“Change is the only constant in life” is a well-known saying by the Greek philosopher Heraclitus. A swift reaction of businesses to unexpected challenges is of essential importance in today’s fast-changing business environment.
No business activity is immune to change, and companies that can quickly and efficiently adapt to change can do much more than just survive – they can thrive, turning those challenges into opportunities.
Many of those changes are driven by new technologies, and accounting is no exception.
Although some experts predict that accounting does not have a bright future in a digital world, technologies like cloud data management, process automation, and ERP software are proving that accountants will finally be freed from piles of unorganized paper and late-night entries.
What is a Cloud platform?
TiramisuERP is available “online” via a cloud platform which has been created precisely to solve a large number of problems that companies face when using an information system.
What is “cloud”?
The term “Cloud computing” represents delivery of computing resources and capacity as a service that you can use whenever you want. See the explanation of this term on Wikipedia.com. In the case of TiramisuERP this means that we are able to offer you use of a business information system as a service, without the need for your own server, computer network, and other resources required for running an information system; security and availability of data.
What are the advantages of online accounting?
Cloud-based accounting systems are programs/software which either you or your accounting agency register for on your behalf. Together with the agency, you choose the plan that best suits your needs, agree on how to work and the dynamics of uploading documents, etc. The systems securely store all your financial data. TiramisuERP.com is the accounting system on which our franchise is based, and which is a leader in this field in the region.
Efficiency and timeliness
Cloud accounting speeds up client-agency communication. Accordingly, bookkeeping, that is document processing becomes faster and more efficient with significantly reduced chance for error. Consequently, the client of the agency receives daily operational business reports.
Availability and usability of accounting and financial data
As we mentioned, in traditional communication with your accounting agency, the exchange of documents is slow, and besides that, the software the agency uses is not available to you because it is installed on their server in their office. Therefore, you are forced to call your accountant if you need some data, for example the financial ledger of a customer or supplier, overview of liabilities and receivables by customer or date due, balance sheets and profit and loss statements, etc.
Cloud accounting allows access to your company’s data at any time and from any computer or even a mobile phone. The accountant records documents, and you use those data in the form of reports. This will allow you to avoid keeping duplicate records of invoiced services and payments in Excel or similar programmes, which will really save you time.
You are able to view reports such as:
- Customer financial ledger
- Structure of liabilities and receivables by customers and date due
- Profitability
- Balance sheets and profit & loss statements
- VAT return
- Employee payrolls
The possibility of using the same software for the client’s primary business activity
This is actually the so-called “win-win” situation when the client begins actively using the business information system in the cloud TiramisuERP.com for their primary business activity, which can be: provision of various services, retail, wholesale, service, hospitality, catering, manufacturing etc. The client creates invoices or receipts of goods or other documents, and they are automatically posted according to prepared posting schemas and financial data becomes available to you immediately. The accountant supervises and corrects entries, posts bank statements, cash register receipts, travel orders and prepares tax declarations based on this data.
Such a process ensures for the client an identical process as if they had their own employed accountant within the company, in the same office, naturally under much more favourable conditions.
Notifications
When you are a client of an accounting agency that uses the TiramisuERP.com cloud information system, you can expect daily email notifications about your business such as:
Daily report on changes in accounts at commercial banks and current balances on accounts
Daily report on turnover for the previous day
Notification about maturity date of expense bills for the coming day
Notification about payment due dates of issued invoices
Monthly profitability report (overview of all income and expenses by month with display of final business result)
Are your financial data secure on a cloud system?
Cloud-based systems offer top-level security. Without login, no-one can access your data. Online your financial data is stored on secure servers, not on the hard drive of your computer. In addition, your data are secured on backup servers which ensure business continuity in case of natural disaster. All data is transferred and stored according to eBanking solutions which you surely already use.
The future is in cloud accounting. Systems are constantly upgraded and evolving. New technologies are developing and more companies are turning towards virtual offices.