March 10, 2015
Accelerate Time to Value Benefit of Cloud Accounting
Posted by Steve Chapman
When you host your accounting system in the cloud, your time to realize a positive ROI is reduced significantly. Some of the benefits that produce a quick time to value are:
No equipment specification or acquisition – You don’t have to worry about server and network hardware, about whether you bought the right stuff or not, or whether it will meet your users’ requirements. You don’t have to worry about hardware or software compatibility because the service provider uses a proven system and has significant experience with the system you’re about to use.
Minimal setup time – Time related to installing software, setting up users, establishing a comprehensive backup plan are all done by the service provider. It will not affect your project plan.
Implementations progress more quickly – Generally the cloud accounting environment is more conducive to rapid implementations because the consultants are used to the environment and can get things done faster. This reduces your consulting costs and shrinks your project timeline.
Lower upfront costs – Because you’re not purchasing equipment and software licenses outright, your investment is less. You won’t have to devote part of your annual capital acquisition budget to your accounting system project. Expenses related to your accounting system are treated as expense items on your P&L statement and not capital items on your balance sheet.
All of these items make your cloud accounting project move along more quickly, reduce your investment, and get your project to a positive ROI sooner.
Steve has over 15 years of experience in business systems consulting, and 20 years of experience in management accounting and finance with small and mid-sized businesses in the construction, distribution, service, and technology industries.