How Cloud-Based Accounting Technology Allows us to Protect Data and Work More Efficiently

By Cary Selby
May 30, 2019

The introduction of cloud-based software and technology has allowed us to work more efficiently, protect data more securely, and provide convenience to our clients.

In a previous blog post, we spoke about how to make smarter decisions about technology and why it makes sense for your business to outsource your bookkeeping and accounting tasks to a dedicated team who has access to the right technologies. Here, we’ll speak to the importance of cyber security, our data protection system, our partnerships with accounting software companies, and how these technologies can benefit your business and accelerate its growth.  

The Importance of Cyber Security and How We Protect Your Data

Ever find yourself frantically searching for that one particular important file? You know, that file in that folder? With the blue sticky-note? Your worst fear is not only that you may have misplaced it and will not be able to find it in time to complete a crucial task, but the larger concern here is that it may have fallen into the wrong hands.

Cloud-based bookkeeping and accounting software not only help keep your records and documents accessible and organized, but also add a layer of protection that paper documents simply cannot. While the secure organizational infrastructure comes with the software, the knowledge on how to understand and analyze the financial information in your documents, does not!

Technology is but a tool – your business still needs the right experts to wield it.

An integral part of every bookkeeper and accountant’s work is shuttling data back and forth, which sometimes requires users downloading information and emailing it around. As a business owner, you know that time is money and the time wasted moving information back and forth could have been better used to create value for your company. Today, with cloud-hosted accounting software, both you and your accountant can access the data at the same time, instantly, and from any location.

We know what you’re thinking: “If I have access to my records in real time, doesn’t it mean others can gain access, too?”

At Qmulus, we understand the business you’ve built is your everything, and your business’ data is its everything.

That’s why the technology solutions we use require two-step authentication. This two-step process is the standard for cloud-based services and requires both a password and a passcode, to ensure the right people have the right access. Plus, they use bank-level encryption.

Our Partnerships with Leading Software Companies can Benefit Your Business

To help you succeed, we partner with the best of the best. The following partnerships enable us to efficiently provide our service offering to better your business. (As an added bonus, we can offer discounted software rates to our clients!)

Budgeting & Cash Flow Planning – QuickBooks Online

QuickBooks Online (QBO)  is the #1 cloud bookkeeping solution for growing and mid-sized businesses. We utilize this software to manage your business’ spending, budgeting, and cash flow planning. QBO allows us to keep you up to date and gain a better overall understanding of where your finances are so that we can provide informed advice.

Payroll Management – Wagepoint

We’re sure payroll management isn’t your favourite task as a business owner. We can take this off your hands with the help of Wagepoint. Managing your team’s salaries, wages, bonuses, net pay, and deductions can be a hassle when you have so many other things on your plate. With the help of Wagepoint, we simplify the payroll process and ensure your employees will be paid on time, accurately, and according to CRA payroll regulations.

Accounts Payables and ReceivablesPlooto

In our last blog post, we spoke extensively about how to identify if your business’ cash flow is in trouble and how important it is to keep a close eye on accounts payable and receivable. This is where Plooto comes in. As our client, you’ll have access to this software, which offers a simpler way to approve payments, collect from vendors, and receive real-time status updates on payments.

No system is 100% secure, but with the right tools at your fingertips, paired with the experts to guide you, building a secure and efficient financial management process into your business is a lot easier than you think.

Bookkeeping and accounting technologies can help optimize the processes, bookkeepers and accountants rely on to cash flow plan, manage payroll, and accounts payable and receivable. We’ll provide the expertise and knowledge to perform these tasks, as well as the software that can help us do it more efficiently. Have questions about our two-step authentication system or our partnerships with leading technology solution companies? Just call us at 647-476-2145 or schedule an appointment with us.

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