As you are moving your company towards the latest and greatest that the tech world has to offer you may be left with a few questions. What is the cloud? How can it help my company when it comes to my accounting needs? Why is it called the cloud, and what is actually going on? Let me fill you in on a few basic principles that make up the cloud and how it is most beneficial if used properly.
What is the Cloud?
To put it simply, cloud computing is software and services that run via the internet, instead of on your computer. Most people think of a fluffy thing in the sky when you bring up the cloud, but your data is stored in a “terrestrial home.” When accessed through any web browser, the network of servers behind your software finds what you are looking for and delivers it to you, without you having to maintain any software either, only an app on your local device.You can access the cloud through any web browser, regardless of your location.
Basic Cloud Accounting Advantages
When using a cloud-based accounting solution the general concept is that the information you enter into it can be accessed from anywhere. This means that everyone in your company has access to the same and most up to date information – giving you a huge advantage over systems where you have to request reports and wait for them to be produced – maybe days later. These solutions use processes that can be automated and customized to you and your manager’s needs. This eliminates the drudgery of manual data entry and reporting and can be used company wide.
The Common Lingo Wrapped up in the Cloud
Cloud computing is everywhere and is just a fancy way of saying data and applications are being stored and accessed over the internet and not from local hardware. If your companies’ bank utilizes online banking you may be more in touch with the lingo than you are aware of because that is a prime example of cloud computing. Cloud storage is something you may see a lot of when first starting off with the cloud, but all this means is this is the model of computer storage in which the data is stored in facilities.
