More Functionality
If you have used a web browser or a mobile device you’re already working in the cloud. Cloud apps are evolving quickly. It may be due to our overwhelming acceptance of mobile technology and the resulting demand in mobile friendly apps. The last 5 years seem to have marked a turning point in general acceptance of software as a service, aka cloud apps. It’s easy to appreciate the freedom of working anywhere. I’ve even learned to use Excel on my mobile and I’ve typed a letter on my phone. It’s not ideal but easier than pulling out my notebook computer in some situations. If they’re saved on the cloud, I can open documents when I get to an office and finalize them for printing or electronic delivery.
Software as a service or SAAS is the industry jargon for cloud based applications but the term “cloud” is becoming more common. Cloud apps are quickly becoming predominant. Microsoft 365 is a cloud app. Use it in a browser on a Windows, a Mac, a mobile device or install it on your computer. Microsoft allows 5 installs. Dropbox and OneDrive are cloud apps for file storage. When you use a cloud app you are working in the cloud. Companies who adopt cloud computing do so to defray the investment and operational costs of on-premise infrastructure. To use SAAS software you need only have a computer and an internet connection. SAAS software is same whether you use it at home, in the office, or on your mobile. You don’t have to worry about installing updates.
Small Business Accounting
The move to cloud accounting has been slower. For many, the idea of putting their financial information online is uncomfortable. Of the software vendors competing in the Canadian small business arena most are steering customers toward their SAAS cloud products. It’s easy to see why, its costly to code and test software on multiple platforms. Small business owners can choose from QuickBooks Online, Sage 50 cloud, Xero, FreshBooks, QuickBooks Self-employed and Wave. Recently Oracle entered the fray, heavily marketing NetSuite as a step up from QuickBooks. I can’t comment one way or the other. All these apps are cloud-based. The advantage of cloud apps is that it doesn’t matter what kind of computer or phone you have. Cloud apps are designed to work on all of them.
Self-employed contractors can invoice customers before leaving a site, record a gas or supplies receipt by taking a picture of it. Character recognition and AI technology extracts the name and amount and classifies the expense automatically. The app will keep track of outstanding invoices and simplify year end tax filing.
Apps For Larger Businesses
At the same time apps for small business have proliferated so have those for medium business and not for profits (NFP). New technologies speed up labor-intensive tasks. For example, you can route supplier invoices to a special inbox where character recognition software catalogues it and places it in an approval queue. To reduce paper modern ERP software lets you drag and drop an document into a transaction where it can be easily viewed. Sage has spent the last few years refining a Intacct, a cloud-based ERP system which includes many great features that have been lacking in traditional ERP systems. Microsoft offers Dynamics 365 for larger customers. I only got a glimpse of it at the Microsoft event but it is integrated with Microsoft’s CRM by the same name to create powerful drill-down capabilities.
Privacy and Security
You may be hesitant about having your information in the cloud. Its important to note that services like Azure and AWS provide the equivalent of an on-site systems, but with better security and no maintenance. In the case of Microsoft Azure, your IT department can grant access according to company policy. In the case of cloud apps you designate a person within your company who assigned administrative rights and uses them grant or revoke access to the app and its associated data. Service provider staff do not have access to the app but may have access to the raw data for backup restore purposes.
To further ensure the privacy of your data service providers have implemented technologies like multi-factor authentication and features like password complexity and reuse policies, inactivity time-outs, approvals, role-based permissions and audit logs. They have world-class security, redundant equipment, and backup power.
Spreadsheets
Depending on the size of the entity it’s common to employ a variety of methods to track things you have to report on. If you can’t track it in the system you will probably use a spreadsheet. OneDrive and SharePoint offer a way to share a document between team members without the hassle of email. Use PowerApps to quickly create a mobile app that updates the spreadsheet in real-time. I created 3 mobile apps using PowerApps and it’s surprisingly easy. One of them is an event budget tracking app that is beautiful and easy to use. The secret to my coding skills is the PowerApps wizard and the ready made apps templates.
About the Author
Jim is a seasoned professional with over 25 years of experience serving the accounting and technology needs of business and not for profit customers. A graduate of the University of British Columbia (UBC) with a Bachelor of Commerce degree, he is a certified Sage Consultant and Microsoft Certified Systems Engineer. He specializes in identifying and implementing opportunities for accounting system improvements and developing insightful reports. Jim supports Excel, Sage, QuickBooks, EasyPay and others. Use the contact page to ask Jim a question.