Keep pace with changing technology… or risk falling behind

Businesses that embrace the cloud can benefit from blue skies ahead.

Times are changing… in actual fact, they already have. There has been a shift from buying software as a product to buying software as a service (SAAS) and, like many services and utilities, we pay for them monthly.

Blog: Cloud Technology and a Changing Business Environment

Why?

This fundamental shift in behaviour is a direct result of advances in internet technology, along with increased access to faster internet. Just think about how we now:

  • Search for information (Google)
  • Store information (Dropbox, Drive)
  • View content (YouTube)
  • Communicate (Twitter, Facebook)

What’s the effect?

As technological advances and internet connectivity gather speed, more and more opportunities to service new geographical markets emerge – as does the threat of new competition.

The barriers that once divided countries, states, suburbs – and time zones – are removed and technology, along with globalisation, force business owners to compete more fiercely and focus on finding that point of difference that sets them apart from their competitors. In light of this, small and big businesses must be capable of adapting to a fast-changing business environment by:

  • Having a clear strategy (focus)
  • Remaining flexible (culture)
  • Setting up to be scalable (growth)
  • Being close to their numbers (financial)

What are the benefits of cloud technology?

So what does all this have to do with the cloud? First, cloud software has the following characteristics:

  1. Scalable – You can upgrade and downgrade your service as required
  2. Cost effective – No large upfront costs
  3. Accessible – Anywhere, anytime and from any device
  4. Integrated – Ability to connect various software
  5. Improved collaboration – Your advisors/staff can access data in real-time

This ‘software as a service’ model, delivered over faster internet connections, gives business owners the opportunity to implement systems previously only available to large corporations – while also remaining ‘light’ (flexible and adaptable) in their operations.

They can choose software that’s adapted to their needs, upgrade only when required and pay only for what they use. In an increasingly tough business environment, using every possible advantage can make all the difference – and the cloud undoubtedly represents an advantage.

Contact us now to find out how cloud accounting software like Xero and its numerous Add-ons such as Vend, Receipt Bank and GeoOp can help your business stay ahead.

@TomParkerCPA

I am passionate about all things small business. I do what I do to make a real difference. My goal is to break the mould of the ‘typical’ accountant and move our profession more towards one as a proactive business advisor for small business owners looking to learn, develop, succeed in all they do.