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Entrepreneurs and small business owners learn answers to fundamental questions on the hot issue of cloud accounting.
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De-Mystifying Cloud Accounting
Rich Wilson Cohen & Company
What is a “Cloud” Application?
• On-demand service provided via the internet
• Managed by the provider
• Typically subscription based or free
• Scalable
Example of Cloud Solutions
Forbes Top 100 Most Innovative Growth Companies • #10 – Concur Technologies
• #9 – Ultimate Software Group
• #3 – Monitise
• #2 – Netsuite
• #1 – Xero
Long Term/Viable Solution?
• Viable as individuals/companies embrace it
• Must be practical and beneficial
• Only practical and beneficial if supported by solutions/applications
Who Uses Cloud Solutions?
Services
Consumer Healthcare Software
Hospitality Other Nonprofit
FOUNDATION
Long Term/Viable Solution?
“The telephone has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.” – William Orton, Western Union President, 1876
There is only one constant with technology...
Darwin Wins!
Direct Benefits to Businesses
• Appeal to potential employees/clients
• Appeal to potential employees/clients
• Accessibility (web-based: mobile, tablet, computer)
Why Does Cohen & Company Work with the Cloud?
• Appeal to potential employees/clients
• Accessibility (web based – mobile, tablet, computer)
• Security
Why Does Cohen & Company Work with the Cloud?
• Appeal to potential employees/clients
• Accessibility (web based – mobile, tablet, computer)
• Security
• Scalability
Direct Benefits to Our Clients
Traditional Business
Invoicing
HR
Accounts Receivable
Vendors
Operations Accounting
Invoicing
Accounts Payable
R&D Purchase Orders
Payroll
Third Party Providers
IT
Scalable Cloud Solution Owner
Accounts Payable
Third Party Providers Accounts
Receivable
Accounting
Purchase Orders
R&D
IT
HR
Operations
Vendors
Invoicing
Payroll
Cloud Accounting Solutions
• Appeal to potential employees/clients
• Accessibility (web based – mobile, tablet, computer)
• Security
• Scalability
• Accessibility to relevant applications
Why Does Cohen & Company Work with the Cloud?
Cloud Accounting Solutions
Accessibility to Relevant Applications
• Appeal to potential employees/clients
• Security
• Accessibility (web based – mobile, tablet, computer)
• Scalability
• Accessibility to relevant applications
• Cost efficiencies
Why Does Cohen & Company Work with the Cloud?
• Appeal to potential employees/clients • Accessibility (web based – mobile, tablet,
computer) • Security • Scalability • Accessibility to relevant applications • Cost Efficiencies • Enhanced information
Why Does Cohen & Company Work with the Cloud?
• Appeal to potential employees/clients • Accessibility (web based – mobile, tablet,
computer) • Security • Scalability • Accessibility to relevant applications • Cost Efficiencies • Enhanced information • Collaboration
Why Does Cohen & Company Work with the Cloud?
Snapshot of key financial and operational data
MRR & ACV
Bookings
Customer Analysis
Churn Analysis
CEO Dashboard
Managing What’s Important to Your Organization
Managing What’s Important to Your Organization
Managing What’s Important to Your Organization
Managing What’s Important to Your Organization
Questions?
Thank You
I welcome the opportunity to talk with you:
Rich Wilson
216.774.1197
All trademarks mentioned in this presentation are the property of their respective companies. Intacct is a trademark of Intacct Corporation. QuickBooks is a registered trademark of Intuit, Inc. Xero is a trademark of Xero Limited.
