3 Reasons why you should use cloud accounting software like Xero

If you are an accountant or own a business regardless of its size, you know well the effort, time and knowledge it takes to run the financial management efficiently. It is a multifaceted activity with always a hidden risk that even a small mistake can be damaging. However, technology is always working towards simplifying matters and Xero software is a system developed to offer its clients, be it bookkeepers or SMEs, a totally integrated cloud-based accounting platform. 

Using Xero cloud accounting can literally untie the hands of an accountant or an SME regarding the management of invoicing, payroll processing, taxation control, budgeting, etc. As in “a one man orchestra”, to make a long story short.

What exactly is cloud accounting?

It is an accounting software that functions online. Instead of having a traditional desktop system, the cloud based software is hosted on a remote server to which the users have access via the internet. Users need only to have log-in rights to access the platform and an internet connection, and they can use the software via their laptop, tablet or even their smartphone. The advantages this new form of accounting has are numerous and highly attractive.

Here is why you should use Xero SME accounting, a globally recognized platform that is certified as compliant with ISO/IEC 27001:2013 (it meets all the safety criteria a user demands) and whose reputation expands rapidly all over the world, making it a pioneer in its’ field :

1. Automation

First of all, by adding automation to a business, it is instantly interpreted as time and money saving. Avoiding manually done activities minimises time, effort and the possibility of any mistakes made during data entry. Apart from that, it opens the door to a wide range of other cost reducing elements and elements that enhance scaling. For instance, the cost for the software licence as well as the cost of storing data is extremely cheaper compared to traditional respective software. No server equipment needed also means less space needed (no need for data centre rooms etc). In addition, Xero cloud accounting offers the ability to integrate special customised features and applications better suited to the company’s needs using the Xero app marketplace. Plus, it has the ability to be used by unlimited users with no extra costs. 

2. Easy flowing collaboration

Xero SME accounting provides the chance for all the “stakeholders” to connect at the same time, having the same data and information shared to them, often while themselves being on the go. In that way the team spirit increases, the speed of decision making decreases and the quality of the decisions taken improves. 

3. Up to date and secure data 

This kind of software ensures that the data uploaded is secured and safe and is always updated. The same often goes for back up activities. In addition, the threat of a virus or a hacking attack or the danger of losing data stored in portable or other devices disappears completely with the use of Xero Cloud Accounting.