Accounting is the backbone of any business organization. If it is not managed properly, it can cause irreparable loss to the organization, leading it to shut down the setup. Technology has improved and enhanced the functioning of each and every field of life, and accounting is not an exception. Cloud accounting is the innovation of technology that has allowed freedom.
Cloud accounting helps the concerned authorities to manage their accounting affairs without being limited to the company’s physical setup or their official systems. They can access the data and record from anywhere and make use according to their needs and requirement. The technology was introduced around two decades ago; however, it is actively being used since the last decade.
The western world has already shifted to cloud accounting service, but the rest of the world is trapped in myths about it. The companies in the UAE are also ignoring the myths and making use of it. A vast majority of organizations hire the services of best accounting firms in Dubai and ensure to make most out of new technology and boost their profits.
This article will discuss some common myths about the cloud accounting service, which you should never believe, as well as uncover reality for you.
Top 5 Myths about Cloud Accounting Service you should not believe
Technology is easing the life of human beings. However, few conservative people in every society do not want others to progress, as it will limit their progress. They make the people believe in misconceptions and reap the benefit of their ignorance. The same is the case with the myths about cloud accounting services, which does not hold an ounce of truth.
The following are some of the most common myths about cloud accounting service, which no one should believe.
1. Expensive than Usual Service
The very first myth about cloud accounting service is that it is much more expensive than the usual accounting service. This is the myth that hinders the small and struggling organizations to handle their accounting affairs through cloud set up and rely on traditional systems.
Truth:
The truth is cloud accounting is not expensive at all. Moreover, keeping in mind the benefits and profits it provides to organizations saying that it is cheaper will not be wrong.
2. Nothing More than Technology Fad
A number of new products and services, based on modern technology, are introduced in a different part of the world on a routine basis. Some of them become an instant hit, while others get time to build their reputation. People believe the myth that clouds accounting is also nothing more than a technology fad.
Truth:
The truth is cloud accounting is not a technology fad. It has been in use for the past two decades. It is here to stay as it is significantly lowering the burden of companies in remote management.
3.Not Suitable for Small Business
The third most common myth about cloud accounting service is that it is not suitable for small businesses. This myth has been circulated by the people who do not want to see emerging small businesses make more progress and enlarge their setups. They fear their own stability, thus promote such myths.
Truth:
A number of small, medium and large business organizations are making use of the service around the globe. It helps them stay in touch with their important data remotely and do not leave important decisions pending due to it.
4. More Security Threats
A fourth common myth about cloud accounting service is that it is prone to more security threats. People and organizations believe that due to cloud storage, everyone would have the liberty of accessing their data. Even if it has a privacy setting, it will be exposed to hacking threats.
Truth:
The truth is cloud accounting is secure and safer than traditional accounting services. The users can ensure the security of data by trusting the right cloud accounting software, which is protected by expert security.
5. Problematic Software Integration
The fifth myth most of the business organizations believe about cloud accounting service is that it faces problems in software integration. Some people think that it will ruin their data, and they will not be able to recover.
Truth:
Software integration is not an issue in cloud accounting services. Strong systems and services have the ability to integrate into the setup of organizations and allow the same with other systems of the work setup.
Did you also believe these myths?
It is unfortunate that you lost your valuable time believing these myths, which you could have used in ensuring the progress of your organization. However, it is never too late to correct your mistakes. You still have an opportunity of incorporating cloud accounting and boost the progress of your organization.
You can hire the services of the best accounting firms in Dubai and choose the best cloud RIS accounting service with the help of experts. You can also ensure that your data is well protected and secured by the use of expert service.
Try to compensate for the loss of your precious time by adopting the services as soon as possible. Consult the experts if you have any ambiguity or issue.
