The accounting professions are very well known to work using piles of paper and a particular piece of software – Microsoft Excel. However, since the advent of cloud technology, we have seen a shift in trends of usage. This technology has transformed not just how accountants can work, but also the services that they can offer their clients.
The move toward cloud-based software was never just about convenience, either, it was also about staying competitive in a market where clients have grown to expect fast, collaborative, and insightful service.
While there are many reasons that accountants have made this shift to cloud-based tools like Brixx, we have decided to put together a list of the 12 that came to our minds first.
Accountants are moving for increased efficiency and accessibility
There are many different aspects of efficiency and accessibility that have to be considered when looking at why accountants are moving.
1. The move to working from home – or anywhere!
There has been a cultural shift toward working from home. However, even if accountants are in an office, at home, or meeting a client in a location of their choice, cloud-based financial tools allow full access to all data from any device. There are no ties to a single computer or data-source anymore.
2. An increased expectation for real-time collaboration
With the influx of cloud-based software, clients now have an expectation for accountants to be as responsive as their other service providers. That being said, cloud platforms do allow for multiple team members and clients to work on the same plans at the same time, with changes instantly available to all those involved. There’s no lag and no email back-and-forward, just live updates that keep everyone aligned!
3. Easy, automatic updates
Accountants can say goodbye to installing constant software patches or paying for multiple expensive upgrades. Cloud platforms will update automatically in the background, with no manual install required. Forget about installing the latest version of Excel when you’re in a pinch – with cloud software, accountants have found they have the latest features and security installed without lifting a finger!
Accountants are looking for increased client services and growth
As with all businesses, accountants want to find new ways to easy their workload to take on more clients – and ultimately grow their business.
4. There is more time for advisory work
With cloud software comes cloud automation. The ability for accountants to reduce their time entering repetitive data and creating custom reports allows for much more time. They can focus on new priorities, offering higher value services like strategic cash flow forecasting, scenario analysis, and business planning advice.
5. Improved ability to offer clearer insights for clients
Accountants are knowledgeable in the fact that not all of their clients are fluent in financial jargon! Cloud tools like Brixx are able to transform raw numbers into clear, visual forecasts and reports that make sense in a single glance. This helps clients to better understand their business position, allowing them to improve their business decision making – without needing their accountant on the phone explaining every minute detail!
6. Smoother onboarding for new clients
With smart cloud systems, accountants are able to set up new clients in a simple and straightforward manner. Data can be easily integrated, and collaboration can start almost immediately. Less time is spent on the admin-heavy onboarding process!
Accountants want increased data accuracy and security
All accountants know that accuracy and security are two of the most important foundations of the accounting profession. which has of course influenced their decisions to move to cloud-based software. Cloud platforms are designed to strengthen both of these aspects.
7. A desire for reduced risk of errors
Cloud-based tools operate from a single, central data source, which eliminates any version control issues. Like with easier, automatic updates, this offers a simplified way of working. Accountants and their clients will see the same, up-to-date information, reducing the chance of conflicting figures.
8. Higher need for enterprise-level security standards
Most cloud-based software offers improved encryption, utilising secure data centres and multi-layer authentications. This offers far beyond what traditional local storage can offer. Accountants will find peace of mind knowing that their client’s data stays safe, no matter where it is accessed from.
9. Increased peace of mind through automatic backups
Cloud platforms will back-up data continuously, in real time. Accountants don’t have to worry about typical issues that are out of their control. Things like hardware failures, office break-ins, or even accidental file deletions won’t mean starting from scratch. Everything can be restored quickly and easily.
Accountants are moving for cost-effectiveness and scalability
Accountants are finding that cloud technology offers flexibility and affordability in a way that traditional software models can’t match.
10. There are lower upfront costs
Most, if not all, cloud-based tools offer subscription based pricing. This means that accountants have no need for expensive software licences or infrastructure investments. They can just pay for what they use!
11. The software can scale with the accountant’s firm
When it’s time for an accountant’s firm to expand their team or their services, they can do so with ease. Cloud platforms allow scalability without disrupting existing workflows.
12. The cloud based software is always up to date
As previously mentioned, the cloud-based tools used by accountants are always up to date. They are in line with regulatory changes, always comply to legal requirements, and tax updates are easily updated by the provider. Hours of time can be saved by not needing manual adjustments.
Why does a tool like Brixx stand out for accountants?
Brixx takes all the benefits of cloud technology and applies them to business forecasting and planning. Accountants use it to:
- Create dynamic, visual forecasts that clients can understand at a glance.
- Collaborate with clients in real time, no matter where they are.
- Save time on setup and maintenance, so they can focus on delivering value.
What are the next steps for your accountancy firm?
The shift to cloud technology isn’t just a passing trend. It’s a smarter, more flexible way of working that’s here to stay. For accountants, it means better client service, more time for advisory work, and a future-proofed practice. While some tools (like Excel) aren’t going anywhere anytime soon, accountants have saved hours by adopting these new services.
Are you ready to see how cloud technology could work for you? Try Brixx for free today and experience the difference for yourself.
