3 best things Singapore startups, SMBs can get from cloud

A recent study by Microsoft Corporation in June 2013 showed that startups and small and mid-size businesses (SMBs) reaped more benefits after moving to cloud.

Security, privacy and reliability were the three main advantages that they experienced from this migration.

There is a misconception about cloud; storing crucial data online somehow freaks startup directors and shareholders. We get the concern, technology fails on us at times.

However, what cloud offers is a myriad of platforms to store your information. You can save your data on the desktop, dropbox, via email, and not to mention the thousand and one apps available at your disposal.

You could even extract them as pdfs, jpeg, spreadsheets, etc. What cloud does, is in fact, store your information anywhere and everywhere so that you’ll always have a copy of it.

Cloud-users prove naysayers wrong

Interestingly, there were contradicting results from cloud users and the naysayers; businesses that run from cloud like a plague.

The main concern of companies that have yet to move to cloud, is stability.

The Microsoft study, which did not qualify participants by product, service or vendor, asked SMBs that have yet to adopt cloud about the reasons that stopped them from making the move.

• 60% cited concerns around data security
• 45% are worried that using cloud would result in lack of control over their data
• 42% doubted the reliability of the cloud

Yet, the study revealed that SMBs in the cloud have had positive experiences that contradicts these concerns.

• 94% have gained security benefits they did not have with their former on-premises technology, such as up-to-date systems, up-to-date antivirus and spam email management
• 62%  have seen increased levels of protection
• 75% have experienced improved service availability
• 70% of SMBs in the study said that adopting a cloud service meant that they could invest money and time savings into areas of their business such as product development and innovation, demand creation and expansion into new markets.

Application to bookkeeping

Cloud is a trend for the next two decades. If you master this, you will have a significant advantage over your competitors.

We’re not asking you to revamp the business and make the shift instantly. We’re telling you to slowly adopt cloud. This is beneficial to the business, especially bookkeeping, in the long-run.

What desktop-based accounting software couldn’t provide bookkeepers with was access to real-time information. Cloud bookkeeping brings everyone together; accountants, business partners and staff.

From a bookkeeper we’ve spoken to, the main benefit of cloud is the accessibility it brings. You can access data of your books anytime and anywhere. You are not bound to a desktop, and any changes made to the books will be reflected immediately, no matter which computer you use and no matter where you are.

Cloud allows time for productivity and business forecasting

From the study, half of the SMBs have pursued new opportunities because of the time they saved from managing security.

In our experience, we’ve witnessed a hike in efficiency and productivity because time was significantly slashed on manual labour and cumbersome data-entry.

A sandwich store in Singapore moved their accounts to cloud close to three months ago. Using cloud-based accounting software – Xero, they just had to spend an hour or less per day on their books. This was five hours less than when they were using desktop-based accounting software.

Moving to cloud was one of the best move for the company. With cloud, they had time for business planning and forecasting to increase revenue. It also provided real-time data, which can be accessed anytime and anywhere together with error-free reports.

We may not be users of Microsoft’s cloud apps, however what we’re reiterating here is that cloud is a revolutionary platform, a global phenomenon that is advantageous.

Watch the presentation here.