Moving to the Cloud

The storing of data on the internet instead of on-premises, such as on a hard drive.

The cloud gives SMEs access to a huge amount of information, which previously was only available to large enterprises that could afford expensive software. This helps to level the playing field for smaller businesses. the cloud also allows for enhanced accessibility, scalability, increased security, and improved connections with other service providers.

One of the most popular cloud services, cloud accounting is when you use the internet to access your accounting software.

Many different applications are available on the cloud, including accounting, business intelligence, communication services, point of sale, enterprise resource management systems, customer relationship management systems, HR and payroll functions, as well as file sharing and document collaboration. 

One of the most popular cloud services, cloud accounting is when you use the internet to access your accounting software.

Integration is one of the best features of the cloud. If you link your cloud accounting software to your point of sale system, for example, your accounts will be updated in real time as soon as a sale is made. this can also update your inventory levels when linked to inventory management software, which can order new stock automatically when lots of one product is purchased.

Cloud applications allow you to scale up as your business grows, adding additional users, functions and applications on a case-by-case basis - perfect for expanding businesses!

There are many different cloud software providers. Xero, for example, is one of the most popular cloud accounting platforms available, while business intelligence tool FUTRLI provides powerful reporting and forecasting functionality. 

Cloud software providers include many different security protocols, far more than most SMEs could afford for their own servers. These include end-to-end encryption, two-factor authentication and regular cybersecurity updates and patches. Cloud software also allows you to set permissions varying by user.

Cloud software is much cheaper than downloading applications onto individual devices. All you need to do is pay a monthly subscription fee and your cloud provider will take care of everything, from server management and software upgrades to data security and backups.

All businesses are ready for the cloud! If you aren't moving over, you're putting your business at a competitive disadvantage.

The main thing you'll need is a good internet connection. It also helps to reassess your current systems to decide which ones you really need moving forward, and which ones you want to move to the cloud first.

BDO is a platinum partner of xero. Using Xero and its range of over 700 add-ons, we are able to draw on the knowledge from our nationwide BDO network to implement an ecosystem that best meets your needs. we also partner with FUTRLI to provide you with real-time business insights.