Accountants - the Friends for Start-ups

Finance & Investment

Feb 21, 2019

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Everything is getting tech-driven, and so is the financial services, and now we have a hot cake in the corner called “cloud accounting.” Cloud accounting is more like traditional accounting with the following profound differences:

Data regarding the company’s finances are processed and stored in a server or simply called “cloud.” The technology prevents data leakage or data corruption. The financial data are subjected to breaching if it is stored in one system.
It enables people to access data on a single platform using a unique password.
It is available online and not available for installation. The cloud accounting softwares are cheaper, and the monthly subscriptions are lesser than the amount to buy a traditional software.

Cloud accounting draws the line between the poor and outstanding services. Being tech-friendly, the clients themselves keep monitoring the account every day and can get regular updates. The clients can also replace the outsourcing agent, which will keep the Chartered Accountants in Slough in line. With the introduction of cloud accounting, the firms will have to compete with one another to earn customers. It is more like the “Survival of the fittest,” where the strategies to survive by an accounting firm are: quality services, added benefits, and flexible financial advice or guidance.

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