Give your business a competitive edge with cloud accounting solutions

In today’s challenging business environment, businesses are looking at technology to give them the edge over their competitors. Technology innovation is driving massive changes in accounting with cloud accounting solutions, which allow companies to handle their accounting and finances from home, the office or anywhere in the world. The EA Group specialises in cloud accounting solutions and is ready to support you as you take your business forward into the future.

Harness the power of the cloud

In simple terms, cloud technology or cloud computing is storing and accessing programmes and data using the internet instead of hardware, such as one’s own hard drives for data storage. Various cloud technology or cloud computing services include access to servers, storage, databases, networking, software, analytics and internet intelligence to help run one’s business faster and more efficiently.

Cloud computing is a crucial tool to foster the growth of small to medium enterprises (SMEs), but they often shy away from adopting the tech solution due to the perception that it is only for large corporations. But, SMEs adopting cloud computing solutions – like Cloud Accounting – experience huge benefits.

Cloud Accounting will lead the way by 2028

Cloud-based accounting solutions like Xero and Sage offer customers a wide variety of benefits and its reported growth is an indication of its success. The global Cloud Accounting Software market size was valued at USD 4144.0 million in 2022 and is expected to expand at a CAGR of 10.56% during the forecast period, reaching USD 7567.54 million by 2028.¹ SMEs are also increasingly adopting cloud accounting solutions. A survey by Sage found that 67% of accountants believe that cloud accounting is the way of the future, and 82% of SMEs believe that cloud technology is important for their future success.²

Cloud Accounting improves efficiency and reduces errors

Cloud-based accounting software includes many automated features, which means there is less room for financial errors and data processing time is significantly reduced. As all data resides in the cloud, collaboration between departments, offices in different parts of the country and even internationally, is much easier. Users have immediate access to all accounting and financial information and real-time updates ensure that the information is always up-to-date.

Cloud Accounting drives revenue and growth

Cloud accounting services provide detailed and reliable reporting, helping businesses to understand and support revenue in their organisations. Detailed financial reporting ensures business can quickly identify areas for growth and enables businesses to achieve their cost control and revenue growth goals.

Cloud accounting allows for complete device integration

Unlike previous desk-based accounting systems, cloud accounting solutions allow users to have immediate access to their accounting and financial data from their smartphones and tablets, enabling them to work anywhere, allowing workers to be more productive away from the office.

Cloud accounting increases data security

The security of financial data is a critical issue for many businesses. In the past, the data was stored on traditional desktop systems, which could be stolen or broken into. Cloud data storage facilities combine both digital and physical security measures to keep financial data safe. With your data stored in the cloud, it is safe from fire, floods, power outages and other disasters that can take place at your workplace and even at the data storage facilities.

Harness the power of cloud accounting solutions with the EA Group

We are committed to ensuring all our customers have the accounting solutions that will give them a competitive advantage today and in the future. For expert advice about how cloud accounting solutions will assist your business and how you can implement them, speak to us today.