If you've been running a business for some time now, you probably have a satisfactory system in place for managing your money. Maybe it involves spreadsheets in Microsoft Excel, or perhaps you have some sort of third-party software solution that does the trick. But chances are, your approach still has some room for improvement.

Now's the time to consider how cloud-based bookkeeping can benefit your business.

Now's the time to consider how cloud-based bookkeeping can benefit your business. It's a matter of streamlining everything in your business – where people access data, how they use it and, ultimately, how your business gets stuff done. With the cloud on your side, the entire process becomes easier.

How the cloud transforms bookkeeping

When you're running a business in the modern era, you've got money moving in all directions in many different ways; you need a business bookkeeping platform that can keep up. According to the Australian Taxation Office, using cloud platforms is essential because they can ensure compliance with every transaction and streamline payments made at any time, from any device.

The cloud is also better for continuity, since you're less likely to have any lag in processing transactions because of technology hiccups. There's no more pausing your operations to identify bugs or install new software licenses – cloud solutions work seamlessly with no interruptions.

Centralising data to transform the business

Business today runs at a high velocity, and there are usually a lot of cooks in the kitchen. When you're dealing with a big financial decision within your organisation, such as drawing up a budget or preparing to handle tax services, you'll probably have a lot of people involved, and they'll all want to make the most informed decisions possible.

You want everyone in your company to get their hands on the numbers they need.You want everyone in your company to get their hands on the numbers they need.

Dina DeNardis, bookkeeping manager at Ashfords, points out that the cloud is invaluable in this regard because it centralises data. Everyone who needs information to evaluate key business decisions can get their hands on it easily and securely. This way, everyone is more knowledgeable about the business and decisions are made quickly and intelligently.

Get accounting insights from the experts

As you evaluate big dilemmas that will decide your company's future, it's valuable to have insights from the professionals to guide you. At Ashfords, we have a team of experts in accounting and financial services who will be happy to weigh in.

The beauty of our process is that we used cloud-based technologies to take a real-time glimpse into all the relevant data regarding your organisation. This way, our perspective is based on timely, accurate information, and you can therefore trust us to lead your business in the right direction. Talk to us today to find out more.