Cloud-Native Accounting: Smarter, Faster, and More Secure
What is a Cloud-Native System?
It is a software application or platform designed, built, and optimized specifically for cloud environments rather than being adapted from traditional, installable, on-premises systems, built to be scalable, resilient, secure, efficient and easy to manage.
Examples of well known cloud-native solutions are Netflix, Microsoft 365, Google Workspace, QuickBooks Online, Zoho One, and others.
Cloud-Native Accounting Systems
QuickBooks Online or QBO is a cloud-native solution with a subscription pricing model. It is one of the most popular cloud-based accounting solutions in the United States, especially for small and midsize businesses with multi-user collaboration.
Midsize and large businesses with extensive customization and complex accounting needs may find QuickBooks Online unsuitable. However, alternatives exist in the market to accommodate these company sizes and requirements. Oracle NetSuite, Microsoft Dynamics 365 and Odoo are compelling ERP (Enterprise Resource Planning) solutions, not only for accounting capabilities but also for a wide range of other business functions.
Is QuickBooks Desktop a Cloud-Native System?
No, QuickBooks Desktop is an installable solution that can be used on-premises or hosted in a cloud server with a licensed pricing model. Some businesses host QuickBooks desktop in a cloud server, but that does not make it cloud native. It continues to be an installable solution, running in a cloud virtual machine.
Which version is the best alternative for my business?
Keep in mind that QuickBooks Desktop is not a native cloud solution.
If your business is looking for a new accounting system, a cloud-native solution is the best choice. QuickBooks Online (QBO) and other cloud-native alternatives in the market like Xero, FreshBooks and Zoho Books are easy to learn and use, accessible remotely and on the go, and offer real-time syncing with your bank and other business integrations. Generally, small and midsize businesses should opt for cloud-native solutions.
Conclusion
Locally-installed software solutions like QuickBooks Desktop are a viable alternative only if your business requires industry-specific features and involves highly complex accounting needs. Scalability, automation, and security are the most important factors to consider, making a native cloud alternative the preferred choice, specially for small and midsize businesses.
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