Businesses Must Adapt to Modern Cloud Accounting Software and Embrace Technological Change

Businesses now more than ever, face pressure to adapt to technological developments, yet there is a conscious awareness of businesses fearing their security being breached online in the process.

The Making Tax Digital incentive is a perfect example of this. Businesses are being urged to adopt digital accounting software, yet have shown doubts, with stats that reveal “43% of cyberattacks target small business.” Ginni Rometty, IBM’s chairman, president and CEO said “Cybercrime is the greatest threat to every company in the world.”

However, cloud-accounting software provides numerable benefits, such as maximum security protection, remote accessibility and consistent data back-ups. See below for reasons how adopting cloud-based software, fulfils modern business needs, keeping work, secure, accessible and productive.

SME’s more reliant on smartphones than ever

A recent survey conducted by the mobile network Three revealed that SMEs are increasingly reliant on smartphones. The survey of 1,000 small UK businesses found that almost two thirds felt technology on their mobile phone is better than the technology on other devices, with 81% agreeing that the latest smartphones fulfilled most of their business needs.

From the offset Pandle’s aim has been to put the needs of SME owners at the forefront of their software. Pandle has achieved this through building a mobile app, so that modern-day business owners can seamlessly navigate their accounts and employ cutting-edge accountancy features from their smartphone whilst on the go.

Similarly, Pandle’s cloud-based software can be accessed from all devices, the online software differs from installed software, where users are limited. With business owners being consistently out-and-about between meetings, Pandle’s cloud-based software, is the perfect solution for owners to keep track of their finances, send invoices or upload receipts whilst ‘out of office’.

No archaic document misplacement

Technological developments in IT resources have elevated the ways in which businesses can store financial data. This has meant that archaic occurrences such as data misplacement or errors that can occur when backing up data, no longer crop up.

Pandle is consistently encrypting backups of all user data, automatically, of which is stored on servers, and then transported securely to Google’s secure UK data centres.

Cloud-based software stores backup-copies of your files via Google Drive, protecting users’ data from loss or damage. Users can store their files in the cloud, making their documents secure, and accessible wherever, whenever.

The approach minimises financial expenditure via expensive hardware costs, reduces risk of file corruption, prevents disk space from being clogged up and lessens time spent searching for documents. When storing data in the cloud, your documents can be accessed from any device at any time.

Fast loading time

The biggest cloud computing services run on a worldwide network of secure data centres, which are regularly updated to the latest generation of fast and efficient computing hardware.

Pandle’s cloud-based software is lightweight for businesses to navigate and includes an integrated Message Centre, for employees, owners and accountants to share files and interact.

Users can complete multiple tasks simultaneously whilst running Pandle software, and access an abundant of features within Pandle in just a few mouse clicks.

This is because cloud-based software was built to appeal to the fast pace of modern business consumers, providing a high-performing, fast-working web-solution as an alternative to slow-performing downloadable software, that takes up lots of hard disk space.

Cloud-based software is regularly maintained and renovated to keep in line with the relentless, ever-changing pace of the information age. This means that users can therefore stick with one software, and develop their skills whilst learning it, rather than chopping and changing between multiple versions.

Secure data storage

Cyber-attacks are continuing to rise with Ponemon – an independent research institute specialising in data protection and information security – revealing “more malware is being launched than ever before.” And without measures in place, small businesses are being hit just as much as the big ones, suffering from severe data breaches that incur multimillion-pound damage.

Ponemon claim that the average cost of a single cyberattack to major corporations, can cost $5 million, with $1.25 million – a quarter of the total – attributing to the system downtime, and another $1.5 million (30 percent) contributing to IT and user productivity loss.

Businesses are therefore being urged to implement the right measures to protect themselves, such as cloud-based software.

Pandle’s cloud-based software takes the most secure measures to ensure all elements of Pandle are safeguarded. All communication with Pandle servers, is done via a secure HTTPS connection (128-bit SSL) the same technology used by your bank to encrypt communications with your website. Additionally, all passwords and personally identifiable data are stored on disk, in Pandle’s database, using industry-standard encryption algorithms.

The software itself is developed using languages and frameworks that are actively expanded upon, using the same technologies applied by Google and other popular web applications. Pandle consistently provides regular security updates, to impose maximum security protection against the newest, most malicious cyber threats.

Are you using cloud-based software to protect your business against modern threats, and to keep up with the fast-paced Information Age? Comment below with your thoughts on cloud-based software.