When ‘The Cloud’ became the new tech word on the world’s lips, a large percentage of the population believed that stormy weather was affecting their internet usage… and I don’t blame them. “In the cloud”, “from the cloud”, “moving to the cloud”, are buzz phrases you’ve probably heard thrown around over breakfast, in the office, on the TV, at your local surgery. The cloud is everywhere, and yet there’s still widespread confusion about what it actually means. Am I in the cloud? Can I go to the cloud? It’s enough to make your head a little foggy.

Though it feels like ‘The Cloud’ suddenly appeared in common speech a couple of years ago, cloud computing isn’t a new concept. In a nutshell, cloud computing is the process of sharing resources over a network of servers, as opposed to your hard drive on a single computer. Remember when you had to save documents on a floppy disc, and burn CD’s to share music? The cyber geniuses of the 90’s had a vision of a future where the whole world could share these resources without the fuss of external hard drives.

So here we are in the future, where there’s a smart phone in every pocket, and an app for every thought, hobby and task. You’re probably using the cloud without even thinking about it. Take Netflix as an example – they started a DVD-by-Mail business in the late 90’s, and now they share films and TV series’ instantly with the world. I can sign in anywhere, on my laptop, my phone, or my tablet – in fact, I could use anyone’s laptop, phone or tablet to access this information as long as I’m connected to the internet.

 

I know what you’re thinking, that’s great if I want to sit back, relax and watch Titanic. But what does it mean for my business? And why is an accountant so interested in the cloud?

 

The cloud is changing the way we do business and opening up a world of new opportunities for profit. Using cloud software will enable you to do business on the go, and to communicate with all your clients and customers in a quick, easy and secure way. Can’t visualise what this looks like for your finances? Just think about online banking. You can log in wherever you are, on whatever device, view your bank balance, pay your bills, and transfer your money and more. Because all that information is stored in the cloud, you don’t need to worry when your local bank is turned into a new coffee shop.

Now imagine the same ease and flexibility when sending invoices, claiming expenses, chasing up monies owed, and reconciling transactions from your bank – being able to see what is due to be paid at your fingertips, with the added benefit of real time collaboration with your advisors. You’ll understand why we’re shouting about Xero.  We are impressed by this software because it has business functionality but also a great accountancy back end. Quite simply, it’s the first accounting software that puts the business owners needs first!

This cloud really does have a silver lining.

*We are a Xero Gold Partner firm, with a widely qualified and experienced team. If you would like to chat about Xero and it’s many benefits, or just about cloud accounting as a whole, give us a call.