Prior to the “cloud” establishing itself as a revolutionary technology, financial records were stored physically. This made managing day-to-day accounting tasks extremely time-consuming and overwhelming—especially since it demanded that dedicated accounting personnel be physically present at a central location to record transactions, payments, invoices, and so on.
The majority of companies have now upgraded to an online software solution to reduce the dependence on manual labor and save time.
However, a large number of UK accounting software still don’t work as they should. So, how do you find out if the accounting software you are using is benefiting you as it should? How do you determine if it is helping you deliver maximum results?
In this article, we will highlight 4 red flags to help you recognize if your UK accounting software is outdated.
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1. It’s costing your business time and money
Look for the following signs to judge if your accounting tool is outdated:
- You find yourself working day and night to perform basic accounting tasks.
- You spend more time on data entry than any other accounting duties
- You are so immersed in maintaining books, managing payroll, invoicing, and generating reports that you are unable to concentrate on growth-focused tasks.
If you are facing the above problems, it’s a surefire sign that you need to switch to an updated technology to avoid spending continuous hours on accounting tasks that can be automated.
With new-age top accounting software in UK, you can save your business plenty of time through automated receipt scanning, updated expense management solutions, automatic invoicing report generation, and so on.
2. Your accounting tool was updated ages ago
A great deal of accounting solution providers cut off support for updated technologies after a fixed period of time. This way, you are left with outdated functionalities which prevent you from complying to best accounting practices and also put your software at a security risk.
Here are signs to determine if your UK accounting software requires an update:
- You are facing regular crashes and force closes.
- You have had a hacking scare or have lost data to a security breach.
- Your accounting tool didn’t gain additional functionalities after you updated the operating system.
This is a direct implication that your UK accounting software does not support new versions and operating systems or is protected against modern cyber threats. It puts both your company and clients at risk of losing confidential data.
3. You can’t access your accounting software using a mobile device
In this day and age, it is imperative for businesses to leverage solutions that are designed to deliver maximum functionality across a wide range of devices.
Here are some tell-talented signs to look out for:
- Your accounting tool is not cloud-based
- There isn’t a dedicated native app for Android and iOS platforms.
- You can’t avail at par functionality on your mobile phone as you do on a desktop; it lacks features that could potentially make your life easier.
An important advantage of using a cloud-based, top UK accounting software is that it provides access to your accounting data regardless of where in the world you are and which device you are using.
Cloud technology also streamlines collaborations, data sharing, and report generations.
With mobile phones have become an indispensable tool for providing on-the-go functionality to users, you can benefit from speedy completion of tasks and access to real-time data from anywhere in the world.
You can fulfill a customer’s bills while on a flight or switch operating systems and still avail of maximum functionality.
If you’re able to monitor accounting responsibilities on the go, you can strive to be more in tune with your accounts and ensure top-notch financial health at all times.
4. Your accounting software doesn’t support integration with other key apps
Look for the following signs to judge if you need an updated accounting technology:
- You have to maintain separate apps for different tasks like receipt scanning, invoicing, sending reminders, or managing expenses. With all these apps requiring your data, you end up manually populating data on each software—thereby losing precious time.
- Your UK accounting software does not integrate effectively with other apps
- Your UK accounting software does not integrate with your preferred list of apps—which minimizes your productivity.
If you run a business in the digital age, you are likely to be using a range of apps to stay in tune with your business needs. It is important for you to be able to integrate with key platforms, third-party accounting apps, and payment gateways—and even stay connected to bank accounts and credit cards—to ensure you don’t perform the same task twice.
If you find any of the above red flags to be true in your case, it is highly recommended that you switch to top accounting software in the UK that helps you derive maximum potential.
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