How Cloud Can Help with Accounting Practice Management

Practice management is one of the core functions of nearly every accounting firm. Practice management involves many of the typical functions involved in providing services to clients, including billing and invoicing, document management and more. It’s essential for a well-run accounting firm and for providing high-quality services to your clients. Fortunately, software and cloud computing can help.

The Benefits of Accounting Practice Management Software

For a modern accounting firm, have good accounting practice management software is a must. This software makes managing the firm’s caseload easier. It will allow you to track deadlines, what tasks are still outstanding, when tasks are overdue, and who is responsible for or performs each task. This provides complete visibility into the state of your firm and provides an audit trail in case of employee mistakes. It improves collaboration and efficiency. Accounting practice management software helps you provide better, more uniform service to your customers.

You’ll enjoy the following benefits:

• Access to a greater amount of client data, allowing your employees to easily contact them or view the status of their account. This reduces the amount of time employees have to spend reaching out to one another to answer simple client questions or figure out what has or hasn’t been done on the account.

• A reduction in errors from manual data entry. Practice management software automates many manual and repetitive tasks, which reduces the amount of time employees spend on manual data entry, improves data quality, and frees up your employees so they can focus on higher-value tasks.

• Better security and regulatory compliance. Many types of practice management software have built-in regulatory compliance. Cloud-based software offers excellent security because updates and security patches are pushed through automatically and employees are always using the latest, most updated version.

Cloud-Based Accounting Practice Management Software

Cloud-based software offers multiple advantages for a busy accounting firm. Unlike on-premise software that was later adapted for the cloud, cloud-based software like Sage Intacct is 100% cloud native. That means it was designed for the cloud. This means it can take advantage of all the benefits cloud-based software has to offer.

These benefits include:

• Anytime, anywhere access – Employees will be able to access your system from anywhere, at any time, as long as they have the right credentials and an internet connection. This means they’ll never be out of touch, and they’ll always have the data when they need it.

• Increased security – As previously mentioned, the cloud offers enhanced security benefits compared to on-premise software.

• Easier to maintain – For your IT staff, cloud-based software is often easier to update and maintain because much of the background work is handled by the software provider.

• Faster to launch – Cloud-based software is often faster implement across your business. That makes sense since it doesn’t have be installed locally on multiple systems.

Introducing Sage Intacct

We specialize in working with Sage Intacct. It’s the first and only AICPA-preferred financial management solution. Sage Intacct is 100% cloud-based software. It confers all the advantages of using cloud software and helps busy accountants and CPAs provide top-notch services for their clients.

Please click the buttons below to learn more, download a white paper on the advantages of cloud-based software, or contact us to see what we can do for you and your clients.