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Total Cost of Ownership of: On-Premise vs. Cloud Accounting System
Just like buying anything else, like a car or a puppy, buying cloud accounting software comes with costs beyond the cost of the product itself. The...
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Here is the scenario:
You have a company that is growing quickly; this is great! But you are having trouble keeping up with the internal accounting and financial processes that come along with that; this is not so great.
So what do you do?
Most often people will begin hiring additional staff for the accounting team to help keep up, generally lower-level accounting staff that can help keep things organized and ensure nothing is falling through the cracks. But is this really the best way to go? Of course job creation is important, especially in current economic times, but business is business and if you want to keep the rapid growth of your small or medium sized business, hiring additional staff may not be the answer for you at this time. Additional staff translates to addition overhead, additional wages to be paid, bonuses to be given, etc. So how do you keep up with the increased complexity and workload? This is where cloud accounting software can change everything.
How?
The technology used in cloud accounting software can automate manual and redundant financial processes, thus eliminating the need for additional lower-level accounting staff. Will you need to hire additional IT to handle this software? Nope! I could rattle off a list of ways cloud accounting software will save you money as you grow your business, but sometimes a real world example says it best.
Intacct recently held a webinar which told the story of how Meetup adopted Intacct Cloud accounting software back in 2010 and the benefits they have seen since then, including:
- Reducing month-end closing by 2 to 3 days
- Achieving daily revenue recognition
- Avoided hiring any additional finance employees, despite 20% year-over-year business growth
Additional benefits of using cloud accounting software include:
- Gain real-time operational and financial visibility
- Accelerate billing and collection cycles and automate partnership accounting
- Easily manage complex financial structures
- Seamlessly integrate healthcare financial management with the rest of your business critical applications
- Ensure world-class security, governance, compliance
- Dramatically reduce IT costs
Want to hear more about how making the switch to cloud financials can help your organization? I would encourage you to register for some of the upcoming educational webinars, check out one of our Intacct whitepapers, or Contact ustoday and we can answer all of your cloud accounting software questions.
About e2b teknologies:
e2b teknologies operates three business units – e2b anytime apps , e2b enterprise, and e2b calibration. e2b enterprise develops custom cloud-based business applications and resells leading ERP accounting software, CRM, HRMS, and other enterprise business software applications from Sage Software, Epicor, Intacct, Sugar CRM, and other publishers. e2b anytime is the publisher of Anytime Collect, Anytime Assets, Anytime 500, Anytime Commerce, and related Anytime brand products. e2b calibration is an ISO/IEC 17025 accredited calibration and repair laboratory providing a full scope of services (traceable to NIST) for most popular calibration, test, and measurement instruments.
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