Remote and hybrid work has become the new normal for many businesses in the UK.
To make the most of remote hybrid working becoming the ‘new normal’ for many businesses in the UK, adaptable firms are shifting operational models to reduce costs and increase efficiency.
Hybrid and remote teams can experience several benefits from using cloud accountancy software. We’ll explore some of these benefits in this guide.
Data oversight and accessibility:
One of the biggest advantages of cloud accounting software for remote and hybrid teams is that it gives company leaders more visibility over their accounts.
If you are a business owner or financial manager, you’ll always have access to your most important financial data whether you’re working from home or at the office.
Accountancy software packages like FreeAgent and Xero use secure information portals to make financial data clear and easy to find.
Cloud accountancy also eliminates the need for the costly and potentially risky transportation of sensitive business information.
Read: Why now is the perfect time to upgrade your accounting software
Remote access and reduced downtime:
In years past, the only way to access accounting software was to have it as a programme downloaded on a computer. As such, if there was a problem with your machine, it would limit your productivity – particularly if you were at home with no access to an IT team.
Now, cloud accounting means you can access the software on any machine, including on low-powered laptops and even mobile devices.
Cost-effective and efficient:
Cloud accounting software reduces the need for expensive hardware like servers, making it attractive for small and medium-sized businesses.
Not only are cloud services typically cheaper, but they also take much of the hassle out of day-to-day operations, meaning they’re faster too.
Accounting software like FreeAgent and Xero can also help your team automate a lot of manual processes, further improving the productivity of hybrid and remote teams.
This frees financial teams from concentrating on more important tasks like financial analysis.
Seamless collaboration and security:
Cloud-based accounting tools help promote collaboration by keeping hybrid and remote teams up-to-date with the latest information.
It also allows two or more employees to work on the same software without causing confusion between team members.
Dexter Dyer, Director at CloudAccountant.co.uk said:
“Information security can be a real concern for businesses with a lot of hybrid and remote employees.
Cloud-based accounting systems provide security superior compared to traditional software.”
Financial records are safe from physical and cyber threats such as theft or natural disasters, viruses, and hacking activities, thanks to protected remote servers and features like two-factor authentication and encryption.
For more information about how cloud accounting software and support can benefit your hybrid or remote team, get in touch here or call: 0808 281 0303.