Accountants Report a Staggering 93% Cost Saving By Using Cloud Services

Posted by Tracy East on Feb 24, 2016 3:40:17 PM

shutterstock_321885956.jpgImagine for a moment that you’re watching two top athletes preparing for a 100m sprint.

They’re both extremely fit and talented and have been training for years to reach this standard. But when the starting whistle blows, one of the athletes sprints off ahead, simply concentrating on his performance, his breathing - all the things that he knows he needs to nail to help him win.

The other athlete, you notice, is trying to do the same – but something’s getting in the way. He seems to wearing weights on his ankles. And while the first guy’s route ahead is clear, this one has hurdles to deal with. There’s debris on the track he has work around. Clearly this stuff is slowing him down – and yet nobody points it out. When the second athlete comes in second, he simply shrugs and says, “hey, I wasn’t the best this time, but there’s always room for improvement. I’m going to train harder and eat better and work longer and generally punish myself until I can run as fast as the other guy.”

You’d think that was nuts, right? You’d be looking at the weights and hurdles and debris and saying, “but Mate, if you just got rid of all that stuff that’s slowing you down, maybe you would be as good as the other guy?”

The frustrating thing is that this is exactly how so many companies think about their own performance. They obsess over bringing in more and more clients, about pouring in overtime, about securing deals that will get their turnover shooting sky high. They’re constantly looking at that finish line, thinking how hard they’ll have to work and how fast they’ll have to run to reach it.

They don’t see that, in fact, it’s their bloated and outdated working practices that are dragging them down. They don’t see the how the small effect of every inefficient exchange or delayed reply or 20-minute struggle to dig out a document or wasted time reconciling changes made to different versions of files by different team members is throwing all this debris in their way as they try to run. They don’t see that simply being chained to their desk instead of being able to securely embrace mobile working acts a new hurdle, every step of the way.

Sound familiar?

If so, it may be time to start exploring the benefits of cloud services to accountants, because these clunky traditional methods are exactly what will hamper your growth.

Perhaps you’re hamstrung by high running costs and the limitations of what your technology and infrastructure will allow? Concerned that hiring new recruits will multiply your space and hardware requirements? Or do you struggle to free up enough time to just think about your long-term growth strategy at all?

The benefits of cloud computing when it comes to overhauling your old accounting information systems are huge.

So huge, in fact, that 93% of respondents interviewed by Citrix on the benefits of cloud services said that they reduced their overall IT costs or cut down the specific costs of app, desktop and device management.

From a financial perspective, the benefits of could computing are obvious: by moving physical documents and workspaces into the cloud, and by freeing up employees to work from anywhere, you cut down your running, infrastructure and space costs, easing pressure on your cash flow and freeing up funds to help you be more nimble as a company in order to grow.  Plus adopting alternative working methods such as work-shifting or remote working creates new opportunities to cut down on real estate and associated costs, or grow headcount but not office space.

But in fact, the value goes way beyond pure profits. A more flexible workforce is typically a happier and more productive one, meaning that you can focus on helping your team get more out their day and turn around work faster instead of dragging out each day into exhausting, wasteful overtime.

Should you want to, you could even hire the very best people for the job regardless of location, allowing them to telecommute and seamlessly collaborate online with the team.

And, of course, by becoming more agile and responsive, or showing them the ROI of moving themselves to the cloud, you can delight your clients and secure their loyalty, creating mutual value helping your company to grow. What better way to give yourself a winning boost in a tough old race?

Want to hear more about the ROI you could achieve by moving to the cloud?  Click here to get in touch.

Interested in learning more about how cloud technology can help your accountancy firm to become more profitable and efficient? Download your FREE eBook, How Accountants Grow Bottom Line from the Cloud.

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Topics: Blog