Online Accounting Revolution

New and current SME's are well aware of the potential benefits online accounting has to offer

Many businesses have come to the realization that online accounting provides many benefits for both yourself and your accountant that a regular bookkeeping system wouldn't.

For instance, access from absolutely everywhere with an internet connection, real-time viewing of accounts together with your accountant, and security that is reliable are all aspects that attract numerous businesses.

PricewaterhouseCoopers, one of the globe's largest accountancy professional services, has just released a report with evidence of an increase in online accounting of greater than 40% over the past two years. This is significant for evaluating the direction businesses are taking towards new trends.

Tonny Løbner - certified public accountant at PricewaterhouseCoopers - discussed how open-minded the SME's included in their report were towards the implementation of new technology. Tonny went on to mention how happy they get when they learn how much money they can save at the same time.

Safety and security should be a priority

CEO of Trade-Line, Ole S. Hansen discusses his switch to online accounting and E-conomic - "We were unfortunate enough to be victims of a burglary five years ago, during which all of our pc's were stolen. Subsequently, we changed to E-conomic's online accounting system. We wanted to make sure that we would prevent anything like that from happening in the future, and online accounting is the best way to do so.

There are no start-up costs, just a fee payable monthly. The system has proved to be much easier to use than the one we were on before and our resources for the accounting firm are now much smarter spent. We now have extra funds that we can spend on business counselling, since the paperwork and bookkeeping is done by ourselves.

We always have backup with E-conomic. Myself being a traveller, an online bookkeeping solution complete with a stock management module is perfect for us. I always have complete access to our accounting information and to our stock regardless of where I happen to be. In addition, I always have the option of calculating a cost price instantly.

The Importance of Online access

From the report that PwC has released, 50% of the SME's included were users of E-conomic.
"With E-conomic, it is possible to send invoices to the public sector. Prior to using E-conomic, we had to have actual cash registers or pc's sent over. Now, we have the ability to access the system from everywhere and service our clients at anytime.

Many companies outsource their bookkeeping duties and refuse to spend money on a server. E-conomic gives you access to all the functions online and in one place, allowing you and your customers to access the same data anytime and anywhere," says Tonny Løbner.