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The Top 3 Reasons Why Small Business Owners Need Accounting Software

The amount of software solutions available to small business owners is enough to make anyone’s head spin. From all-encompassing services that purport to do a little of everything to niche options that perform the most specific of functions, there’s not a segment of the spectrum that isn’t covered. CRM, ERP, word processing, graphic design, marketing, project management, payroll and benefits, hosted phone, videoconferencing, intra-office messaging: all of these and countless more are viable options to meet real needs, but which are essential and which are superfluous? While the answers to those questions will vary depending on the nature of a business, every company can benefit from the use of accounting software

Obviously, accounting and technology are natural bedfellows. Computational ease and accuracy are essential for good accounting, and there are two qualities software excels at delivering. Getting the number right, though, is far from the only reason a small business owner would want to execute their bookkeeping through a modern software platform. The right accounting software provides small business owners a range of essential features and services that can help them make informed choices about the present and future of their business. Here are the five most vital reasons small business owners need accounting software as part of their tech arsenal. 

#1: We live in the cloud now 

The internet has always promised to make our world smaller by providing seamless communication across any distance. From a business operations perspective, that promise is increasingly a reality. Remote work options are among the most desired benefits for employees, and providing them becomes much more possible when your data lives in the cloud. Similarly, why should you have to be tethered to your desk in order to access essential information about your business? We’ve passed the point when being able to view up-to-the-second data anywhere on any device was a bonus. Today, it’s an essential. 

#2: Without data, you can’t see clearly

What do baseball teams have in common with streaming services? They both rely on reams of data to help make decisions about the future of their platforms. Whether signing a prospect or developing a show, they’re not going on gut instinct alone. Detailed reporting and analytics can be equally insight for any business. Precise informative reporting allows users to pinpoint trends and make better decisions going forward. Accounting software, in other words, isn’t just a place for a business to put information; it’s also a place where they can get new information. 

#3: Customers are everywhere

Supply chain management has always been an excellent reason to use accounting software, but those aren’t the only chains in today’s marketplace. Demand chains are more complicated than ever in our current multi-channel retailing environment. Software that allows your channels to speak to each other means you’ll never have to worry about an Amazon customer completing an order you can’t fulfill due to lack of inventory. WIth the right software, when an item is sold in-store (or on your ecommerce site, or on Amazon), its stock will update across all channels. 
Business owners intend for their companies to grow. The achieve that growth, they need the tools to succeed, and accounting software is invariably one of those tools. There are more than just these three vital reasons to explore what AccountSuite can do for your business. Head over to this page to learn more about why AccountingSuite is for you.