As accountants we are well aware of the increasingly digital sector we’re in. It’s our duty to stay ahead of the game and introduce a myriad of working practices that make the financial side of your business smooth-flowing, effective and compliant. Working as a cloud-based practice is inevitable to some degree but we are keen to not lose the face-to-face part of the service that exercises our knowledge and expertise and really cements the relationship we have with clients. So how far should technology dictate the way accountants and their clients interact? After all, there are so many valuable benefits all round.
Cloud accounting really is 24/7, totally accessible and makes accessing reports and information very attractive. It’s also super secure – your information is usually protected by layers of clever security measures. All of your updates are automatic – as are your backups – so you’re never at risk of loss of information. As you’re renting software in the sky there is no initial investment, just an ongoing commitment to monthly payments which cover every aspect of use (including upgrades as we’ve mentioned). You can sign everything online and negate the need for unnecessary meetings. Obviously this speeds things up no end. And furthermore, you can use any operating system you choose, any IP, on any computer.
What you can’t do in the cloud is talk, discuss, ponder and air your business concerns. You can’t share a coffee, position your business in context and make sense of the many opportunities and options you may be facing. This is where a people practice comes in. At EBS we can’t stress this enough – we can manage everything online but we don’t get the best from our clients if we don’t see them. This is why we operate cloud-based solutions via a people-based practice. Furthermore you can’t actually determine the very best solution if you don’t know the circumstances, ambitions, plans and personalties involved.
Cloud based practices are an inevitability, especially since the launch of Making Tax Digital. So if we have this technology boom, we really need to take the best parts of it and learn to work around the bits that aren’t so beneficial. Let us determine your best routes for operating in the cloud, whilst coming back down to earth to meet with us periodically!