As an SME, you’re not chasing the next big thing in tech. You’re focusing on what matters – running your business and doing it well.
But what if cloud-based finance isn’t a flashy new trend anymore. It’s become the smarter, safer and more flexible way to get the most from your resources and adapt to the needs of today.
In this article, we’ll walk through why cloud might be one of the most valuable upgrades your business can make.
Cyber Attacks Are Getting Smarter
According to recent government findings, 82% of businesses reported experiencing some form of cyber incident in the last 12 months.
When cloud first came along, some people were understandably sceptical. But the reality today is that cloud is one of the safest places your data can live because of its security features and automated maintenance.
Reputable cloud providers also invest billions into security technologies and teams of cybersecurity experts. That’s a level of protection which most businesses will struggle to replicate with an in‑house server tucked away in a cupboard.
You also get the benefit of:
- 24/7 threat detection
- Multi-factor authentication
- Regular automatic backups
- Real-time security patching
The shared responsibility model means that when you use cloud services, you delegate some security responsibility to the cloud provider. The share of responsibilities can vary, so make sure you understand this when selecting a cloud service.
Remote Working is The New Normal
Expensive remote access servers and temperamental VPNs used to be the only way to make working from home possible, but those days are behind us.
With cloud-based software, users can log in anywhere and anytime. All you need is an internet connection and a laptop, tablet or smartphone. Meaning you can access dashboards and approve invoices, even while you’re traveling, on-site or away at meetings.
Everyone works from the same live data, no version chaos and no “who has the latest numbers?” Just smooth collaboration, regardless of where they are.
We’ve personally seen the benefits ourselves at PKF SCS, as moving to online systems has allowed us to expand our talent pool and customer base across the UK.
Getting Your Business AI Ready
AI workloads can be heavy and complex, requiring more advanced computing power and robust infrastructure than what’s traditionally offered with on-premises environments.
To allow for the rapid processing of large datasets, AI requires:
- Seamless data integration and retrieval
- Storage for vast amounts of data
- GPUs (Graphics Processing Units) and TPUs (Tensor Processing Units)
- Real-time data pipelines
- Robust security and compliance
Cloud platforms are built for this. They have the infrastructure, power and security that AI requires, and both are continually being developed in the tech world, so they naturally go hand in hand.
If you’re unsure where to start, Microsoft have created an AI Readiness Wizard, to help you identify your next steps.
No More Hosting Headaches
Hosting software on your own server may seem cheaper upfront, but when you factor in maintenance, hardware and paying for capacity you don’t always use, the true expense becomes much clearer.
Cloud platforms offer variable consumption plans to suit your needs, enabling you to make your money go further. Plus, you’re free to add new users, locations or entities as you grow, without costly IT upgrades.
The hosting is all taken care of you, so you don’t have servers taking up space and expensive hardware to worry about. When it’s time for a software update, these are rolled out automatically without downtime, preventing the vulnerabilities that come with outdated software.
Another misconception is that cloud is all about lowering IT overheads. While this is a big advantage, there are lots more benefits, including better insights, faster reporting and the ability to integrate with other systems you use.
Meeting Sustainability Goals
If your business has sustainability goals or wants to start setting them, moving to the cloud is worth consideration.
Migrating storage-heavy workloads to the cloud can reduce carbon footprint significantly compared to on-premises data centres, by consolidating workloads into energy-efficient data centres.
How cloud accounting can help with sustainability:
- Efficient use of hardware through virtualisation and multi-tenancy
- Reducing physical hardware waste from individual businesses
- Supporting remote working, reducing pollution from commuting
- Cloud providers continually invest in energy efficiency
To minimise environmental impact, users should also take their own steps to operate more sustainability, such as tracking and reporting carbon metrics and minimising the amount of unused data stored.
Finding Your Cloud Solution
We know that every business is different, that’s why we offer 3 different cloud solutions, Sage Intacct, Sage 200 Standard and Sage 200 Professional hosted with Microsoft Azure. The best option depends on your business size, processes and goals.
If you’re unsure which is right for you, send us a few details in the form and we’ll arrange a chat with you.
