Tag: Sage 50cloud

sage 50 vs sage 50cloud

Sage 50 or Sage 50cloud – what’s the difference?

Sage 50 vs Sage 50cloud

Sage 50cloud is the newer and more feature-rich version of Sage 50. In this blog, we give you an idea of the added functionality of Sage 50cloud, letting you make a decision that’s right for YOU!

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The first point to make is that Sage 50 is not being ‘pushed out’ by Sage 50cloud. Your desktop version of Sage 50 will continue to work just fine into the future, but maybe you’re missing out on something by not moving to the latest version?

The second point we’d make is that if you’re already familiar with Sage 50, then making the move to Sage 50cloud will be a piece of cake. It’s just as intuitive to use, and you’ll feel right at home immediately.

sage 50 vs sage 50cloud

Remote Connection

So let’s look at what additional features Sage 50cloud can offer you and your business. Sage 50cloud is the ideal choice for ‘road warriors’, remote workers, the self-employed, or businesses that have multiple staff working outside of the office environs. Connected users can access key business data and information from Sage 50cloud via Office 365 integration.

Easy collaboration with your accountant.

Another big difference relates to ease of collaboration with your accountant, or with staff members at different sites. With Sage 50cloud the data being shared or worked on is secure and available. The big benefit of this is that any number of authorised people can access, review or amend the data in real time.

Safety and security.

Another big difference between these two versions of Sage Accounting relates to physical security. Imagine your office was burgled or went on fire – what would happen to your data? In most cases, it would be lost forever. With Sage 50cloud, however, using the scheduled backup option in Sage 50cloud Accounts and syncing with Microsoft Office 365, you can set your software to upload your backups automatically to Microsoft OneDrive. Therefore, it can be it’s stored securely in the cloud, and can be retrieved whenever or wherever you like. This offers a huge sense of peace of mind to small and medium-sized businesses.

Back-up of data

Sage 50cloud also means that your data can be scheduled in advance for back-up. And despite all our good intentions, many of us either forget to back up on a daily basis, or put it on the long finger. Remember, too, with the help of Microsoft OneDrive you won’t need any external hard drive for your back-up. It can be all waiting for you in the cloud, safe and secure, and impervious to the malware and spyware that threaten non-cloud environments.

Integrates with MS Office 365 for your ‘office anywhere’.

Another major benefit of Sage 50cloud is the fact that it offers full integration with Microsoft Office 365. You’re probably familiar with Office 365, but if you’re not, it’s become the preferred cloud-based provider of universally-used packages such as Microsoft Word, Microsoft PowerPoint and Microsoft Excel. There are very few offices in the country that don’t use at least one of these on a regular base.

Because Office 365 integrates so easily with Sage 50cloud, you effectively end up with an ‘Office Anywhere’ environment. You can run your business from a hotel bedroom, from a tradesman’s van, from your primary office, or from pretty much anywhere around the globe.

Stay on top of your expenses.

Expense Capture is another benefit of Sage 50cloud that you might not have expected. When you work on the move, you can often lose or misplace expense receipts. And if they don’t exist, they can’t be claimed for by the business – or the individual. Missing receipts can also drive your accounts personnel to distraction. With Sage 50cloud, however, your staff just use their smartphone to take a photo of their expense receipts. They can include a short note explaining the nature of the expense, and migrate this to Sage 50cloud via Office 365.

The power of Sage Drive.

Another handy feature of Sage 50cloud is Sage Drive. This is the engine which powers Sage 50cloud hybrid-cloud capabilities. What this means is that users appoint a Sage 50cloud Administrator (normally a member of staff) who can push all data into the cloud.
They then authorise users within your company – including your external accountant. The upshot of all of this is that any changes made by the authorised users are automatically synced back, so there’s never any doubt as to whether staff are viewing the most up-to-date version of a particular document or record.

Remote invoicing and admin is super-easy.

For companies who have sales reps working on the road, and who rarely visit the office, another handy feature of Sage 50cloud is the ability to engage in remote invoicing. Authorised users can create and send invoices remotely. Even better, these invoices can include a Sage Pay Now link. This lets the customer pay instantly via PayPal or an approved credit or debit card. This can be a massive plus for cashflow, and will prove very popular with your Financial Controller.
It’s also worth mentioning that these sales reps can access details on the customer via Microsoft Office 365. This can be anything from a delivery address to historical orders or payment history. This means that your reps can leave a meeting, log on from their car, and complete the paperwork there and then – with absolutely no need to return to base. This is a huge plus on the part of the cloud version of Sage Accounting.

Integrate other apps for even greater efficiency.

A final point we’d make is that Sage 50cloud also lets users integrate other applications that can increase efficiency and contribute to the bottom line.
The bottom line is with Sage 50cloud you can work smarter.

What Good Chief Financial Officers need to do to succeed

Once upon a time, the role of the Chief Financial Officer related primarily to “looking after the numbers’, making sure that the accounts of a company were properly and legally kept, and that the company enjoyed sound financial health. These days, however, that role has changed almost beyond recognition. More and more they’re using technology and software (such as Sage 50, now Sage 50cloud) to broaden their impact on their companies.

What Good Chief Financial Officers need to do to succeed

    It’s fair to say that few business roles have changed as much in the past decade or so as that of the CFO. More and more, they’re expected to have a new and broader skillset to compete successfully in a world of commerce that’s ‘always on’, and where traditional notions of geographical markets have been made obsolete by the internet.

    You could argue long and hard as to what makes an exceptional CFO these days, but it seems beyond argument that there are a number of key skills and aptitudes that are central to the task. In no particular order, here are our top choices.

    Strategic as well as tactical thinking. More and more, the CFO is involved in the most important decisions being made by the company – even if those decisions are in other areas such as Sales & Marketing or HR. At the end of the day, everything has an impact on the bottom line, so the CFO is the best placed to contribute to the debate on just how strong this impact may be.

    The CFO needs to be able to see the big picture, rather than just focus on the tactical and short-term elements of his job. It also helps if the CFO has a strong enough character to stand his ground against other heads of function in the company – particularly when defending an unpopular line of action. Obviously, being fully armed with data is important in this area, which is why software such as Sage 50 (now Sage 50cloud) is so important.

    The ability to understand data analytics. Much has been said about the role of big data, and how it can help companies to make decisions based on a range and a breadth of data that might not have been available to previous generations. The challenge now for the CFO is the ability to embrace big data rather than to fear it.

    What’s essential is that they have the ability to see what lurks behind big data, and to draw genuine business insights from the financial data that’s available to them – either from their own company, from their own industry sector, or from business in general.

    When it comes to understanding data, of course, software such as Sage 50 (now Sage 50cloud) truly comes into its own.

    The ability to be a team player. No matter how much a business decision may relate to finance, there will be a need to bring other people along with you. It really helps if your CFO has the political skills to persuade people of his position, and the ability to concede to a better opinion should it come onto the table. Stand-offs benefit nobody!

    This ability to be a team player doesn’t just relate to the other members of the C-Suite. Your CFO will also need the ability to work well with banks, with investors, with suppliers, with partners etc. And when the company gets big enough to have a large board – including outsiders – the CFO will need to get on with the members of it. The bottom line is that ego shouldn’t come into it – it’s the ultimate success of the business that matters most.

    Obviously, it helps if the CFO can argue with utter conviction, so being armed with the sort of information that software such as Sage 50 (now Sage 50cloud) can deliver is of vital importance.

    A willingness to embrace the best available technology. Technology changes so fast that some people are inclined to either ignore it, or worse still, to fear it. For a CFO, this would be an absolute disaster. There is so much software and technology available to the modern CFO that unless the CFO is willing to stay abreast of what’s happening in this space, it’s the company that will ultimately lose out.

    The bottom line is that financial information and financial technology are two of the biggest assets a company can have, whether in making strategic decision, setting more appropriate KPI’s or making accurate projections for the future, technology is of vital importance.

    The technology that’s available to the CFO is also critical in meeting the growing number of legislative requirements that the modern business faces. Failure to tackle this task ‘the easy way’ would be a major black mark for any financial supremo. It goes without saying that accounts software such as Sage 50 (now Sage 50cloud) come top of the list in terms of the technology that can give a CFO an advantage.

    The ability to lead from the front. Aside from the CEO, the CFO probably plays the most important leadership role in the company, and must be big enough to wear this mantle with courage and confidence.

    Many of the opportunities or the challenges that a company encounters will first come through the CFO, e.g. expansion opportunities, investment opportunities, restructuring needs. And rather than being a meek intermediary in bringing these challenges or opportunities to the broader company, the CFO needs to come to the table with recommendations and a strong opening position.

    More and more, it’s the CFO that drives change in an organisation, so being a leader is perhaps one of the biggest aptitudes that he can have. And if not a natural leader, then the onus is on him to learn the leadership skills that are demanded of him. Leadership, of course, demands that the leader is well informed, which is why software such as Sage 50 (now Sage 50cloud) is so important.

    The ability to look outwards as well as inwards. Very often, inspiration for a successful corporate team will come from a completely different company or a completely different sector. Having the ability to be open to inspiration from outside sources is an important factor in producing a truly successful CFO.
    Reading a lot, talking to other CFOs (across a range of companies and sectors), and having a broad range of personal and business interests can help a lot in this area. When it comes to this particular cat, curiosity is very definitely a major benefit!

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