5 Ways Virtual Accounting Accelerates Business Growth
Businesses that have employed the same traditional bookkeeping firm or accountant for years aren’t just missing out on all the benefits virtual accounting affords, but it could be slowing company growth, too.
Traditional bookkeeping involves a long process of finding the right external firm or hiring an in-house bookkeeper, both of whom you must trust with your company’s most important information. Once a bookkeeper or firm is chosen, they’ll need constant monitoring and managing – time better spent in other areas of a business.
The costs and antiquated procedures of traditional bookkeeping aren’t worth the hassle – which is why more and more businesses are turning to virtual, cloud-based accountants.
Here are four other ways virtual accounting can be a boon to your business and accelerate growth:
You don’t need a bookkeeper for this simple equation: lowering costs equals more profitability.
Virtual accounting allows you to sign up for the business services you require, nothing more, nothing less. You pay for exactly what your company requires, without a penny wasted. If you hire an in-house bookkeeper, you’re paying a full-time salary, plus employee benefits, social security, costs of training, etc.
With cloud-based accounting, you don’t need a bigger office space or more supplies – you just need a decent Wifi connection.
Why brave hours of rush traffic to your accounting firm downtown for a 15-minute meeting that could be done at home?
As a business owner, you know how disruptive it can be having to consult and meet with your accountant in the middle of the day to sort out odds and ends.
Virtual accountants can connect with you at any time of the day (unless they’re sleeping) at your convenience, saving you valuable time that would be otherwise wasted sitting in your car listening to AM radio.
Instant Access, Fast Response Time
Cloud accounting can help you optimize the financial aspects of your business, freeing up time to pursue and improve other areas of your business. Fast access to all your pertinent financial data means you can make well-informed decisions quicker, allowing you to strike a deal before a competitor does.
If you need consultation on business decisions, your virtual accountant is just a few clicks or a couple of taps on your smartphone away.
The top cloud-based accounting software on the market is highly secure. Most incorporate bank-level security and encryption, so you can rest assured all your financial data is safe.
Work with the Best
If you live in a small town, your traditional bookkeeping firms and accountant pool may be limited.
You don’t want to settle for a bookkeeping firm or service based on geography. Virtual accounting isn’t limited by geographical boundaries, allowing you to hire the most reputable service you can find or the best fit for your business.
Still not sure if virtual accounting can help your business? Call us for a consultation and we’ll discuss how a switch to cloud accounting services can improve all aspects of your business, not just the financial side.
And if you’re ready to go virtual, check out our flat-rate virtual accounting packages for small- to medium-sized businesses.