Especially with a startup company, it’s important that information and key company data is available at all times. What has been taken for granted for banking transactions, such as the availability of online banking, for approximately two decades, now applies to all company data.
Increasingly we have the need to have all our company data on the network not only to have this available internally, but also for other services or external collaborators, such as tax advisors or customer queries.
The accounting software should be the central part of the different software solutions of the company and, in an idea way, should be based in the cloud. Of course, accounting must be in line with legal requirements and must be adapted to the needs of small and medium-sized enterprises (SMEs).
As companies need to be customized more and more to meet the different needs of customers, it is important that accounting data and other applications or tools used are integrated with each other through a free accessible API. This applies to both the import and export of data (for example, from the web store or the ERP software).
Collaboration with third parties
Just as important is the interactive cooperation between the company and its external partners. This cooperation or collaboration can occur with different partners, suppliers or even clients. If we think about the collaboration we can have with our tax advisors, we not only talk about reducing and optimizing working hours, but also guarantee the availability of data at all times for all.
Of course, this can only be guaranteed by working with a solution in the cloud. As far as possible, the data and documents are only exchanged in electronic format and, therefore, serve as reliable evidence for the regularity of accounting.
Thus, with the help of accounting systems in the cloud, the data can be made available to the tax authorities, regardless of location, system or device.
In the future, all data that we exchange with any administration will be transferred directly electronically. In some European countries, all outgoing invoices are now sent electronically to customers and the corresponding tax administration at the same time, so there is no need to use paper. This is one more reason, ecological, to take the management of your data and accounting in the cloud.