New Guides To… from ACCA and Xero explain how your practice can maximise the benefits of moving to the cloud.
With an estimated 100,000 UK businesses now using online or cloud-based accounting software, new technology is again revolutionising the accounting sector. Cloud-based accounting solutions now offer mobile, always-on, instant-access financial tools, creating new ways to work with your clients. They open new opportunities for improving practice efficiencies, as well as offering clients additional valuable services – allowing you to become a virtual finance director and a trusted adviser.
ACCA has collaborated with Xero – one of the UK's leading online accounting software providers – to produce a series of three Guides To… which will help your practice really understand the benefits of operating in the cloud – and how to make the move. Each Guide To… is outlined below:
Managing a cloud-based practice: six steps to a better business Once your practice has made the initial move to the cloud, how do you then manage and review the new systems and tools you have in place? How do you make sure that they’re efficient and truly paying for themselves?
Follow our six-point guide to get the most out of your cloud-based practice:
Step 1 – Start using cloud solutions Lead by example. Start using cloud solutions for your own accounts. Become a true advocate for working in the cloud.
Step 2 – Identify the right clients to move first Choose the right clients. Focus on younger, tech-savvy and smaller-sized companies. Focus on businesses with simple structures.
Step 3 – Set up, convert and learn Set up your chosen clients. Get them up and running with cloud accounting. Apply the knowledge you’ve learnt from your own experience with cloud solutions. Add additional value for your clients and become a trusted business adviser.
Grow your practice using an entrepreneurial mindset Online accounting platforms make it easier than ever to set up a business and to start working with a broad range of clients – making the most of the mobile, instant-access benefits of advising and collaborating with small and medium-sized businesses.
The concept of adapting to change is central to the entrepreneurial mindset. This guide outlines how a highly ambitious, innovative, adaptable mindset can drive your accountancy business forward.
Access the Guides To… Simply follow the links above to download each Guide To… or visit ACCA’s Technical Advisory webpages to view and download our full range of Guides To… and technical factsheets.
