Productivity is the great goal of business. If you’re a Microsoft 365 user, you have access to a tool that can easily increase your process efficiency. Here’s what you need to know about Microsoft’s Power Automate.
The public cloud services market has grown dramatically, and, according to Gartner, migrating to the cloud is a top priority for a third of companies. Analysts predicted the market would reach $266 billion in 2020. Accountants enjoy cloud computing, too. This article rounds up the advantages of available cloud services.
Cloud computing can help accountants:
- improve productivity;
- empower employees;
- optimize operations;
- reduce operating costs;
- backup better;
- scale effectively;
- add security.
Let’s talk about each of these in greater detail.
#1 Improve productivity
Cloud computing centralizes access. Files are available on any connected device, in real time. Avoid version control concerns as files pass among your team members or between you and the client. Everyone can work on the most recent file that is instantly updated in the cloud. The files are accessible on other devices if needed, too.
#2 Empower employees
The cloud enables on-demand access to computing resources. This includes software, networks, servers, and storage applications. Accountants can work from wherever they are, on their own timetable, from their own devices. With the widespread adoption of remote work, cloud services have become even more appealing.
Microsoft 365 represents a complete shift in the way we interact with modern business computing. If you haven't been introduced to it yet, now could be the time. Similar to the Microsoft Office desktop package that businesses have relied on for decades; Microsoft 365 does even more to provide the critical tools you need to modernize your business environment and take control of your business.
Built with the cloud in mind, Microsoft 365 allows you to access and modify your documents from any computer, tablet, or smartphone worldwide. These same cloud capabilities bring benefits to collaboration too. Groups and teams can work on a single document or group of files at the same time to maximize productivity and save time ahead of tight deadlines.
Safety, accessibility, and productivity are some of the amazing benefits Microsoft 365 has introduced to modern business. Each one has clear, but obvious benefits that can be applied.
This article breaks down the less obvious, but equally important aspects of Microsoft 365 that could apply within your firm. These features, unique to cloud-ready office packages, allow you to regain and maintain control of your business in any working environment.
Bringing You Additional Resources
There are times on projects where you need to collaborate with external
contractors. Whether utilizing a skilled sales copywriter, data entry
processor, or extra software developer; your business should be able to make
full use of a boost in manpower when it needs it. To do this, you need to
provide access to internal resources and systems.
There are millions of Microsoft 365 users globally. Businesses rely on the software to power email, drive productivity, and connect to colleagues. Forms is another great tool for users of Microsoft 365.
In April 2020, Office 365 became Microsoft 365. The value of the software suite to communication and collaboration remains intact. A Microsoft 365 subscription provides Word, Excel, Outlook, PowerPoint, and other useful applications. Those are the familiar options.
But Microsoft is always evolving its cloud-based services. Microsoft Teams is a chat-based workspace integrating people, content, and tools. There's also a To-Do application, Flow for managing notifications, and Power Bi Pro analytics. That's to name just a few.
Another good one to get comfortable with? Microsoft Forms.
Microsoft 365 Forms Makes Data Collection Easier
Microsoft Forms allows your business to create surveys, generate quizzes, conduct polls, and capture data.
Today, businesses are embracing digital technology to enable productivity anywhere, any time. Yet ensuring accountability is a stumbling block to widespread acceptance of remote work.
Recently, COVID-19 has forced many businesses to transition quickly to working from home. Even bosses concerned about lack of control over absent employees had to make the change. Former opponents to remote work may have discovered the benefits of this approach. Employees certainly may have enjoyed the opportunity and want to keep doing it.
The good news is that technology and products are even better today for managing remote teams.
Top Tools for Remote Work Accountability
Overall, employers need to trust their people. This is true whether they’re working on-site or from home. Still, for some supervisors, trust is easier with remote monitoring abilities.
Joint calendars are a common starting point. Microsoft 365, Google’s G Suite, and other tools allow staff to share calendars. People can still schedule personal appointments and keep those private, but the joint professional calendar lets everyone on a team stay in the know. Managers can go online to track sales meetings, client presentations, or team sessions.
How many seats are there at your C-suite table? A small business might have only a CEO. A mid-sized one may add another one or two C’s — COO? CFO? CMO? But you don’t have to be enterprise-sized to enjoy a Chief Information Officer’s (CIO) skillset. Virtual CIOs help any size business create a tech strategy to meet business goals.
Every business will shape the CIO role differently. Still, this individual typically has the following responsibilities:
- planning information technology (IT) strategy
- budgeting for technology to support business goals
- keeping abreast of current technology trends
- evaluating new technologies to improve productivity, enhance operational efficiency, and reduce costs
- building and maintaining an effective, motivated IT team
- inspiring and embracing technological innovation
- developing security, business continuity, and disaster recovery policies
Notice how this role differs from a Technology Director or IT Director. The director is typically more of a hands-on operationally focused IT leader. The TD or IT Director is more likely to be buying IT and managing the technical solutions.
The vCIO is a strategic consultant. He or she needs to understand the day-to-day operations, of course, but this role is more about bigger-picture thinking. As more technology is moved to the cloud and outsourced to partnerships, the vCIO is the outward-facing lead.
A vCIO takes a broad view of business technology needs. They prioritize IT needs and provide methods to improve regulatory compliance. With an eye to ROI, the vCIO builds vendor relationships and reviews the IT teams’ strengths.
No one is safe from cybersecurity threats or able to ignore digital transformation. But the healthcare industry faces extra pressures to keep its information technology healthy. Here’s why that’s the case and why a Managed Service Provider (MSP) partnership is just what the doctor ordered.
Healthcare shares many of the same concerns as other industries. Leaders want to reduce costs, increase productivity, and improve the bottom line. Many doctor’s offices are moving away from relying on paper files, insurance providers receive faxed claims, electronic medical records (EMR) have replaced rooms of filing cabinets, and medicine has gone mobile with data available on a centralized server in the cloud. Everything from surgery scheduling to patient payments can be processed online.
So, healthcare business technology needs to stay current. Remote access to patient records, imaging, and prescription history is expected. Virtual collaboration with colleagues is a new norm. Dashboards providing data analytics are in demand, too. Plus, all these new technologies need to be secure.
Every industry faces cybersecurity threats, yet healthcare handles personally identifying patient information and financial data, which makes it a prime target. Consider the ransomware attack that crippled Britain’s National Health Service (NHS). That 2017 WannaCry attack cost the NHS 92 million pounds, according to reports, that’s not including the damage to the NHS’s brand reputation.
High Standards for Healthcare IT
Healthcare must also address industry standards and compliance concerns. Data breaches are expensive for any organization. But healthcare regulations make even the loss of an unencrypted laptop costly. Healthcare clinics face fines for sharing patient data or falling victim to a cyberscam.