Thinking of switching to remote bookkeeping? You would be in good company. More and more businesses are outsourcing bookkeeping to become more efficient.
As COVID-19 has made clear, remote capabilities are a virtual necessity in all aspects of today's business world, including bookkeeping. If you still haven't taken your books online, here are three reasons why you should, along with tips on how to get started.
1. It's Paperless
Until recently, bookkeeping required lots of paperwork. Invoices, receipts, tax forms — all those individual pieces of paper had to be logged, organized and stored. But if you're still keeping paper records, you're not only wasting time, energy and storage space, you’re taking unnecessary risks.
Paper burns. It can get waterlogged. It can get lost. So if your business has a fire or a burst pipe, or if you or an employee simply misplaces an important document, the results can range from increased stress and lost productivity to a complete disruption of business continuity.
With online bookkeeping and controller services, all of your records are kept in the cloud. They're not in a file cabinet —or on a single computer hard drive. So even if your physical place of business is devastated by a natural disaster (or if you can't get to it because of a government-mandated shutdown), you can still access your financial documents online.
Tip: A wide range of online bookkeeping tools is available, including some with industry-specific applications that could be tailored for your business. If you're not sure which one offers the best combination of value and convenience, consult an online bookkeeping and controller services professional. Once you find just the right software for your situation, you'll wonder why you didn't make the switch sooner.
2. It Improves Communication
Switching to remote bookkeeping and controller services gives you much greater flexibility when interacting with your bookkeeper or controller. In-person meetings (and the travel time required) are no longer necessary. Videoconference technology, complete with screen sharing, allows you to collaborate with your bookkeeper, even for detailed financial analysis and long-term forecasting, remotely.
Tip: Upgrade your phone. A state-of-the-art smartphone with the right apps, including various project management or CRM tools, functions as a mobile office that lets you stay on top of all aspects of your business, including your financials, from just about anywhere.
3. Your Clients Will Soon Demand It
Your clients won't literally demand that you use online bookkeeping, of course. But many will effectively demand it as technology continues to evolve, because no aspect of your business happens in a vacuum anymore. Everything is connected, which means you need to stay connected, too. If your more security-minded clients have already transitioned away from paper checks and invoices to automated clearinghouse (ACH) transactions, for instance, they may expect you to offer this as well.
Same goes for the capability to securely process credit card transactions, which are becoming more and more common in our increasingly cashless (and socially distanced) society. Growing your business will depend to a large degree on your willingness to accommodate your clients' preferred method of doing business. And that means using more and more online tools.
Tip: Consult an outsourced bookkeeping and controller services provider. An online bookkeeping professional can guide you through the onboarding phase and get you comfortable operating in a remote, paperless environment. They can also automate many bookkeeping processes to save you time and effort, and set up a convenient dashboard to make it easier than ever to stay on top of your finances and focus on your core business.
Get Started With Remote Bookkeeping and Controller Services Today
The idea of switching to remote bookkeeping and controller services can be intimidating. Find the right partner to walk you through it, however, and you'll discover it's as easy as 1, 2, 3.
At Supporting Strategies, our experienced, U.S.-based professionals use secure, best-of-breed technology and a proven process to provide a full suite of bookkeeping and controller services. Are you ready to learn how you can move your business forward? Contact Supporting Strategies today.