Cloud computing provides access to business data and applications from anywhere, at any time, on any mobile device—all at a reasonable price when compared with the cost of hosting servers in-house.
The cloud provides small businesses with mobile access to data and helps them be more competitive within their market.
Cloud applications are browser-based and accessible from desktop and mobile devices. For around $10/month vendors such as FreshBooks and Zoho offer cloud-based starter packages suitable for freelancers and sole proprietorships, including invoicing, expense tracking, and simple reporting.
Cloud-based accounting applications are compatible with Android or Apple smartphones and allow the user to access their accounting data, send invoices, and track expenses while on the go. Accounting software vendors, such as YNAB and Quicken, are able to offer better incentives and upgrades with their cloud products than traditional bookkeeping software, and can potentially save your business time and money.
Why Cloud Computing Can Save You Money
Staff savings
You no longer have to staff and manage a team of in-house specialists to install and update software, manage email and file servers, or run backups. The convenience of cloud computing is that you pay a small monthly fee, and the business of maintaining the service or application is the responsibility of the cloud vendor.
Hardware space savings
You no longer have to run software updates for your own network. Instead, you can host business data in the cloud and save your own hardware space for sensitive data. Plus, your computer will run faster and more efficiently.
Application consolidation
You may be able to consolidate your separate application needs into one multi-application, cloud computing service:
- Google Apps for Business includes email, calendar scheduling, Google Docs (for creating and sharing documents, presentations, and forms), and Google Sites for creating websites—all for just $5 per month per person on your account.
- Microsoft’s traditional office suite, which used to be only available in downloadable desktop versions costing hundreds of dollars, is now available in a cloud-based version known as Office 365. It’s sold by annual subscription and also includes online video conferencing and instant messaging connectivity. Not surprisingly, Office 365 is now outselling the desktop office suite.
- Other cloud computing vendors such as Infostreet provide a suite of cloud applications including CRM, calendar scheduling, email, conference calling, file sharing, and an employee directory for as little as $10 per month per person on your account.
System hardware cutbacks
File storage, data backup, and software programs all take up a lot of space on servers and computers. With cloud computing, you use the vendor’s servers to store this data instead.
Time savings
Cloud computing applications are regularly updated, so you don’t have to spend time and money doing it yourself. This gives you the advantage of always having access to an application’s latest features and functions.