Cloud accounting software is also known as Cloud ERP or Cloud based accounting software which is a modern form of accounting software system that is hosted on a remote or cloud server in which users send data to the cloud server where it is processed and returned to the user.
Cloud Accounting Software is mostly used by distribution business owners, manufacturers, accountants, and the accounting department to track and manage finances, sales, and inventory.
Cloud accounting software is hosted on the vendor’s servers and accessed through a web browser. Legacy Accounting Software is installed locally, on a company’s own computers and servers.
1. Can access to your financial data anytime, anywhere 2. Get an Up-To-Date View of Your Business 3. Save time with automate your workflow 4. Make collaboration easier with an accountant 5. Improve the Accuracy of Your Accounting 6. No need of on-premises installation 7. Easy access to tech support 8. Go Paperless and Declutter Your Office
Cloud Accounting ERP uses encryption technology to secure data, it's using the same type of security used to make online banking safe.
Many traditional accounting software providers like SAP, Oracle, and Microsoft dynamics are expensive, on the other side software providers like "Ximple Solution" are cost-effective and more accurate for a business need. It has flexible plans based on different business sizes and types.