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7 Ways To Streamline Business Accounting With Cloud-Based Software

19 Feb

7 Ways To Streamline Business Accounting With Cloud-Based Software

by SMB Suite
in Managed IT, SMB Blog
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On a day-to-day basis, small- and medium-sized businesses (SMBs) struggle with so many things. They don’t have nearly as much manpower as necessary, cash flow is almost always fluctuating, the competition is stiff and forecasting anything seems impossible.
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While there are an infinite number of ways to alleviate these pains, streamlining accounting is one of the best. Armed with the right tools, SMBs save time and money, gain actionable insights into the company and move the business forward. The best tool to streamline your accounting is cloud-based financial accounting software.

Here are seven great ways that such tools help your company overcome these day-to-day struggles and succeed:

  1. Reduce Your Manual Tasks
    Financial accounting software streamlines business accounting by avoiding multiple data entry. A survey of accounts payable (AP) professionals reports that less than 17 percent of businesses embrace fully automated systems. The more your accounting software is able to automate repetitive tasks, the fewer the manual tasks your employees need to complete. This cuts down on billing errors, mistakes and overpayments.
  2. Boost Disaster Recovery Efforts
    Using spreadsheets or QuickBooks is dangerous in the event of a disaster. However, if your financial accounting software is cloud based, it’s backed up at least once a day. Remember, even if your on-premises system is programmed for backups, the data is still located in the same place as your office, which presents an issue if your building gets flooded or burns down.
  3. Reduce Silos
    It’s common for SMBs to struggle with siloed information. As the business grows, the company buys new systems to solve problems. Unfortunately, many of these systems were not built to work together or easily share information. These silos become problematic because the ability for a company to work off one set of numbers — rather than a set of numbers from one department and another set of numbers from another department — gives managers the confidence to make sound decisions. In other words, they won’t have to worry that they’re working off the wrong set of numbers. Financial accounting software is powerful enough to work with all systems to improve efficiencies, reduce errors and streamline processes.
  4. Integrate With Your Other Programs
    Integration is how financial accounting software is able to reduce silos. Integration also saves the company time because accountants don’t have to work long hours maintaining the integrity of several different financial systems. They update one figure in one location and all systems are updated in that moment. This provides one source of data for all business uses. 

  5. Eliminate IT Worries
    SMBs have limited IT staff. When those few people — or that single person — spend precious time keeping the lights on rather than figuring out ways to make the company more revenue, the company loses. However, cloud-based financial accounting software is already maintained by the vendor’s IT staff. In other words, service pack applications and patches, virus protection, data management and application upgrades are all included in your cloud subscription costs. That means that employees focus more on the core competency of the business rather than stressing about the next software upgrade.
  6. Ensure Proper Audit Trails
    Tracking changes was never so easy. When someone changes information anywhere in the system, the software tracks it. If something harmful happens, it’s simple to restore an earlier version of a document or determine how the mistake happened.
  7. Run Great Reports
    Using high-quality reporting tools is one of the best ways that financial software helps businesses move forward. Armed with business intelligence and actionable data, SMBs have the power to know where the company stands at all times. It’s simple to make course corrections immediately and plan for the future.


If your company is working off multiple data sets, you’re losing time, money and the necessary confidence to make remarkable decisions. It’s time to alleviate your pain points with an automated and integrated financial accounting software system.

Ready to streamline your business accounting? Discover how to upgrade to cloud based software in 5 easy steps in our new infographic, Move to a True Cloud Subscription in 5 Easy Steps.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.