Onboarding accounting systems

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Onboarding accounting systems

As we know it, accounting is rapidly transforming and riding on the leading edge of technology. From automating mundane tasks and improving communication to getting paid faster and giving business owners greater financial visibility. Business owners can now spend more time growing their business and doing what they love, partially due to productivity optimisation available through newer technologies.

Welcome to the era of cloud accounting and automation.

What is Cloud Accounting?

Cloud accounting, is a more secure, efficient and easily accessible option than legacy desktop accounting platforms. An organisation can get a real-time view of their finances, from anywhere, at any time, with any smart device. Any individual with the appropriate access, including your external accountant (if you wish), can utilise the software in accordance with your company policies and procedures.

This means flexibility, efficiency, reliability, collaboration, value-add and security… to name a few.

Onboarding cloud accounting systems

Although cloud accounting is the obvious choice (and almost the only option), migrating to cloud accounting and onboarding a cloud accounting software can be daunting and intimidating, but lucky for you and your organisation, we are here to help!

The best approach? “If You Fail to Plan, You Are Planning to Fail” — Benjamin Franklin.

So, let’s break it up into steps, i.e. Your Cloud Onboarding Plan

Cloud Onboarding Plan

Step 1 – Understand your needs

What are you trying to achieve with this switch?

Start by documenting:

  1. Your frustrations with your current accounting software; and
  2. Weaknesses in your existing business processes; and
  3. Improvements you would like to make. Maybe you would like to up your game on your customer services front and focus on improving customer experience.

Identifying the “why” will help with the “how”; therefore, setting out the outcomes you want to achieve with the move to the cloud and prioritising them to follow a phased-in approach is vital.

Examples of outcomes can include:

  • Reducing IT-related costs (no on-premises servers/data centres)
  • Faster, anywhere access to company data to move to a hybrid work environment
  • Scalability of cloud computing (which can reduce overheads)
  • Integration possibilities with third-party applications, like Point-of-Sale, Inventory Management, online shops and payment portals.
  • Improving internal communication and collaboration
  • Enhanced customer service
  • More robust data security (automatic software updates, encryption)
  • Utilising automation for accounting efficiency
  • Analysing your data with real-time data and machine learning to back proactive decision-making.

Step 2 – Understand the obstacles and restrictions

Even though cloud accounting is the way to go, your new chosen cloud accounting software might not be able to automate all your tasks or achieve all the set-out goals. The good news, however, is that many apps and cloud software available can integrate with your cloud accounting software to cover almost all limitations to add value to your business and make the most of your financial data. Be sure to identify these obstacles from the get-go with your advisor.

Some migrations may cause downtime with regard to accounting and reporting for a little while, so it is worthwhile to consult your accounting advisor to plan the best time to migrate your accounting data to the cloud.

Also, keep in mind that there is the possibility of moving your historical financial data to your new cloud accounting software, depending on your current legacy accounting system.

It is important to remember that there are specific prerequisites for a smooth cloud accounting experience, such as a stable internet connection. Do not forget that load shedding might cause some difficulties. Investing in an uninterruptible power supply (UPS) might be worthwhile to keep you connected.

Step 3 – Choose your software, integrations and remember the limitations

There are many cloud accounting systems to choose from, and it might be overwhelming to determine which one will get the most out of your business. It may be best to consult an expert like us to assist with choosing the best cloud accounting software and add-ons for your needs, as we will be able to analyse your needs and give the best recommendations for your business.

Step 4 – Just do it! Onboard!

We’re finally here and ready to change accounting as you know it!

We always vouch for an accounting expert to assist with the seamless transition, so be sure to have open communication in order to manage expectations. The more information we have, the better we can assist you and ensure a hassle-free onboarding.

It is highly recommended to complete a training course in onboarding your specific system, as well as having a well-rounded understanding of the software or a trusted partner to give help and guidance when the going seems to get tough.

The only thing left is to contact your cloud accounting expert and make the switch today!

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