Switching to cloud-based accounting software like Xero or MYOB can feel overwhelming, especially if you’re worried about security or reliability. Rest assured, these systems are built to protect your data and keep your business running smoothly. Let’s break down some common concerns and show why cloud accounting is a safe and smart choice.
Myth 1: The Cloud Isn’t Safe
Reality: Cloud accounting software is often more secure than storing data on your computer.
- Strong Data Protection: Your information is locked with advanced technology (called encryption) so no one else can read it, even if they try to break in.
- Extra Passwords for Safety: Multi-factor authentication requires a password plus a second step, like a text code, to log in. This makes it much harder for hackers to get in.
- Regular Security Checks: Companies like Xero and MYOB hire experts to check their systems for problems and fix them fast.
Myth 2: What If the Internet Goes Down?
Reality: Cloud accounting is designed to work smoothly, even if you lose internet access for a while.
- Always Available: Xero and MYOB promise their systems are running almost all the time—over 99.9% of the time, to be exact.
- Backup Plans: You can save reports or data ahead of time for offline use if necessary.
- Protected Against Disasters: Cloud data is saved in multiple locations, so your data stays safe and available even if one server has an issue.
Myth 3: My Information Isn’t Safe in the Cloud
Reality: Cloud platforms are built with safety in mind and follow strict rules to keep your data secure.
- Global Standards: Companies like Xero and MYOB follow international safety standards to protect your data. Xero is certified as compliant with ISO/IEC ISO27001:2022, the premier global information security. MYOB uses and follows industry best practices, including the globally recognised ISO 31000 Risk Management Standard and security controls based on the ISO 27001 Information Security Management Standard.
- Automatic Updates: The software updates itself to fix new issues, so you don’t have to worry about missing anything.
- Backups You Can Trust: Your data is automatically saved, so you can recover it quickly if something goes wrong.
Myth 4: Cloud Accounting Is Too Hard to Use
Reality: These platforms are designed to be user-friendly, even for people who aren’t tech-savvy.
- Easy to Navigate: Xero and MYOB have simple dashboards that make it easy to see how your business is doing.
- Help When You Need It: Both companies have videos, guides, and support teams ready to help you.
- Grows with Your Business: As your business expands, the software can add new features to meet your needs.
Myth 5: Everyone Needs Their Copy of the Files
Reality: With cloud accounting, your team and accounting partners work from the same file in real-time.
- No More Confusion: Everyone is looking at the same live version of the file. You don’t have to worry about juggling multiple versions or accidentally overwriting someone else’s changes.
- Collaborate Easily: Whether you’re working with your bookkeeper, accountant, or business partner, everyone can access the file anytime, from anywhere.
- Stay Updated: Changes made by one person are instantly visible to everyone, so you’re always on the same page.
This feature saves time and reduces mistakes, making cloud accounting an excellent tool for teamwork.
How You Can Stay Safe While Using Cloud Accounting
While these platforms are already secure, you can take extra steps to keep your data safe:
- Use strong passwords, and don’t reuse old ones.
- Turn on extra security features like multi-factor authentication.
- Check who in your team can access your account and update it regularly.
Why Cloud Accounting Is a Good Choice
Cloud-based accounting software is secure, reliable, and easy to use. It’s designed to make your life easier so you can focus on growing your business instead of worrying about your books.
At MBC Group, we’re here to help you switch to cloud accounting as smoothly as possible. Whether you have questions or need guidance, our team is ready to support you every step of the way.
Take the Next Step
Want to learn more about how cloud accounting can help your business? Contact MBC Group today to find out how we can simplify your bookkeeping, help you harness the efficiency of technology and give you peace of mind.
