{"id":4459,"date":"2020-10-22T11:12:37","date_gmt":"2020-10-22T11:12:37","guid":{"rendered":"https:\/\/www.exactlly.com\/blog\/?p=4459"},"modified":"2025-03-24T09:34:29","modified_gmt":"2025-03-24T09:34:29","slug":"how-startups-can-achieve-early-success-by-relying-on-cloud-accounting","status":"publish","type":"post","link":"https:\/\/www.exactlly.com\/blog\/how-startups-can-achieve-early-success-by-relying-on-cloud-accounting\/","title":{"rendered":"How Startups Can Achieve Early Success By Relying On Cloud Accounting"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The month of February 2019 feels proud to witness the emergence of more than 550,000 startups. The numbers without any doubt are higher in 2020. But 85% of the small businesses encounter failure due to the challenges associated with cash flow. The concept of startups is gaining much prominence even amidst the pandemic as it lets you be creative as well as remain completely in control. Profit generation at its best is possible when a small business powers itself with a robust accounting system. This guarantees the good management of cash flow. Sometimes businesses begin their accounting with the help of spreadsheets. However, this is a method that can pose errors &amp; needs a huge amount of manual errors.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The current era is witnessing startups utilizing <\/span><b>cloud accounting<\/b><span style=\"font-weight: 400;\"> for preventing costly errors, making better decisions, saving time, etc. Not just a small business can be on track but also manage the business finance perfectly with such cloud solutions.<\/span><\/p>\n<h2><b>How is cloud accounting beneficial for startups?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\"><b>High-end security<\/b><span style=\"font-weight: 400;\"> \u2013 Usually small businesses tend to store data in their local systems. But it is quite risky. This is because not just employees can make some errors but the hard disk can also crash that will lead to the destruction of data. But when startups utilize <\/span><b>cloud-based accounting software<\/b><span style=\"font-weight: 400;\">, there are prospects to save data in manifold locations along with sound safety measures. Some of the measures include firewall, antivirus &amp; encryption. Data with this will always remain safe even if a disaster occurs.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Automatic software upgrades &amp; updates<\/b><span style=\"font-weight: 400;\"> \u2013 You might be a software development company, an online startup, or an e-commerce vendor; functioning with the latest technologies &amp; software is paramount. Otherwise, keeping at par with the global standards &amp; meeting client and customer expectations will be impossible. But here is an issue. Whenever businesses upgrade to the latest software version, it will definitely be a cumbersome task. This largely leads to an interruption in work.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A business might keep working on several <\/span><b>ERP projects<\/b><span style=\"font-weight: 400;\"> that call for operating with the latest technologies only. Implementing <\/span><b>cloud accounting<\/b><span style=\"font-weight: 400;\"> into the system will help save time while upgrading software. Employees can then focus on other projects for more <\/span><b><a href=\"https:\/\/www.exactlly.com\/blog\/sales-order-process-management-in-erp\/\">sales orders<\/a>.<\/b><span style=\"font-weight: 400;\"> The concept of <\/span><b>cloud based accounting<\/b><span style=\"font-weight: 400;\"> is gaining prominence for a lot of reasons. It can simply update software in the background without work getting affected.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Improved business decisions<\/b><span style=\"font-weight: 400;\"> \u2013 Initiating a startup in today\u2019s world is a risky affair given to the present competitive business landscape. The startup might fail to satisfy its customers or it might not receive the necessary funding. So in order to ensure success for a startup, it is important to take proper business decisions &amp; at the right time. This calls for organizing updated accounting data. For this, more &amp; more startups are now benefiting from <\/span><b>cloud accounting<\/b><span style=\"font-weight: 400;\">. By this, it is possible to attain better control over resources &amp; accounting data. Also getting updated visuals of the business account is possible. This is especially beneficial for small businesses that are working with <\/span><a href=\"https:\/\/www.exactlly.com\/blog\/7-benefits-of-erp-in-retail-industry\/\"><b>ERP in the retail industry<\/b><\/a><span style=\"font-weight: 400;\">. Implementing <\/span><b>cloud based accounting<\/b><span style=\"font-weight: 400;\"> in almost every business process is truly the need of the hour.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Remote access<\/b><span style=\"font-weight: 400;\"> \u2013 If data within an organization is only stored in the local systems, employees or the startup head can never access it from outside the workplace premises. However, the times are changing which is making startups adopt technologies like <\/span><b>cloud accounting<\/b><span style=\"font-weight: 400;\">. It helps in accessing the accounting software anywhere, anytime &amp; from all devices. <\/span><a href=\"https:\/\/www.exactlly.com\/blog\/employee-training-key-to-successful-implementation-of-erp\/\"><b>Employee training<\/b><\/a><span style=\"font-weight: 400;\"> is also a hassle-free process as using these technologies is quite simple.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Cost &amp; time savings<\/b><span style=\"font-weight: 400;\"> \u2013 85% of startups fail as they lack proper cash flow. A small business can never find adequate time &amp; cost as per preconceived notion to date. But this kind of thinking is now transforming bit by bit. Realizing the <\/span><b>cloud accounting benefits <\/b><span style=\"font-weight: 400;\">is all a startup needs to enjoy success within a short time span. For instance, small businesses no longer need to buy top-rated hardware &amp; this eradicates capital expenses. <\/span><a href=\"https:\/\/www.exactlly.com\/blog\/erp-strengthens-business-collaboration\/\"><b>ERP business collaboration<\/b><\/a><span style=\"font-weight: 400;\"> at its best is also possible with such high-end cloud services. Businesses will not feel the need of deploying an IT team within the office as companies offering cloud services manage challenges linked to infrastructure &amp; hardware. As there are no hassles related to IT, businesses can largely save operational costs &amp; time.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Multi-user partnership \u2013 <\/b><span style=\"font-weight: 400;\">As we can also see that the CoronaVirus pandemic has forced people to work remotely. However, the key to more productivity &amp; successful business operation calls for team coordination. But when people of teamwork from several locations, it is challenging for them to join forces on accounting data concurrently. For instance, when it comes to projects related to <\/span><b><a href=\"https:\/\/www.exactlly.com\/blog\/8-key-benefits-of-erp-in-construction-industry\/\">ERP in the construction industry<\/a>, <\/b><span style=\"font-weight: 400;\">team coordination is a must as it is the very foundation of well-designed buildings. So now small businesses can benefit from a<\/span><b> cloud accounting<\/b><span style=\"font-weight: 400;\"> system that is hosted on the cloud. Thus, team members can now easily pool resources &amp; make modifications in data correspondingly.<\/span><\/li>\n<\/ul>\n<h2><b>Learning the basics of cloud computing:<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The wide range of <\/span><b>Cloud computing benefits<\/b><span style=\"font-weight: 400;\"> that a startup can enjoy is no longer unfamiliar to the business world. But learning the basics of <\/span><b>cloud computing<\/b><span style=\"font-weight: 400;\"> is paramount to be able to implement it correctly.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Cloud computing systems are models for facilitating on-demand &amp; convenient network access to shared resources like servers, applications, networks, storage, services, etc. Provisioning &amp; releasing these resources rapidly is possible with very less management effort. Though cloud computing definitions are manifold this is the one that is widely accepted.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Startup companies can be perceived in various forms. This can also include life-style businesses as well. However, the saying \u201cstartup company\u201d is sometimes linked with high growth &amp; also technology-oriented organizations. Funding is very important for all kinds of startups or else operating will be really challenging. Investors are also highly interested in new companies that are distinguished by their scalability &amp; reward or risk profile. This means that these companies include less bootstrapping costs, more potential ROI &amp; higher risk. Successful startups of the current times prove to be more scalable in comparison to established businesses. This is because the startups can grow at a rapid pace even with restricted land, capital investment, or labor.<\/span><\/p>\n<h3><strong>Major cloud computing benefits for startups are mentioned as below:<\/strong><\/h3>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Cloud based computing<\/b><span style=\"font-weight: 400;\"> software can scale as per demand. Scaling the resources up &amp; down from time to time is required as this facilitates speedier growth.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><span style=\"font-weight: 400;\">By implementing <\/span><b>cloud computing<\/b><span style=\"font-weight: 400;\">, businesses can choose not to spend money &amp; time powering, cooling &amp; housing the infrastructure.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><span style=\"font-weight: 400;\">There are some blunt capital costs that a startup will always need to bear. So with the help of <\/span><b>cloud computing<\/b><span style=\"font-weight: 400;\"> technology, a business can shift the infrastructure prices from capex to opex.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><span style=\"font-weight: 400;\">When cloud computing is utilized correctly, it will be possible for businesses to spend labor costs on individuals who will better the core business &amp; applications. There will be no need to invest in people who will be running the infrastructure.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Cloud computing<\/b><span style=\"font-weight: 400;\"> facilitates the ability to match revenue with all the expenditures. Startups only need to pay for resources they will actually use. This for most of the businesses equates to the amount of revenue or traffic it is bringing in.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><span style=\"font-weight: 400;\">Cloud helps companies to reach the market at a rapid pace due to the speedy work put forward by infrastructure &amp; provisioning experts.\u00a0<\/span><\/li>\n<\/ul>\n<h3><b>Models of cloud infrastructure:<\/b><\/h3>\n<p><strong>When it comes to cloud based computing, it is important to learn about its various models. The deployment of cloud computing models are:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Private cloud<\/b><span style=\"font-weight: 400;\"> \u2013 Here only one organization utilizes the cloud. The business can incorporate clients, contractors &amp; users. The data center of a company or a third-party provider can own a private cloud. Building a private cloud is possible on a protected portion of a public cloud platform.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Public cloud<\/b><span style=\"font-weight: 400;\"> \u2013 This is the model that witnesses widespread utilization. IT-resources such as storage, apps &amp; virtual machines are put forward by third-party service providers in the public cloud. Startups can easily access such services &amp; tackle these from their account. Google Cloud, Microsoft Azure &amp; IBM cloud are some of the notable examples.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\"><b>Hybrid cloud \u2013 <\/b><span style=\"font-weight: 400;\">This is the model that incorporates both the models as mentioned above. Apps &amp; data of an organization can move between public &amp; private clouds for load balancing. This makes the business procedures of startups extremely flexible &amp; results in work optimization in general.<\/span><\/li>\n<\/ul>\n<h2><b>Final Say:<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Most of the startups of today\u2019s time bring along innovative concepts. Unlike a regular business, these require a lot of ingenuity without which bringing transformation in the society will be impossible. Startups require automation, updated data &amp; a lot more. <\/span><b>Cloud accounting<\/b><span style=\"font-weight: 400;\"> software is the solution to all these requisites. Entrepreneurs can now truly enjoy what they do &amp; bring more productivity to work with <\/span><b>cloud based accounting<\/b><span style=\"font-weight: 400;\"> systems.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Engaging in an unperturbed accounting is the need of the hour. Develop a successful startup with <\/span><a href=\"https:\/\/www.exactlly.com\/erp\/\"><b>exactllyERP<\/b><\/a><span style=\"font-weight: 400;\"> that guarantee you safer &amp; stronger accounting endeavors. <\/span><a href=\"https:\/\/www.exactlly.com\/contact-us\"><b>Contact Us<\/b><\/a><span style=\"font-weight: 400;\"> today for a <a href=\"https:\/\/www.exactlly.com\/request-free-demo\"><strong>free demo<\/strong><\/a>.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The month of February 2019 feels proud to witness the emergence of more than 550,000 startups. The numbers without any doubt are higher in 2020. But 85% of the small businesses encounter failure due to the challenges associated with cash flow. The concept of startups is gaining much prominence even amidst the pandemic as it&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5315,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-4459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exactlly-erp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cloud Accounting | Know How Startups Can Achieve Early Success<\/title>\n<meta name=\"description\" content=\"The current era is witnessing startups utilizing cloud accounting for preventing costly errors, making better decisions, saving time, etc.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.exactlly.com\/blog\/how-startups-can-achieve-early-success-by-relying-on-cloud-accounting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cloud Accounting | Know How Startups Can Achieve Early Success\" \/>\n<meta property=\"og:description\" content=\"The current era is witnessing startups utilizing cloud accounting for preventing costly errors, making better decisions, saving time, etc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.exactlly.com\/blog\/how-startups-can-achieve-early-success-by-relying-on-cloud-accounting\/\" \/>\n<meta property=\"og:site_name\" content=\"La Exactlly Software Pvt. 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