous than having it in the Cloud.  Most Cloud Commerce organisations use extremely reputable and secure servers for housing systems and data.  In most regions the internet goes down rarely, and if it does it’s generally for hours rather than days. We are on a path to greater internet speed every day.

If you Google ‘Online Accounting Software’ some of the top listed systems are Xero, MYOB Live Accounts, QuickBooks and SAASU.  Both MYOB and QuickBooks have had desktop offerings for many years and have entered the online arena recently.  Both Xero and SAASU were born in the online environment.  What should you be looking for in an online accounting system? 

Here are some questions to ask:

1. Is it provided by a reputable and solid organisation?  Who is involved?
2. Where is the system and data housed and is it safe?
3. If it’s free how much will it cost to retrieve data if you chose to move to another system?
4. How is support delivered?
5. Is there a local presence or is it a ‘faceless’ internet page?
6. Does it create greater efficiencies than desktop software such as automatic bank feeds to reduce bookkeeping data entry time?
7. What functions does it include?
8. Does it handle local taxes and compliance?
9. Is it scalable with ‘Add-Ons’ such as Inventory, Job Management, CRM, Payroll, E Commerce etc.
10. How much training is available for users?
11. Are there a good number of advisors who work with the system?
12. Will it create efficiencies working with your Accountant and will it reduce their fees?