{"id":17157,"date":"2019-01-07T13:23:07","date_gmt":"2019-01-07T13:23:07","guid":{"rendered":"https:\/\/bigredcloud.com\/?p=17157"},"modified":"2021-08-13T14:32:04","modified_gmt":"2021-08-13T13:32:04","slug":"5-negatives-of-old-fashioned-accounting","status":"publish","type":"post","link":"https:\/\/bigredcloud.com\/en\/5-negatives-of-old-fashioned-accounting\/","title":{"rendered":"5 Negatives of Old-Fashioned Accounting"},"content":{"rendered":"

Things have changed a lot in finance departments since Monty Python\u2019s accountant wanted to become a lion-tamer. Sure, it\u2019s not the most <\/span>exciting<\/span><\/i> job in the world but it is fast-paced. Keeping up with changes in software, laws, rules and regulations is hard work and vital for any successful business.<\/span><\/p>\n

Accounts Departments don\u2019t get the glory, but what if your accounts department hasn\u2019t been on top of their game? What if the finance systems are 20<\/span>th<\/span> century living in a 21<\/span>st<\/span> century world? What are the negatives of that situation and other aspects of old-fashioned accounting?<\/span><\/p>\n

 <\/p>\n

1. It\u2019s Expensive <\/b><\/p>\n

The long and short of it is that if you\u2019re hosting your accounting software on your own server, it\u2019s costing you money. You\u2019re paying separate maintenance contracts for your servers and software. There\u2019s a double whammy in the profit & loss: both these assets get depreciated every month. <\/span><\/p>\n

Instead, your rivals are saving money by using the cloud for their accounting software. Here at Big Red Book, we offer the latest version of our software at a lower monthly cost than you are charging to your bottom line.<\/span><\/p>\n

In short, by failing to invest in your accounting department, you are costing your business money.<\/span><\/p>\n

 <\/p>\n

2. It\u2019s Inefficient<\/b><\/p>\n

Using dated methodologies are inefficient. We\u2019re not talking cutting edge technology here; this is software which helps your business run efficiently. The older the software, the more labour intensive it is. <\/span><\/p>\n

What makes cloud technology so appealing is its ease of use and that it is designed to make your business processes less time-consuming. The less intervention you need to make in a process, the less chance there is of a mistake. To err is human, after all.<\/span><\/p>\n

 <\/p>\n

3. Can You Trust the Information You Are Given?<\/b><\/p>\n

The older your software, the more likely it is that an accountant takes the information and manipulates it in spreadsheet software. If that\u2019s the case, can you be sure there hasn\u2019t been an error in the extraction and subsequent manipulation of the data?<\/span><\/p>\n

By contrast, cloud technology allows authors to host the latest version of their technology. Our software provides a reporting interface which contains a suite of reports that eradicates the need for data extraction into third-party software.<\/span><\/p>\n

 <\/p>\n

4. Your Data Is Vulnerable<\/b><\/p>\n

Hackers are everywhere, and information is the most valuable commodity known to man. It\u2019s not the setting for a dystopian future in a science fiction novel but the reality we face now. Your data is vulnerable because your firewall and anti-virus software isn\u2019t as good as the cloud companies use; your data is their lifeblood, so protection defines their reputation. Only the best will do.<\/span><\/p>\n

 <\/p>\n

5. Staff Morale<\/b><\/p>\n

Old-fashioned accounting is labour intensive. The old cartoon about chimpanzees sat in rows of desks carrying out monotonous tasks must have been set in an out-dated accounts department.<\/span><\/p>\n

Investing in software makes jobs more efficient. People feel a sense of pride and worth because they appreciate their role. Not just a cog in a dull grey machine but one which is bright white and modern. Well-motivated staff are any company\u2019s best asset; investing in your accounting software may be the best move you make. <\/span><\/p>\n

After all, you don\u2019t want all your staff turning up at the job centre wanting to be lion tamers, do you?<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Things have changed a lot in finance departments since Monty Python\u2019s accountant wanted to become a lion-tamer. Sure, it\u2019s not…<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[200],"tags":[],"class_list":{"0":"post-17157","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-big-red-cloud-team-advice"},"yoast_head":"\n5 Negatives of Old-Fashioned Accounting - Big Red Cloud<\/title>\n<meta name=\"description\" content=\"Has your accounts department been on top of their game? What if your finance systems are 20th century living in a 21st century world? 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