Cloud-based accounting is a simple and convenient solution for optimizing financial management. While it can be beneficial for businesses of all sizes, it’s especially so for small and medium-sized businesses (SMBs) like yours that have limited budgets and resources. Cloud-based tools can streamline your bookkeeping, improve oversight and compliance efforts, and enhance security and flexibility, all while reducing your IT overhead. And instead of relying on outdated desktop software that tethers you on site, you can access real-time financial data from anywhere, on any device.

Let’s take a look at how cloud-based accounting solutions do things differently, and how managed cloud services can improve your benefits even further.

How does cloud-based accounting software work?

Unlike traditional accounting software, which needs specific installation and configuration guides for every machine, cloud-based platforms need no installation and store your financial data on remote servers. These servers are housed in secure data centers with far better security than the average business can muster.

To access real-time numbers, users only need to log in securely through a web browser or a dedicated app. They also benefit from automatic updates and upgrades, so they always have access to the latest version, minus the hassle of manual downloads or the need to buy a new version every year.

Multi-user access is another major benefit. Business owners, accountants, and bookkeepers can work simultaneously without worrying about conflicting versions of files.

Some of the most popular cloud accounting solutions include:

• QuickBooks Online – a robust option for invoicing, payroll, and expense tracking
• Xero – loved for its intuitive interface and seamless app integrations
• FreshBooks – ideal for small businesses that need simple, efficient billing and expense tools

Managed cloud solutions: Enterprise-grade security and support for less

While cloud-based accounting tools are powerful, they are complex solutions that need proper management for optimal security and performance. That’s where a managed IT services provider (MSP) comes in. MSPs handle the technical and security aspects for your users, ensuring your financial data is safe, your system runs smoothly, and your employees aren’t bogged down with IT issues.

Here’s what managed IT services for CPAs can provide:

• Automated backups and redundancy – Financial data is backed up across multiple secure locations. The MSP oversees your entire solution from start to finish, allowing you to focus on your work, free from concerns about data loss.
• 24/7 monitoring – Constant monitoring allows MSPs to quickly detect and resolve security threats, failed syncs, and performance issues before they impact your financial data.
• Data encryption and compliance – MSPs enforce encryption for data at rest and in transit, handle data security reporting, and perform a wide range of other tasks to help you stay compliant with financial regulations.
• Disaster recovery – If outages or cyberattacks occur, MSPs implement rapid recovery strategies to swiftly restore your data and software systems, minimizing costly downtime.

Perhaps the best part of managed cloud services is the price for the value your business gets. Instead of bearing the high cost of hiring and equipping cloud and cybersecurity specialists, you can rely on an MSP’s expertise for an affordable, fixed monthly price that keeps your IT budget predictable.

Boosting efficiency for SMB accountants

MSPs’ managed cloud solutions do more than protect data. They make your accounting more efficient by integrating your accounting software with customer relationship management tools, inventory systems, and payroll apps. This centralizes operations and helps your team do more in less time.

Moreover, they can scale resources as your business grows, keeping operations smooth even with heavier workloads and high seasonal demand. Lastly, an MSP’s technical support can free up your accounting team to concentrate on budget management, rather than getting sidetracked by software problems or security updates.

Overall, managed cloud solutions mean peace of mind, improved productivity, and a stronger security posture for small accounting firms.

Discover what managed cloud-based accounting solutions can do for your business 

Want to see how a personalized, expertly managed cloud-based accounting solution can meet your SMB’s unique needs? Contact Digicom Technology Solutions now to book a FREE consultation with one of our cloud experts. We can help you build a custom plan to maximize your accounting team’s efficiency while protecting financial data.