Are you on cloud nine, or cloud cuckoo land?

/ Tax

Author: Henry Ejdelbaum

Tags: Accountant, accounting, AIMS, Cloud, practice, technology

In recent years, advances in technology have impacted all our lives. The “Cloud” is a term we now hear thrown around a lot and is definitely in the blueprint for many businesses; but is it a godsend or an Orwellian nightmare? Or is it just a good sales story?

Maybe it takes a good old boring accountant to give you some unemotional insight. At first, the idea of every piece of data in our day to day lives being stored in some abstract reservation may seem daunting, but it really couldn’t be further from the truth. Cloud computing is just another step towards total interconnectivity, enabling us to respond quickly and efficiently to any challenge we face.

But what does it really do for you? Here are some basics:

• Device independent: this is a great advantage; it does not matter if you use a PC, Mac or a tablet. You choose your device and it works for you.
• Less Administration: your data will be regularly backed up.
• More independence: you can access your data wherever there is an internet connection.
• More Communication: different people (all over the world) can work with the data, for example you can add data and your accountant can immediately review it.
• More dependency: the other side of the coin is that if there is no internet connectivity there is no access.
• You still have to do the work: you still have to type in or upload the data
• Accuracy: if you make a mistake typing in data, it is still your responsibility.

One area the Cloud has begun to make a significant dent in is that of accounting. With new cloud-based apps popping up on a seemingly daily basis, the competitive market is blossoming.

Whilst we love and embrace technology we are also mindful that technology is only a tool. The gold standard for accountancy will always be the need for a personal service, a person at the other end of the phone that will sit down with you and discuss the problems you face on a daily basis. Technology just makes the admin more efficient.

Are you using Cloud based software? Let us know how you have found it.

If you like the way we think – you will like the way we work.

AIMS Accountants for Business are the largest independent association of professionally qualified accountants in the UK specialising in accountancy for small, local and independent businesses. AIMS are no ordinary accountants and we are more than just number crunchers! Find your local AIMS Accountant.