The earlier generation believed in capital expenses (CapEx). It preferred one-time spending and long-term peace of mind, because it didn’t have to give the investment a second glance. Millennials today prefer operational expenses (OpEx), i.e., paying ongoing costs for running a product, system or business. OpEx empowers millennials to examine the return on each investment they make, and optimise it.
One financial service, which is quickly moving towards this practice is Tally. Yes, Tally has moved to the Cloud. So how does Tally on Cloud (ToC) reduce operational expenses and improve return on investment for start-ups and SMEs? Here are five ways.
Offline Tally functions on Windows: This means a business must pay Microsoft for a license for each machine, or indulge in the malpractice of piracy. ToC solves this problem by functioning on a Linux platform. Also, since it’s on a cloud, it works on any system which can access the internet.
It saves massive time: Data and reports which could take one up to 10 minutes now get completed in as low as 45 seconds. ToC also rescues your employees from dreary hours of splitting Tally if the data becomes large, because… well, it’s on a cloud.
A cloud doesn’t need an in-house server. This means that a business doesn’t have to worry about purchasing, installing and maintaining a server. Work doesn’t stop because of server downtimes, nor is data lost in the event of a server or system crash.T
ToC can be accessed from any location. A user no longer has to sit in a stuffy cubicle to use Tally. This bodes well with the current work-from-anywhere culture which millennials love. But, does this present a risk of data theft? Is ToC safe? The answer to the questions is ‘no’ and ‘yes respectively.
ToC has a higher level of safety than the desktop version. It’s a two-layered security wall for users. The first layer of safety is handled by the vendor who provides ToC. The second layer of safety is provided by Tally itself. Hence, you can rest assured that your precious data is in a safe and efficient space when you switch to ToC.
In the short term, ToC may seem like an expensive affair. But in the long run, the scenario turns around on its head. Every start-up and SME which has adopted ToC has reported higher long-term saving, improved employee productivity, and faster results.
Today’s entrepreneurs are penny- and pound-wise. That’s why the way forward for them in every function, including accounting, is Cloud.