Reduce Risk with Cloud-based Bookkeeping

The pandemic has taught business owners that it’s essential to have a risk management plan in place in the event that they have to close their offices. Unfortunately, some companies learned the hard way and lost customers due to being forced to shut down.

A valuable risk management tool is using cloud-based accounting instead of a software program installed in your office computers. This allows you and your team to work remotely from home or other locations.

Of course, a pandemic is a very rare occurrence. However, there are other situations that can disrupt your business and impair your ability to generate revenue:

·       A fire, flood or other incident at your office

·       Theft or vandalism of your computers

·       A server crash, resulting in loss of vital data

You can be prepared for emergencies, and reduce the risk of business loss, by shifting to a cloud-based bookkeeping system. With this model, your data is safely stored in the cloud and you can access your books at home or anywhere in the world.

“During covid, our clients were able to maintain business continuity thanks to already being on a cloud-based accounting system,” says Rustin Smith, CEO of Scalability bookkeeping service. “It proved to be a godsend for them.”

In addition to reducing risk, with cloud-based bookkeeping you can:

·       Collaborate with your accounting team without having to email files. Everything is available online.

·       View data in real-time. There’s no need to wait for reports.

·       Take advantage of the fact that technology is updated automatically and instantly. You don’t have to install updates to your accounting software.

·       Work on your data from anywhere, whether you are on a business trip or vacation.

Moving to a cloud-based accounting system is easy. Scalability can convert your books without disrupting your operations or customer service. For more information, please contact Rustin at support@scalability.ca