Profit from online accounting software  

Accountancy and book keeping packages are now available online. And businesses stand to gain much by using them, says Mark Davies,  of e-conomic.

The market for software as a service (SaaS) is catching on fast. With such obvious business benefits, there’s good reasons to use SaaS accounting and book keeping packages.

Related: A review of the best UK small business accounting software

Customer friendly

As nearly all online applications were designed in recent years they tend to be easier to use than more traditional accounting packages such as Sage. Using these programmes online also tends to be less costly than buying software as you only pay a monthly fee to access the applications and storage facilities.

Online service

The software and data is physically located on the servers of your provider, and can be accessed anywhere. While the service provider handles any software maintenance, upgrades, backups, and security – saving you time and reducing the need for in-house IT expertise.

Safer option

Many companies still remain distrustful of putting things as important as their accounts on the internet. But this needn’t be a concern. Having your accounts online means your l data is totally secure. For example, if your office burned down or your PC was infected with a virus, your accounts would remain safe and accessible.

The right provider

As with any purchasing decision, the first step should be to focus on your needs. Typical factors include implementation and maintenance costs, ease of use, features, flexibility, integration, customer support, security and scalability.

Quiz providers on the following points:

Security – is data encrypted during transmission? What are the data backup arrangements?
Credentials – how financially robust is the provider? Ask for references or speak to existing customers.
Service – check the service level agreement guarantees.
Support – who provides it and when is it available?

Try before you buy

One of the best features of online software is that you can take the software for a spin. Any good online software provider will offer you a free trial. It’s usually quick and simple to sign up and all you need is a web browser to get started – take advantage of these and have a play with the system to see what suits you.

See also: Best accounting software if you’re a sole trader

Leave a comment