If you’ve made the decision to replace your existing accounting system—but you haven’t pressed “Go”—you’re probably weighing the pros and cons of on-premise versus cloud-based software. Almost every growing company reaches this impasse, so congratulations! But if you haven’t gotten feedback from your accounting team regarding their new system wish list, now’s a great time. They just might tip the scales in the direction of cloud-based solution. And here are the 3 reasons why:
They Want Anytime/Anywhere System Access
Consider your team members’ digital lifestyles. They have smartphones in their pockets or sitting on their desks during the workday. They’re using them to communicate with family and friends and probably have them hooked up to your company e-mail so they can stay up-to-date while on-the-go. If they don’t have the same easy, 24/7 access to their accounting systems…well, you have to wonder.
- Would they be more productive if they could log in and get some work done while sitting in the airport en route to a customer meeting?
- Would it help speed up any workflows if they could “hop on” to the system for a quick approval when they’re out of the office?
These thoughts may have crossed their minds. This doesn’t mean they want to work around the clock, but it does mean that they’re learning to engage with people and work differently than ever before. They’re beginning to expect mobile functionality and seamless experiences, whether they’re working on their desktop, laptop, tablet, or smartphone; in the office, at home, or while on the road.
Modern accounting software like Intacct makes it easy for your team to access financial data when they need to, so they can be productive when and where they want to be. Find out more in What Does It Mean to Have Anytime, Anywhere Accounting Access?
They Want Automation
Here’s what your accounting team is thinking: “Come on, manual processes are so yesterday! We’re a growing company and there’s a real need for speed.” They’re working in a digital economy, and the bigger your company gets, the more important digitization becomes. And digitization and automation are two peas in a pod.
At a certain stage of company growth, the manual processes that used to work start slowing people down. Manual processes are fine when the task is small—but there’s a point when enough is enough, and technology is adopted to start driving (or supporting) the process. It becomes a question of costs, but actual costs and opportunity costs.
While your team probably doesn’t maintain many paper-and-pencil records, they’re likely keying in the same information two or more times into different systems and using yet another manual process to sync up the data. Think QuickBooks and Excel. Working this way leaves your data vulnerable to human error and your staff vulnerable to burnout and decreased productivity. If this is your reality—then you’re already seeing the costs of not working faster.
A cloud-based accounting system like Intacct will put your team on the fast-track to productivity and growth—and you won’t have to worry about opportunity costs again.
They Want Integrations
If your team uses other financial applications, from proprietary custom apps to systems like SalesForce CRM, ADP payroll, or Expensify, they definitely want to see them interconnected. Because for them, connected systems mean more efficient workflows: less manual processing, cleaner data, and more actionable insights. “Better information” means “better results.”
As your company grows and continues to add more business tools and processes, it will become more important for data coming from disparate sources to synchronize. Think of it as harnessing the power of Big Data. ystem integrations enable faster access to better information—and superior reporting capabilities that uncover more opportunities for both operational efficiencies and strategic growth.
Intacct is built for system-to-system communication. Learn more about it here.