A Cloud Team’s Roundup
Last year, Forbes reported that by September 2018, 80% of businesses would be using cloud apps or solutions. Being at the forefront of cloud accounting services in Chicago, we wanted to share with you our favorite online tools and apps, along with the pros and cons of each that we use to live our most efficient life in the cloud.
Below are the pros and cons of our favorite online tools or apps for entrepreneurs:
Accounting
QuickBooks Online
Pros
- Big functionality for a variety of business models if you know how to set it up correctly;
- Integrates and syncs with a number of other cloud solutions;
- Can access it from various platforms; and
- Relatively intuitive.
Cons
- The price tag may be more than some users are willing to spend on an ongoing basis;
- It is not as easy to use as it first appears and lacks certain internal controls to prevent inexperienced users from making a mess of their books;
- Does not work well for companies dealing in multiple currencies;
- Not the best solution if you have a big inventory or big reporting needs; and
- Support is generally good, but sometimes can be a pain to receive in a timely manner.
Related Read: While we love QBO, there comes a time when you may have outgrown QuickBooks. Here’s our list to know for sure.
Task Management
Asana
Pros
- Easy-to-use;
- Reasonably priced, even for big teams;
- App is intuitive to use as well;
- Can add/sync app to Gmail and Google Calendar; and
- Great reminder system for tasks.
Cons
- Missing some functionality around team projects and calendars; and
- Certain tasks can be difficult to navigate through.
Expense Reporting
Expensify
Pros
- Easy-to-use interface for most people with some experience using apps;
- Easy to submit reports and code expenses;
- Prevent expense report fraud using domain control and company credit cards; and
- Can take photo of receipt and it will auto-populate the fields.
Cons
- The camera within the app does not always work. Often need to take a photo outside the app with your phone camera and upload the photo into Expensify; and
- Minimal reporting features. This can be worked around by integrating the app with other tools like Bill.com and/or QBO.
Bill Management
Bill.com
Pros
- Intuitive user interface;
- Syncs well with QBO;
- Creates an internal control workflow for bill payments;
- Might be the best support team we have worked with; and
- Makes reconciling bank accounts easy.
Cons
- Price; and
- Hard to adjust some of the default settings.
Payroll
Gusto
Pros
- Easy-to-use;
- Reasonably priced;
- Employees can log in and make changes themselves to their profiles for tax purposes; and
- Can actually replace work that might usually be done by a payroll administrator.
Cons
- Their support team does not seem to be as responsive as they used to be;
- Still missing some key POS and software integrations;
- Interface to QBO is not great; and
- Doesn’t assist with registering companies in new states.
Video Conference
Zoom
Pros
- Very intuitive;
- Video conferencing with large groups very easy;
- Rarely, if ever, fails;
- Can easily screen-share and record meetings;
- Can add an extension to easily schedule zooms in a calendar invite; and
- Users can join before host and use either computer or dial-in audio.
Cons
- Does not alert users to the fact that they have double-booked meetings over the same time frame; and
- Requires a lot of bandwith.
ERP System
Netsuite
Pros
- Good ERP System for companies that outgrow QuickBooks;
- Can handle companies with $100mil+ in revenue due to power and flexibility; and
- Can be fully customized to your needs.
Cons
- Big implementation and learning curve to put it into place; and
- Costly to implement it—annual licensing and user fees for software.
Whether or not Forbes was correct in their forecast, it is undeniable that more entrepreneurs are turning to the cloud for their business solutions. We hope this list of online tools and apps helps you decide what tools are right for you.
For more information, contact Chris Arndt at [email protected] or at 312.494.7014. Visit ORBA.com to learn more about our Cloud CFO Services.
