Cloud outsourced accounting has arrived
The first full cloud outsourced accounting department for SMEs has officially launched, with AccountsTeam giving small businesses access to services and experience traditionally only available to large corporations.
The service provides an integrated resource for clients’ accounting, compliance and business advisory needs via an online portal and cloud computing. This removes the need for SMEs to purchase accounting software, work with a bookkeeper and accountant, or have an accounts team.
Other services provided by AccountsTeam include virtual CFO, bookkeeping, financial reporting, payroll, inventory and point of sale services.
According to AccountsTeam CPA and founder Rener Lao, the system aims to help SMEs become automated, systemised and well run, allowing owners to focus on other areas.
“Small business owners often express their frustration at being bogged down with administration and accounting instead of focusing on building their businesses. They need a service that can take care of everything from record keeping to bookkeeping and tax.”
The service shares real-time data and documents with clients, even allowing a synchronisation of due dates so everything runs on time. Unlike in the traditional bookkeeper-client-accountant relationship, this eliminates inefficiencies from double handling of information and time wasted from swapping or fixing inaccurate data and missed communications.
The AccountsTeam solutions are scalable and fees are fixed, to assist SMEs to better control their expenses and cashflow.
I think you need to check your sources. There have been many cloud providers before these guys came along. I think you need more fact checking than just reaching a press release from a company selling their own product. Five Ways Chartered is one example that I know of. You can also visit the Xero.com partners section to see others.
Thanks for sharing Michael. You are correct that we are not the first to use the cloud, however we are the first to offer ‘full cloud’ in Australia. Until the launch of AccountsTeam, small businesses in Australia have only been able to have parts of their accounts function accessible via the cloud. AccountsTeam offers every accounts department service, from record keeping to management reporting, using cloud technology. For example, some cloud-based services focus mainly on reporting and tax while not providing recordkeeping or bookkeeping services as an accounts department would. Other Australian providers offer other aspects of an accounts team, with none of them being ‘full cloud’ or offering the full service of an accounts department. This is something that we offer as a ‘full cloud’ accounts team. Let me know if I haven’t understood your point or if you’d like to discuss further.
Fantastic application!
Thanks Paul!