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3 Reasons Why Cloud Accounting Is “The Future”

Did you ever come across a group of elementary school students, playing with their smartphones and giggling among themselves? Then you thought how things were so much different when you were around their age?

I am pretty sure we all had a similar moment, when we suddenly realize how much technology has evolved during our lifetime. I remember learning to use floppy discs in my elementary computer class but now even USBs are fading away as faster internet access allows cloud technology to become more advanced.

Sooner or later, SaaS (Software as a Service) - web-based application and software, will change the landscape of doing and managing businesses, including accounting and finance. Therefore here are three reasons why cloud-accounting is “the next big thing” for businesses. 

1) Automate, Automate & Automate

Yes, it’s this one word that created many brilliant and groundbreaking inventions. Let’s face it, humans are lazy but luckily we are intelligent. Which is why we are always looking for products to simplify our tasks -  to save us the most time with the least cost.

When calculators began to automate basic calculations, it was much faster and effective method of doing the exact same task.

When Excel could calculate much more complicated calculations with a simple input of its function, it changed the basic requirements to be an accountant.

However with cloud-accounting such as Pymlo, it’s not just calculations that can be automated. It can automate the whole accounting department in much cost and time effective manner.

2) Sharing is Caring

Let’s first think for a second - why is social media so popular?

Because it enables us to share.

Need of communication is an essential part of our social life. We talk, share photos, upload videos and chat with people to communicate our thoughts, feelings and emotions.

For business, effective internal and external communication is one of the big formulas of its success. Imagine how it would be, if a fashion designer was to communicate his new dress design to a manufacturer through a phone call. Instead, he can share a folder online, or even design with them in real time with his manufactures through internet.

Similarly, Pymlo (cloud based accounting software) allows multiple users at once, so the owner and the accountant - or anyone in the business can update, share and analyze accounting information together.

3) The Truth is Jungle

From typewriters to printers. Papers and pens to Microsoft Excel or others alike. We didn’t begin to use them because they had nice designs or logos on them, but because they were much faster and effective.

In the beginning when those technologies were introduced, we may had a choice. Choose to either use them or not. However as they became more and more deeply associated and engaged into our days, we had to adapt these technologies to stay competitive and fill the needs of changing demands - adaptation is a key to a long-term success. Therefore as I mentioned earlier, sooner or later it will change and you will have to adapt too.

You may feel skeptic to transform your accounting methods to a new one. But the irony is, we are all skeptic to new changes at first. However, when we finally adopt something, we wonder how we could live without it.

Wow! This post is amazing!

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Woo Jin
Woo Jin
BSBA student at Webster University Thailand Marketing and Copywriter At Pymlo - Cloud Accounting for Asia

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