Cloud accounting is a concept that is gaining gradual acceptance in the small business community. According to a 2017 report released by B2B network company Viewpoint, about one in every five small business owners have embraced cloud accounting in their enterprises. This figure may or may not increase in 2018. On the one hand, cloud accounting may seem challenging to adopt for businesses that are accustom to manual spreadsheets. On the other, it has numerous benefits that supersede, in some eyes, the cost of implementation. Cloud-accounting firm Sage is one company that believes in the latter.
The Product Made for Small Businesses: Sage Business Cloud Accounting
The Sage Business Cloud Accounting product, formerly known as Sage One, is a cloud-based platform that allows businesspeople to manage their finances using a multi-option, multi-use system.
A report by nonprofit organization SCORE in 2017 showed that one of the greatest problems for startup managers is streamlining the accounting process for their companies. According to the report, headaches and time related to administrative issues such as bookkeeping and tax payment represented about 13% of their business-related stress. Using the Sage accounting cloud suite would enable startup owners to streamline these processes, share this information in real time, and generally manage their businesses better. It would lessen the physical, mental and financial burden of management for startup owners.
Additionally, the Sage accounting product would free up a lot of time which business owners could dedicate to developing their companies and products. On average, the SCORE report showed, small business owners spend 41 hours on tax preparation for their firms annually, excluding the hours spent over pouring over and reconciling their books. By using the Sage accounting cloud suite, small business owners would be choosing an automated accounting option, allowing them more time for networking, production, and expansion of their enterprises.
Affordability and Accessibility
Sage accounting products begin at just $10 per month for the “Accounting Start” package. There are also other options to choose from if you have a large-scale company. With prices like these, business owners of all sizes don’t have to worry about breaking the bank, and have the opportunity to grow into a variety of solutions. Business owners can even “try before they buy” the cloud accounting service on a 30-day free trial basis, after which users can upgrade to professional membership if they like. If you are a small business owner looking for a way to improve the manageability of your finances, now would be the time to try out Sage’s cloud accounting platform. It’s never too late to start enjoying the benefits of cloud accounting, but it won’t hurt to start enjoying them today.