What Role do Accountants have in Cloud Accounting?

Cloud accounting doesn’t just offer small businesses and larger clients benefits, the solution can also benefit accountants. If you’re a CPA or you’ve recently earned your degree in accounting, it’s critical that you’re able to keep up with business system advances and how cloud computing is now affecting the business world in real ways. A system that was once nothing more than a concept has now become a real business application that makes data and accounting software more accessible. Here’s the role an accountant plays in the cloud-based accounting world.

Resource: Top 10 Online Accounting Degree Programs

Collaborating With Clients in Real Time

Your clients are business owners and the expectations of business owners are changing. With so many different tax software programs and outsourcing companies to choose from, it’s important that today’s accountants know how to make their role more expansive. Instead of trying to resist the changes in the field, it’s your role to welcome them and implement new technologies to your advantage.

With cloud accounting solutions, professionals are better able to collaborate with their customers in real time. Since you can access your client’s financial data from anywhere at anytime, you can maintain a more collaborative relationship with business owners and give your insights to help monitor the company’s financial performance on a more frequent basis.

Playing the Role of a Strategic Partner

When you’re hired to perform accounting functions for a company, you’re not going to hold the title of partner, but in a sense you’ll become more of a strategic planning partner if you’re utilizing cloud-based accounting software. Because you can pull up real-time numbers, sales, and expense information from your phone or a tablet anywhere in the world, you can offer your clients more value by helping them make the best financial decisions in the future.

Since planning is so very crucial in today’s economic climate, you’re likely to have more of a client-accountant partnership as opposed to the traditional type of relationships you would have had before clouding computing became such a huge trend making big impacts on businesses. By giving good insights to ring true, you’ll build greater trust with your clients so they never want to jump ship.

Offering More Value-Added Services to Clients

Being an accountant in today’s evolved business world means that you must be open to embracing change. You need to be able to broaden your portfolio and become an expert in far more disciplines so that you can wear many different hats. Since cloud-based software programs help reduce the time it takes to collect documents and gather financial information, you’ll have time to do just this.

With the changing role of accountancy, all professionals who are working for practices or independently are choosing to offer their customers more valued-added services. Adding to a company’s HR department, marketing campaigns, technology planning committees, and more will help you help your clients beyond just crunching the numbers.

The cloud will continue to change practices and the way that accounting data is shared and secured. Any professional who has experience in accounting or who plans to enter the field needs to understand the shift in the accountant’s role. With cloud accounting solutions, experts in these financial practices can play a bigger role in strengthening the financial health of businesses all around the globe.