Online bookkeeping is booming

A new report shows that 50% of SMEs do their accounting online - a 40% increase over two years

According to a recent report by one of the world's largest accountancy and professional services, PricewaterhouseCoopers, the use of online accounting has risen by 40% over the last two years.

Both new and existing SMEs are becoming increasingly aware that online bookkeeping is an easy, cheap and flexible way of working with your accountant:

"The SMEs included in our report are very open-minded towards new technology - anything that makes their lives easier. And if they can save money at the same time, it makes them even happier", says Tonny Løbner, certified public accountant at PricewaterhouseCoopers.

Online access is important

50% of the SMEs included in the report use e-conomic:

"A lot of the companies outsource their bookkeeping and they do not want to spend money on a server. You have access to all functions online and everything is in one place, meaning that both we and our customers can access the same data anytime, anywhere.

It is also possible to send invoices to the public sector. Before we started using e-conomic, we had to have cash registers or pcs sent over, but now that we can access the system from everywhere, we can service our customers around the clock", says Tonny Løbner.

Keeping your data safe

Online bookkeeping helps SMEs get a better way of working as well as a more effective use of their accountant's ressources:

"We switched to the online accounting software e-conomic five years ago after a burglary when all of our pcs were stolen. Our accounting system was gone just like that, and we really wanted to avoid that in the future.

With e-conomic, we always have backup. I travel a lot, so an online accounting solution with a stock management module is ideal for us. I have access to our accounting data and to our stock regardless of where I am, and I can always calculate a cost price here and now.

We only pay a monthly fee, and there are no start-up expenses. Moreover, the system is much easier to use than the one we had before. Our ressources for the accontancy firm are also much better spent than previously. We now do our bookkeeping and paperwork ourselves and spend our money on business counselling", says Ole S. Hansen, CEO of Trade-Line.

Read the full article in Erhvervsbladet (in Danish).