It’s fair to say cloud computing has changed the way small businesses operate forever.
The general public might know about companies like Dropbox, but there are thousands of others specially designed to accommodate much narrower needs.
Some of these companies are worth a tremendous amount of money, and we’ve seen a perfect example of it recently. Oracle has finally acquired NetSuite for nearly ten billion dollars.
I’m sure you’ll agree it’s no small pocket change, so Oracle must have huge plans for the company. Do they happen to know something you don’t?
Small Businesses Are Losing Out
It’s obvious NetSuite already has a large base of customers that can’t live without their services. We already know because they’ve told us the numbers. We also know a company doesn’t get sold for 9-figures if they’re not profitable.
Unless you’re Tumblr, but that doesn’t count. It’s obvious Yahoo are a little crazy.
It still doesn’t mean all small businesses are taking advantage of the opportunities afforded to them through these cloud services, which is a shame as they’re missing out.
Cloud accounting is an example that could be so helpful, and it’s a service NetSuite offers. We’re going to look at its benefits to show you why Oracle are spending so much money.
1. Saving Lots Of Money
We all know a business has to scale if it’s going to become huge, but at the same time it’s got to keep costs under control too. It doesn’t help when you need to spend a lot of money on the payroll department.
Let’s say you’ve got sales teams and you need to track the individual commission for each employee. Cloud accounting software will do it automatically without the need for you to hire outside help to provide technical support.
2. Less Variables To Deal With
If you want to speed up the growth of your business it’s better when you’re dealing with less variables. When there is less things that can go wrong, it’s easier to focus more of your energy on what is important.
One easy way to do that is to automate your business. You can’t automate everything, but there are certain tasks you can leave software to deal with.
Talk to anyone running a business and they’ll tell you consistency is key. If you can be consistent it will free up more of your time. No human will ever be as consistent as a computer, plus when you’re dealing with cloud software it’s completely hands-off maintaining it.
3. Ability To Collaborate
This isn’t the only thing businesses use to collaborate in the cloud as I’m sure you already know. The ability to connect with people in the easiest way possible to propel a business forwards.
When collaborating on accounting-related activities you’ll save a tremendous amount of time and effort. It’s much better when everyone knows exactly what is going on because they have instant access to what their fellow employees are doing.
Cloud computing services let people access information from anywhere in the world, so two people collaborating don’t even need to be in the same country. It’s superb for businesses with employees working from home.
4. You’ll Be More Flexible
You can buy accounting software for your business and run it in-house, but it doesn’t offer you the same flexibility. The only positive is the fact you’ll be able to update the software as new updates are released, which doesn’t sound too special.
At the end of the day, you’ll always have to fit your business around the software. Even if you look hard and choose the right one, it might not be ideal and things change.
Cloud software really goes the extra mile to fit your business as best as possible, so it’s the complete opposite of what we’ve previously mentioned. The added flexibility offers lots of benefits, but it’s another thing to help you make more money.
Don’t Miss Out On Opportunities
Oracle would never have purchased NetSuite if it didn’t know these cloud services would revolutionize small businesses.
If you think it’s good now, wait until you see the stuff they’ll come out with soon. That doesn’t mean you should wait around when you’ve got access to something capable of skyrocketing your business to success.
Hopefully you’ve never heard of cloud accounting before, because it’s one more thing you’ll be able to start using in the future when you are ready to grow.
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