Key Features of Financial Software Solutions in the Cloud
Last week, we took a look at how keeping up with modern business times demands keeping up with technological times, too. One way to do this is to transfer your financial software to a Cloud ERP solution. We discovered the need for this and what being Cloud-based really means. To learn more, visit here. The Cloud provides some key features for businesses that are not available through on premise financial software solutions. These include complete flexibility to work anywhere/anytime, freedom from having to manage IT resources, and easy collaboration with colleagues and clients, regardless of their location.
Let’s take a closer look at the key features of Financial Software Solutions in the Cloud:
- Always accessible- anywhere at any time
Cloud-based applications keep work online in a password-protected database with exclusive and secure access control. It’s easy to log in on any computer or mobile device with a web browser and Internet connection. This could be from the office, at home, at an off-site meeting, or anywhere else you need to be. Total connectivity on the go is a key feature needed in our mobile world!
- Data and information stored safely and reliably
Data reliability is closely related to data security. In essence, company information stored in the cloud is available whenever it needs to be referenced. Cloud financial software solutions protect data reliability in a number of ways, including redundant servers and automatic backup.
Natural disasters at the office building won’t wipe out business if a Cloud solution is being used to store operational information. Information is still intact and secure in the Cloud, running on redundant hardware and backed up for complete continuity. By simply logging on to what is stored on the Cloud, you’ll get back to work without losing time or information. When it comes to data security and disaster recovery, Cloud ERP offers the robustness needed to handle whatever unexpected events may come your way.
- Initial implementation and upfront costs are lower than other solutions
Cloud-based software systems offer a lower start-up cost and can assist in smoothing out cash flow. Rather than paying for costly license fees up front and annually for continuing software maintenance, Cloud-based applications are different. The best part is that paying for ongoing maintenance and fixes is substantially reduced with Cloud systems that are automatically being maintained and upgraded. Typically, Cloud solutions are paid for based on storage space needed or number of users.
- System updates automatically
A Cloud-based solution is automatically updated by the provider, so the real-time version is always the most current. This eliminates the need to use precious time waiting for software updates to be installed, and the latest features are always ready to use and are readily available.
- Enhanced efficiency
Collaboration and productivity are assisted with solutions in the Cloud. This happens because as newer Cloud-based applications become available and are integrated into the system, they are available instantaneously and offer immediate benefits. Remember, with Cloud solutions, what is accessible to you on your software is also available to everyone else using the same system with no lag time in sharing information and collaborating.
- Less maintenance required
With a Cloud-based system, it is time to say goodbye to work interruptions for IT fixes! This means upgrades happen in the background without any disruptions, allowing your business financial operations to stay fully functional at all times.
Acumatica Cloud ERP offers these key features. Acumatica is a complete and adaptable Cloud-based integrated accounting, CRM, and business management suite, offering the deep functionality needed to automate and streamline financials and project accounting. Please contact us here at Mindover Software at any time to learn more or to start using a Cloud solution for your business.