What is online retail accounting?
CounterBooks is a cloud-based retail accounting system. What exactly does that mean?
No, our heads aren't stuck in the clouds! A cloud-based system is simply a system which is hosted online and can be accessed through your web browser. There are several other names for this software delivery model including, "Software-as-a-Service" and "On-Demand" software.
By using a cloud based system users can access the application via a desktop or mobile app without the need of any further hardware or software - saving you money.
Deploying an online retail accounting system presents a core benefit of collaboration across multiple stakeholders of a retail business. For example, a retail franchisee may require the store manager to input the daily sales data from the point of sale, the accountant produces the monthly management accounts and the franchisor's area manager can access the data immediately online.
The financial information of your retail business will be highly secure as the CounterBooks server is located in a purpose built data centre with security and maintenance undertaken on a 24 x 7 basis by a leading professional hosting company. Your retail data will be backed up daily and stored in a central database at a secure offsite storage facility.
How can cloud computing be of benefit to your retail business?
First of all, many major retail organisations such as Amazon, McDonalds and optical products specialist Specsavers are already using cloud-based computing. So this indicates there are plenty of benefits to your retail business.
- Reduced costs - Cloud-based technology means that you won't need to purchase further hardware or software (we won't be sending you any CDs or manuals). Also, as you will be able to access information straight away you will immediately be able to identify any financial issues allowing you to rectify the issue quickly thus saving you money in the long-term. Traditional software is a major capital expenditure which was payable via a large upfront fee, cloud based applications are often payable by a monthly expense chargeable to the Profit and Loss.
- Saves Space - It will also save you space within your retail store as you won't need additional equipment or computer parts or additional servers at your head office.
- Easy Access - Be it via laptop, iPad, mobile phone or desktop computer, you can securely manage the finances of your retail business anytime, anywhere. You can access your financial reports on the move, on site at the retail business premises or at head office, it's up to you.
- Transparency - You can have an overview of your financial position at just a click of a button. This also allows for improved risk management as you can track the finances of you retail business (or franchisees/dealers, if applicable) as often and whenever you would like.
- Saves Time - Upgrades and updates will occur automatically through the server. You won't need to spend time upgrading software yourself allowing you to focus your energies on your retail business. The system can be deployed quickly as there is no need for IT resources to visit sites. For example, if you have 800 retail sites in a country, you can deploy CounterBooks online with comprehensive training without ever visiting the retail site, thereby providing substantial cost savings and the ability to quickly deploy a network wide system.