Can Cloud Accounting Reduce Operational Cost?
Cloud accounting systems like Sage Intacct can reduce your operating cost while they providing the same features as any traditional software. It’s pay-per-use and requires no huge upfront spend. Value for money increases in best-in-class software, where all product add-ons and integrations are managed by one technology partner.
ROI in two ways
The software will earn you the money back in two ways. The first is that the cost of cloud computing is less expensive than on-premise accounting software. Cloud systems have a lower entry fee, which means you’ll save money by choosing one. Additionally, when you pay month-to-month instead of buying a perpetual license upfront, your costs are even more contained because they don’t increase with inflation or growth in your business — you simply pay for what you need for as long as needed.
The second way to make up for these initial expenses is through integration savings and time savings. For example, cloud accounting systems often integrate with marketing automation tools like Salesforce Pardot and HubSpot so data from sales leads automatically sync into your financial dashboard without any additional work on your part.
Reduce the operational cost
So you don’t need to purchase expensive hardware and software; great! It also means that your IT department won’t have to pay for maintenance or support.
The cloud is cheaper than in-house accounting, because your company can avoid investing in growing headcount, office space and equipment like computers and printers. Also, it won’t be necessary to spend a lot of money on training courses for employees who are new at the job.
- Integrations with other software
Cloud accounting software can integrate with other cloud services, such as CRM, ERP and marketing automation tools. These integrations allow you to view all your data from one place. If a customer has an outstanding balance due, you can get that information directly from the cloud accounting software instead of having to manually enter it into another system. Fewer errors and a more streamlined customer experience both work to reduce operational cost.
- Integrations with other business apps
Cloud-based products often offer integrations with various business applications such as CRM systems or project management apps like JIRA Software or Trello, which let teams collaborate on projects together across different departments within an organization. Many modern cloud-based accounts software, such as Sage Intacct, is built on an open API framework, making it easy to integrate with most systems.
Your time is money
In the cloud accounting system, you do not need to worry about maintaining or upgrading your software. The cloud vendor will always provide updates and upgrades, as well as quarterly or bi-annual product-feature upgrades. You can also save time by using a cloud accounting system because it allows you to access all of your financial data from any location at any time.
Cloud accounting systems will earn you the money back in two ways. The reduced operational cost of cloud accounting means extra dollars in your pocket. The integrations of cloud accounting software save your time and cost. Your time is money.
As dedicated tech experts, we know how valuable your time is, and our purpose is to propel your business forward! Want to know how? Reach out to our team today to start the conversation.