As part of our series of case studies (the first of which you can download here) – it’s been great to hear recent feedback from Waypoint customers about moving their businesses to the cloud. Adopting cloud-based solutions has made a noticeable impact on their business operations.
“The transformation to our bottom line has been incredible,” explains Daniel Malton of Symettry Commercial.
Typically, small business owners have limited resources, and tend to juggle several different roles. So it’s important to have the right tools available that can eliminate errors and inaccuracies by automating as many regular tasks as possible.
ABS statistics reveal one in four start-ups close down within their first year, in many cases due to poor financial management.
The failure to fully control and monitor data held in spread sheets and databases leaves businesses exposed to risks from issues such as broken formulas, cut-and-paste errors, data governance and security issues and manual data entry mistakes.
The fastest growing small to medium businesses make extensive use of cloud technologies, according to research by Deloitte in 2014 into business operating practises. In fact, the findings revealed that businesses using an above average number of cloud services grow 26 percent faster than those that use no cloud tools at all.
They are also 21 percent more profitable.
Here are three of the main benefits of cloud-based automation:
The cloud offers total mobility – you can access your live financial data from anywhere at anytime, which every small business owner knows is essential.
Cloud-based accounting systems offer a higher return on investment (ROI) as there are little or no hidden costs. Users only need to pay a subscription, and invest in implementation and training. Software upgrades are installed automatically, saving time and maintenance cost.
Optimise customer service
Cloud-based software solutions can track the entirety of the customer journey, from initial contact through to completed project, providing an easily accessible view of comprehensive data to optimise the customer experience.
Deloitte’s research revealed that 69 percent of respondents expect to increase their use of cloud-based technology over the next few years.
Good quality data management is fundamental to the success of a business. Cloud-based accounting systems provide business owners with the tools to automate and streamline everyday processes, with enterprise-grade technology that would previously be financially out of reach.
In our modern business environment, we can’t think of any better reasons to make the move.
Contact us today at Waypoint to discuss the benefits of a cloud-based system for your business.