To the small and mid-sized enterprises, managing the finances and accounting is one of the most cumbersome tasks. QuickBooks Enterprise is an effective tool designed for accounting that allows tracking income, expenses, inventory and others.
As of recent years, QuickBooks has venture into the cloud solutions. QuickBooks Enterprise Solution also has an online version which includes all the features of QuickBooks Enterprise along with the benefits of storing data in the cloud and accessing the software.
In this article, the author identifies five major advantages that include the use of QuickBooks enterprise cloud based for growing companies.
Universality
It can be said that QuickBooks Enterprise is implemented in a cloud model, implying that QuickBooks Enterprise is housed on servers that belong to Intuit.
As such, users are able to get information about their finances without physically having to be in a certain place as all they need is to log into their accounts.
Whenever there is access to the internet, they can input purchases or view the accounting dashboard from home offices, job sites, or even across the world.
Automatic Updates
Intuit is in the process of introducing more advanced features and enhancements to online payroll QuickBooks. However, in the case of a desktop installation, firms usually do not update their AP or do not upgrade to a newer version as frequently as before.
Here, with cloud-based solution, it becomes easier since changes happen on a regular basis without the need for users to install updates manually. That way the company is able to leverage on optimization and new capabilities the moment they are out in the market.
That relieves internal IT teams from having to worry about accounting software deployments on other projects that are important.
Data Security
Firstly, some of the stakeholders were apprehensive about migrating critical financial data to the cloud infrastructure. However, Intuit employs advanced security measures such as data encryption, user access controls, multifactor authentication, application hosting and controls, SOC 2 type 2 attestation and audits, to safeguard cloud-based data to the maximum extent.
In fact, it has been argued by many specialists that cloud solutions are more effective against threats such as data leaks than managing servers on the company’s own, particularly for startups that may not have access to a large number of IT specialists.
Scalability
In contrast to the desktop applications, cloud solutions are rather flexible, and it is easy to scale them up or down according to the needs of the company.
With QuickBooks Enterprise, cloud-based accounting implies that capacity can increase to accommodate more transactions, additional locations, or users at a lesser price of on-premise solutions.
For instance, during times of increased usage and storage demands such as during the tax season or the holiday season, extra resources can be provided seamlessly. Similarly, with time spanning months and years, further activity amount is processed without any intervention as the company evolves.
If needs do grow different or the business do merge, capacity may also shrink in equal manner. This enhances flexibility of the system helps to reduce strain on accounting during changes in activity levels.
Affordability
As mentioned earlier, QuickBooks Enterprise has enhanced features compared to the other QuickBooks editions, and transitioning to the cloud also incurs lower costs for access and administration.
This means that instead of paying a lump sum for a license like in traditional software, cloud-based subscriptions can be broken down into a monthly charge per user.
This pricing strategy is more effective when it comes to subscription pricing and offer a higher level of flexibility in cost from one month to another. It also takes care of all hosting responsibilities and IT which in turn are passed to the subscribers at a much lower cost.
Conclusion
QuickBooks Enterprise already boasts of great accounting features, inventory and reporting for mid-sized growing businesses. The fusion of the extensive feature list associated with the Enterprise edition with the accessibility and pricing model of a cloud-based platform provides dynamic businesses with financial software suited to their requirements.
In accessibility, convenience, updating, data safety, modularity, and total cost, any business can stand to gain. That is why operational in the cloud QuickBooks Enterprise is capable of supporting better financial decisions and more effective strategies.
