If you are considering doing the accounting on cloud-based systems, you might want to think again. Although some are turning away from off-the-shelf accounting software, there are still many solid reasons why they are more
Advantageous for your business than online accounting solutions.
1.Cost
The low cost to get started with cloud accounting is a new way enticing but, have you ever considered that the long-term need recurring cost to host the system could be a liability to Accounting software connects your company? Getting server-based software might indeed be costly at first glance, but you can save a fortune many years down the road.
Do note that cloud accounting solutions charge per company, unlike MYOB Premier Singapore accounting software, which allows you to do accounting for five companies (you can top up to 100 companies with additional cost). So a quick calculation will tell you that online software is pricier than you think! Also, do you know that the hosting fee for cloud software is subject to increment? The chart below shows how much you will have to pay for the many different software if there is a 10% increment of hosting fee per year than more storage.
Forking out a lump sum for server-based accounting software can be painful in the long run; cloud accounting software can revolutionize the efficiency can be deadly. If cost is your one of your concern, MYOB Singapore accounting software is offering installment plans; so you get to enjoy some number of benefits of server-based software at a comparable to cloud accounting software solutions!
2.Ownership
Accessing data with a cloud system is convenient, so you get to access your data on the go. However, there is always a risk with storing your data outside of your server. The service provider of the cloud system decided to stop operating; what is happening to your database? Yes, people might have regularly highlighted that you can back up and restore your data, but where can you replace your data? The data format is different, and also it is not easy to migrate to other accounting systems.
3.Customer Service
If you pay peanuts, you get monkeys. Cloud is affordable, attractive, but when you require support, which is going to be there to assist you? Over the years, there is a constant complaint of poor support service provided by the cloud service provider. The reasons, the response time is slow, businesses require a rapid response, but this will affect their daily operations. Also, it does well known that they will only be able to provide remote support. MYOB Singapore Premier accounting software will be able to customize our service to best suit your needs. Be it software training, technical support of data migration but still, we will be able to guide you through various software platforms.
MYOB brings customer service beyond your computer screen!
4.Cyber Security
You are exposed to data mining software techniques when you store data in the cloud. Cyber Security has been a long-prevailing issue. While you can access your personal information online, you face the potential risk of others doing the same problems. Your provider security might ensure you that your data is safe with them; it is still risky as the best security systems failed from time to time. Your competitors might steal your data are fabricated the reports sabotage your business. Cybercriminals might hold your data hostage with ransomware. You put yourself at risk when storing your data in the cloud. Every strong industry player has been hacked in the past take, for example, Yahoo and Apple how it is to say you won’t?
5.Connection issue
Internet is not always at its top-notch condition, at the times where we face connection issues. When your internet service provider suffers from slow speed, it will affect your daily operation. It is not just a poor internet connection you have to worry about; a cloud server connection will also affect your business. If your cloud server is down, your business will not be able to daily operations at all, which is worse than a poor internet connection.
6.Inventory and Payroll
Online software is generally weaker when it comes to their inventory and payroll systems. While you can choose to connect to the externals app with the features you need, they tend to comes with a large price tag. MYOB Singapore Business Solutions includes accounting, invoicing, inventory and payroll to ensure smooth integration between modules multiple software.
