Cloud ERP Benefits For Accounting

The Benefits to Cloud ERP Technology for Accounting

By: Kaily Loofbourrow

www.TekoaERP.com

If I was told that there were jobs out there allowing me to work from wherever I wanted, at whatever time I please, I would jump at the opportunity. Cloud technology allows us to reap these benefits. Although there are a few shortcomings, cloud technology is the up-and-coming avenue to a successful business and happy employees.

There are many technology benefits to cloud technology. The information on a business person’s computer is safe. If a company were to experience a break-in, the burglar would not gain information stored on the computers because it would be stored in an online encrypted database.

Reduces costs. The ERP Cloud technology is cheaper than other technological systems, and the company’s cost of storage is reduced because they don’t need space for databases.

There are also some challenges to Cloud technology.

The information is transferred through the internet, and so a business is taking the risk of a genius stealing their information. The chances of this can be drastically minimized by encrypting the information. (The chances of a person decoding a military encryptment would seem to me to be less likely than a physical break-in of a company, which Cloud provides protection from.)

Sometimes the company’s internet connection is lost. Whether the system is down, or the businessperson is not in a location that provides WiFi, it is impossible to gain access to their business information without internet. So, this could potentially decrease productivity and therefore lose revenue for a short period of time.

Sometimes the place where you are storing your data is having technological difficulties. Perhaps their internet is down, or a number of other unpredictable problems occur. This, once again, brings productivity to a halt and the businessperson is forced to delay their busy schedule until the system reboots.

In addition to providing cloud technology benefits, the enterprise gains many benefits with Cloud.

Employees can work from any location where they have access to internet. For women with the desire to stay at home with their children, but can’t afford to quit their job, Cloud technology gives them the opportunity to work from home! For businesses, perhaps hiring someone in a state where the minimum wage is lower than your state (or even a different country where there is no minimum wage) could be cost efficient.

Workers can choose their own hours. Perhaps an employee works brilliantly while most people are sleeping. This luxury allows employees to work at the time they want to and are most efficient in, which improves moral and productivity.

I see one major potential difficulty that Cloud introduces to the enterprise.

If the internet is down (either yours or the host site’s), there is no work. This completely halts productivity and loses money for the company.

Cloud technology benefits both the employees and the business managers. I believe it would improve productivity, because employees would be given the ability to work when they feel most productive. Its benefits far outweigh its shortcomings. Cloud technology is the avenue to a successful business and happy employees.

For more information about using technology to improve business and accounting processes, visit www.TekoaSoftware.com.

Kaily Loofbourrow is a business student at Whitworth University.