We all know that the Coronavirus has triggered a global health and economic crisis. This has been causing a heavy burden to all businesses. The thought of remote work is quite new to some and they have a hard time adjusting to it. Add to that the problem of accessing data that they need to stay operational and functional.
KDF Bookkeeping has been on top of these changes and has been for quite some time. Although we always stay with the traditional Bookkeeping processes, the software we need to use and other applications that are needed for such tasks has been a daily part of our continued improvements in terms of efficiency. We are sharing to you some insights that have helped us cope with the changing times.
This will help bookkeepers who will start to work from home. And help employers decide if remote based bookkeepers are a good way to go.
Here are the common problems businesses will have:
- No longer have access to the office software
- You can no longer simply leave receipts or invoices on their desk to process.
- Chasing payments becomes difficult as there is no cloud data to know who has paid, or not paid.
- And so on…
At KDF Bookkeeping, we have already made changes before that we have transitioned to a point that cloud-based accounting software has solved many of these issues mentioned. These accessibility issues are already a non-issue. This includes our Bookkeeping software which we have also moved to the cloud. We do suggest transitioning now at this stage to the cloud, as this will be more efficient for your business whether in the office or via remote work.
Those who haven’t done so yet are now jumping into the cloud as we can see in the latest news that there’s a sudden surge of businesses moving over to cloud-based bookkeeping. There is no ifs and buts, it’s now time to consider this as the Global Spread of COVID-19 has now triggered the new ways of doing business.
TRADITIONAL vs. CLOUD-BASED
So, what is really the difference between cloud-based and traditional business processes?
There are three that we can see between traditional solutions and their newer, cloud-based counterparts:
- How accessible they are
- How to grow easily
- The Cost Factor
HOW ACCESSIBLE: Start Exploring the Cloud-Based options during these lockdowns.
Cloud-based software simply means that your bookkeeping data is now being stored in the internet which is now accessible anywhere in the world as long as you have an internet connection. These software and servers have a highly secure facility that you need not worry about the data that you upload in there. Unlike traditional software, you are no longer restricted to a single machine for access; you can even now do collaborative work, which simply means you don’t lose access even when the building closes.
All of your business data is no longer stored locally on your office computers (which you still can), and instead now allows multiple authorized users with 24/7 access to your real-time information. Your managers, accountants, bookkeeper and even clients can all be in different places and time zones and yet continue to be able to access and monitor your business financial health.
HOW TO GROW: You’re actually Growing, Improving and Moving with the Times
We know that growing a business is not easy, it can be expensive and ever-changing. Even the thought of hiring an additional bookkeeper seems a last resort. You may think that it is better to buy more storage, upgrade your office software, and all of those in-office improvements, well it is, but it’s hitting multiple birds with one stone by going “cloud ready”. It will feel like a steep learning curve, but when you start figuring it out, you’ll be as efficient as your business is ever going to be.
COVID-19 has a devastating impact, but new practices because of it, forcefully demonstrated to all businesses the viability, scalability and versatility of cloud-based business processes. You become more flexible with your options and have all your data secured on multiple platforms and locations.
COST FACTOR: Worrying about the costs?
Why don’t you think of it this way, now that you don’t have to maintain a local computer to store all your data, you need less real estate to have them at your offices.
You don’t need to buy, install and fiddle around with your storage options, you just outright upgrade them.
The Software you use updates by itself, less work and need for an IT team to manage and install updates to your individual machines.
Subscriptions are quite manageable rather than the traditional software upgrade costs and processes for more features.
This is a turning point to all business, you can either shrink rapidly or grow exponentially, even if we feel like COVID-19 is short-term, going Cloud is a future that comes and there’s no way around it. That is why here at KDF Bookkeeping, we rely on the best Cloud Software and Remote Business working processes to make sure our clients are covered!