Last updated on January 16th, 2023
The businesses in the world are expanding at a large scale, so is their need for accountancy and finance. With this sudden surge in the demand of accounting professionals, accountants are having a hard time to figure out ways to increase productivity and mobility in their firms and meet client expectation.
Well, we are past the era of manual bookkeeping. Technology is creating an easy pathway for you to change the way you work and bring enormous flexibility in your business. It is the need of the hour.
Accountants want the flexibility of working from anywhere at any time. Mobile accounting is trending these days, and why shouldn’t it? The number of benefits it has in its package for accountants makes the conventional accounting methods weak in its comparison.
Let’s discuss why you, as an accounting profession, need this mobility and flexibility and how mobile accounting can be beneficial in offering the same.
1. Maintain Work-Life Balance
Accounting is a complex process that demands a lot of time from the CPAs. In a conventional scenario, you have to put in a lot of hours sitting behind a desk in the office. Moreover, the hardships of commuting to the office daily and being stuck in traffic add to the mental stress.
According to research by the Journal of Accountancy, CPAs accept that mobile remote access and mobile technology has completely transformed their lives. Accountants are now able to work from home, give time to their families, and also work from another country or state.
You are no longer tied to your desk. Manual bookkeeping and data entry are things of the past. Everything is automated with minimum chances of error. You can choose any device you are comfortable to work upon like desktop, tablet, mobile, etc.
2. To Collaborate Better with The Client and Other Team Members
Sometimes it happens that you urgently need to perform some task and it is just impossible to make it to your office. Considering cloud hosted accounting software is very beneficial as it lets you access your workspace anytime, anywhere and all you need is an Internet-connected device and the login credentials.
Yes, it’s that easy. It also saves your time of sending emails or calling your team members and clients time and again. As the accounting process is hosted on the cloud, the accountants can collaborate better on a single cloud platform. With mobile accounting providing you with the facility of real-time collaboration, you along with your workmates are more productive.
3. Saves You Tons of Paperwork
As far as we remember, accounting has always been about paperwork. It takes up a lot of storage space and is often difficult to manage. It is also very difficult to get that particular file you want easily and timely.
Though you might have been practicing a storing algorithm for easy access to your paperwork, mobile accounting provides you an easy and cost-effective alternative which lets you store all your documents over the cloud.
With mobile accounting, the files are accessible round-the-clock. Moreover, it saves the environment too by reducing your paper usage.
According to a survey by Bill.com, more than 50 percent of accounting professionals support the idea of moving to paperless payments with 41 percent are showing interest towards adopting a cloud-based client payment solution.
4. Track Your Business Processes
Minute to minute reporting of all the work going around in your firm may be difficult with the traditional method, but it is possible if you are hosting your accounting software over the cloud.
You can easily track your bookkeeping processes, generate real-time invoices, and billable hours. With this, you can be more efficient in your work and will be able to stick to a deadline which ultimately will bring profit for your business.
5. Integration with Other Apps Are Easier
To manage an accounting system properly, you need different applications such as tax software, payment app, etc. If you are using mobile accounting, you can integrate with other apps and software easily to give you a technological boost. These apps can interact with each other and provide you with the latest information about your streamlined processes.
6. Instant Software Updates and Independency of Local Devices
Timely maintenance of your local hardware setup can be very expensive and time-consuming tasks. It also hampers your process and leads to data loss.
With cloud-based mobile accounting, you are independent of the local hardware setup because the accounting software is installed in the cloud servers situated in remote data centers. The flexible cloud environment is also capable of scaling your accounting process. This saves the accountants from the tedious task of hardware replacement.
Moreover, the cloud service providers also offer automatic software as well as hardware upgrade without making any disturbance to your work. Not just this, the data backup is always in process, so that if anything goes wrong, you can be back in business within the minimum time possible.
Infographic: 8 Tips To Boost Accountant’s Productivity
The Story So Far
Clients trust their accountants as a person to get the best advice from about business. You can easily collaborate with your client and can solve their concern anytime, anywhere. You will be more productive and efficient and will be able to meet your clients’ expectation and generate more profit for your business with loyal clients.
It is difficult to maintain paperwork and keep it secure, but with mobile accounting, your client’s data is safe and secure with cloud computing multi-factor security.
Now, how to get this mobile accounting and transform your business? You can go for accounting software that can be hosted on the cloud and provide cross-device compatibility. According to the survey by Software Advice, non-intuitive interface and lack of key functionality are the major dissatisfaction with mobile accounting.
A wise solution for you to move to mobile accounting is hosting your desktop applications with cloud hosting providers who are authorized service provider. By hosting with the cloud, you will have the ability to access your software anytime and can perform your tasks easily with great efficiency and bring your business client loyalty and profit.
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