Operating a business of any size forces you to make many decisions. For example, you might find yourself having to think about whether your business should start using cloud-based software. Consider the following five ways that this software can help your business thrive.

You Always Have Access to the Tools You Need

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According to a 2015 Gallup poll, 55 percent of college graduates say they have telecommuted to work. Indeed, this trend has grown steadily since the mid-1990s and will likely become more popular over the next several years.

As more professionals telecommute, cloud-based software can keep them connected to the tools they need to use at work. For example, if you need to send an invoice to a client, online invoicing using Sage One accounting software will let you create, send, and manage invoices from any device. The software also gives you built-in reports and statements that will help you analyze cash flow and monitor budgets. As long as you have access to the internet, you can handle your accounting needs without coming into the office.

You Can Collaborate More Easily

Since cloud-based software doesn’t expect you and your colleagues to work together in the same office, the software itself makes it easier for you to collaborate no matter where you are. Some of the best collaboration tools will also simplify other types of communication.

Slack channels messages into a single platform, which helps your team members stay updated on projects. You can also create channels where people can discuss specific topics, private channels that let only authorized people share sensitive information, and direct messages that let people communicate without allowing others into the conversation.

Cloud Software Scales With Your Business Growth

Many businesses adopt cloud-based software because of the scalability of their companies. As your business grows, you can add more users to your account without spending large sums of money on licensing. Cloud-based software is flexible, allowing you to make adjustments quickly as the need arises.

Older types of software require more planning since you’ll need to think about installing programs on authorized computers. Software developers may also ask you to decide how many user licenses you need for the future. Your analytics can give you an estimate, but small and medium-sized businesses may not be able to accurately predict their capacity needs as they grow. As a result, you could spend too much money on licenses you don’t need, or you could spend a smaller amount of money only to discover that some of your employees don’t have the access they need.

Cloud-Based Software Offers More Security

Every company needs to think about data security. Many business owners, however, get so concerned about protecting their information from theft that they don’t stop to think about how they can protect their company data from losses.

Cloud-based software technology offers more security for businesses since you don’t have to worry about losing your data through computer malfunctions, extreme weather, and other unpredictable events. Instead, secure servers protect your company’s sensitive data. In turn, you use cloud-based software to access the servers that contain your data.

You Receive Automatic Software Updates

Why should you settle for using outdated business software? If you’ve used the same accounting program for several years, you probably don’t have access to all the tools that are available in more current versions. Even more troubling, you may not realize that outdated software may have certain vulnerabilities that hackers can exploit.

Most cloud-based software updates automatically give you the latest features and security patches. With cloud-based software, keep in mind that you’re not buying the software; you’re buying a subscription to use the software. Development firms that make cloud-based software have realized that their best interest is to update their applications as often as possible to keep current with changing business needs, security threats, and operating trends.

No piece of software can guarantee business success. Cloud-based software, however, offers benefits that can improve the chances of your business not only succeeding but also thriving in your industry.