11 Reasons Companies Will Move Their Accounting To The Cloud in 2016
•Download as PPTX, PDF•
0 likes•393 views
Find 11 reasons why many companies will move their accounting to the cloud in 2016 (or beyond)!
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to 11 Reasons Companies Will Move Their Accounting To The Cloud in 2016
Similar to 11 Reasons Companies Will Move Their Accounting To The Cloud in 2016 (20)
More from Dean Dorton Software Team
More from Dean Dorton Software Team (11)
Recently uploaded
Recently uploaded (20)
11 Reasons Companies Will Move Their Accounting To The Cloud in 2016
- 1. 11 Reasons Companies Will Move Accounting To The Cloud in 2016
- 2. This presentation will NOT discuss
- 3. Agenda • Introduction • Who Is Changing • Reasons • Options • Resources • Q & A
- 4. Massey Consulting • Intacct Premier Partner • Intacct Presidents Club – 2014 and 2015 • Silver Microsoft Partner • Founded in 2002 • CPA’s, Accountants, Controllers • Clients all over U.S. • Small Business Award
- 5. Philip Massey, CPA • B.S. – Accounting - 1992 • CPA in NC since 1994 • 20+ years experience in accounting software • Bookkeeper, Controller, CPA, Accounting Mgr, Auditor • Blogs and speaks for NCACPA • UNC Fan & Disney Nut!
- 7. Personal Computer Introduced Windows Hits Mainstream Cloud Computing Emerges PIVOT POINTS…
- 9. According to a study of accounting software by Vital Analysis, on average eight to ten percent of the financial accounting software market turns over annually. In 2010, there were 27.9 million small businesses. That means nearly 3 million small businesses will change their software each year.
- 12. INEVITABLE…
- 13. What if…
- 14. Or maybe…
- 15. INEVITABLE… According to a Forbes report, the cloud accounting industry grew to a 1.7 billion dollar industry in 2014. By 2016, this is expected to increase to 2.16 billion dollars. In the July 2015 TrustRadius.com accounting software survey, cloud solution users out-paced on-premise solution users for the first time in history. Further, a higher percentage of on- premise users are now more likely to consider cloud accounting solutions when they replace their current software.
- 16. INEVITABLE… July 2015 TrustRadius.com survey
- 17. INEVITABLE… July 2015 TrustRadius.com survey
- 18. How did we get here?
- 20. ANYWHERE…
- 21. ANYWHERE…
- 22. ANYWHERE… The cost of snow days for businesses is nothing short of astronomical. In 2010, snow days cost the federal government $71 billion in productivity—each day! Cloud accounting has enabled countless businesses to provide their employees with remote access. For cloud savvy companies, remote access means much more than email and availability by phone – it often now includes accounting!
- 24. CONNECTED… A connected system that integrates easily with other cloud-based systems helps an organization eliminate time-consuming manual processes and take full advantage of the connectivity and digital features of today’s smart devices and applications. Cloud accounting systems do not generally give end users access to the database since multiple companies are hosted in one environment. Therefore, they MUST have a very robust API to allow for programming and connectivity.
- 27. SELF-SERVICE… Self-service access to reports and user-friendly editing tools are a familiar characteristic of cloud financials. Finance teams can easily create reports and make them available to others in the organization for rapid access to up-to-date financial and business metrics. Self-service relieves the accounting department from having to do manual reports in another system, then download them and send them to the managers. They run them when they need them or they schedule them to run automatically.
- 29. AUTOMATION… Established organizations often find it hard to respond because their processes are rooted in passing paper forms and documents from one department or organization to another to get things done. A single, connected system that integrates easily with other cloud-based systems helps an enterprise eliminate time- consuming manual processes and take full advantage of the connectivity and digital features of today’s smart devices and applications.
- 31. COLLABORATE… Organizations making a move toward collaborative accounting would do so based on the perceived benefits associated with such a transition. Among these potential benefits are: • real-time information and reporting • reduced costs • enhanced accounting functionality • increased security
- 32. COLLABORATE…
- 33. COLLABORATE…
- 34. COLLABORATE…
- 35. COLLABORATE…
- 37. VISIBILITY… If the business doesn’t have a financial view of day-to- day operations, it can’t control spending or margins effectively. When financials run in the cloud, the data is available in real-time to stakeholders wherever they are. Putting finance into a business context allows far more accurate monitoring of how the business is performing.
- 38. VISIBILITY…
- 40. VISIBILITY…
- 42. SECURITY… +
- 43. SECURITY… According to Sys-Con Media, the cloud based security services industry is expected to reach $3.1 billion by next year. Cloud accounting vendors are keenly aware of the risks they face and spend millions of dollars each year on new equipment and technologies to protect their systems – FAR more than any one small or medium business can afford to spend.
- 44. SECURITY… PHYSICAL SECURITY – Armed Guards, CCTV, Retina Scanners, Background Checks, “Plain” Buildings HARDWARE SECURITY – Intrusion Detection Systems, Hardware Patches, Replace Dated Hardware EARLY SOFTWARE SECURITY – Malware Detection, Virus Detection, OS Patches, Database Patches, Unix, Oracle
- 46. INDEPENDENCE…
- 50. MAINTENANCE… NO SOFTWARE NO HARDWARE NO HASSLES
- 51. MAINTENANCE… NetSuite – TWO releases per year Intacct – FOUR releases per year Acumatica – TWO releases per year
- 53. Small Business… Courtesy of TrustRadius and G2 Crowd websites.
- 54. Larger Small to Enterprise Level Business… Courtesy of TrustRadius and G2 Crowd websites.
- 55. G2Crowd.com Courtesy of TrustRadius and G2 Crowd websites.
- 56. TrustRadius.com Courtesy of TrustRadius and G2 Crowd websites.
- 57. TrustRadius.com Courtesy of TrustRadius and G2 Crowd websites.
- 58. 11 REASONS…
- 61. Philip D. Massey, CPA (919) 508-6062 pmassey@masseyconsulting.net Questions or Comments?
Editor's Notes
- And as you grow, Intacct is there with you. Our capabilities can meet your needs as you add revenue, acquire or partner, expand internationally and even go public. In the last 2 years, the #1 IPO of 2012 and the #1 IPO of 2013 YTD run on Intacct. Ours is a partnership that can take you all the way. We understand the needs of high growth software companies and are exclusively focused on financial management. It’s all we do, and we’re the best at it. Intacct’s flexible architecture (the one that enables the multi-dimensional analysis), was built for the cloud and is infinitely scalable and changeable to meet you needs. In fact, we are constantly improving it ourselves. Our innovation team launches a new update once per quarter. It’s seamless to you. That rate of innovation is 4X what other players in the market are doing.