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Understanding the Different Types of Loans Available to You

Different types of loans

While it would be lovely if everyone always had enough money for the things they need, that is not often the case. A large number of people in the USA are only a few hundred dollars away from some real financial struggles. As a result, many people rely on loans to cover emergencies or get the money they need to live.

In fact, tens of millions of Americans borrow money annually. Some need them to get a new car, to get an education, to purchase a home or just to pay their bills. But just what types of loans are available to the public? While there are many, this article is going to take a closer look at a few of the most popular. Without any further ado, this article is going to look at a few of the different types of available loans to help you understand them.

Secured Loans

A secured loan is a loan that is backed by some sort of collateral. This could be your car, your home or any number of other things. This is to reduce the risk that is taken on by the lender and can help more people gain access to the funding they need.

Secured loans often have a lower interest rate than other types of loans, as there is less inherent risk for lenders. However, it is important to be careful with secured loans. If you default on these loans, you risk losing the asset that you put up for collateral. As a result, be sure to always make your payments on time and in full.

So whether you get some car title loans in Victorville, or a mortgage in Los Angeles, you will require a secured loan.

Unsecured Loans

Another type of personal loan you can get is an unsecured loan. Unsecured loans don’t require any type of collateral and are the most common type of personal loan to get. These loans can be used for many different things and are offered by many different lenders. They will generally have higher interest rates than secured loans, but many lenders offer different rates for different people.

Because there is no collateral, these loans can often be more difficult for those with low credit scores to get. This is because lenders only use your creditworthiness to decide whether to lend to you and how much to lend. The interest rates for those with bad credit will also generally be higher. When seeking an unsecured loan, it is a good idea to shop around and find the right lender.

Payday Loans

If you’re in a pinch and need money quickly, this is often the only option available. Payday loans are short term loans that are often used to hold someone over until their next payday. They are generally for small amounts and need to be repaid by your next payday, normally a few weeks up to a month. They are generally very quick and easy to get and be approved for.

While these can get you money when no other option can, they aren’t cheap. Interest rates can be incredibly high and the included fees can be plentiful. It isn’t abnormal to see triple digit interest rates on these types of loans. These are often regulated by the state, so payday loans will differ from place to place.

Generally, unless you really need the money, it is best to avoid payday loans as they can be predatory in nature with their fees and sky-high interest rates.

In conclusion, hopefully this article has been able to help you understand the various different kinds of loans that you can use.

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4 Types of Facebook Live Videos that Help Market Your Brand

Social media forums have immensely grown the department of marketing with the help of its unique features and the ability to reach people from every corner of the world. Not only do the experts of marketing use SMART (an acronym for specific, measurable, agreed upon, realistic, time-based) strategies to keep the ball rolling, the laymen have also found ways to gain popularity over days and gain followers. It is all about knowing beyond what your audience needs and the methods to attract their attention.

Facebook is the most used social media application that everyone around the world uses. Very recently, it added some new features in its application that leveled up the marketing game in the field of e-commerce. Facebook, which was previously used to connect with loved ones, has now multiple functions that involve connecting with a versatile customer base through the means of live video sessions. Live videos always gather more attention than the other video. They spark curiosity of the viewers to know what is going around the world in the present moment. One can use this technique to spread awareness of their brand across the world. 

Speaking of awareness, let us discuss all those functions that people have been using Facebook live for. 

Many organizations are using Facebook Live to train workforce by delivering online training lessons. Facebook live also helps in creating a group of followers by introducing people with the concept of brand initially, and then the details of it in episodes or series of sessions. Once you have interested the audience with your thoughtful sessions, there is no way they would not return to learn more about your brand especially when they are interested in buying your service. Your job is to keep the content of your Facebook live sessions useful and interesting in order to keep the audience hooked. You can follow multiple methods, brainstorm and consult other companies to see how they have engaged their audience. In the end, it all depends on the kind of company or firm you are running, which will determine the strategies to promote your work. For example, if you are running a PR firm, you will get plenty of opportunities through Facebook live videos to keep your audience connected with your work by attending events to live stream them through your phone with the help of an application. Multiple surveys have shown that viewers find Facebook live videos more engaging than other types. Having said that, why not use this feature to promote brand awareness among the masses! If you want to know all those ways you can use this feature to advertise your brand, here are a few examples: 

1. Questions/Answers Live Session 

Without knowing what your audience wants, what questions they have on their minds regarding your product or what problems they are facing while using your product, you cannot build an audience and you cannot grow it from where it already is. You need to engage them in a manner that not only does it sort issues of your customer base but it also teaches them of the things that they don’t already know. You can make a complete setup by inviting a panel of a team that discusses questions regarding your services. The live Facebook coverage helps the audience sitting home interact with the panelists and discuss the issues they face with respect to your service. The viewers can simply type their questions in the comments sections and have them answered right away. This is one way every user of your service can engage virtually with your team and get their issues sorted out. 

2. Webinars 

As far as simple Q/A session is concerned, Facebook live videos work best in connecting you with the audience. The questions can be frequently asked and answered. Now comes the turn of webinars, which are basically seminars except for the fact that they are executed through an online platform: Facebook live video. Make sure your internet works well in order to support the complete coverage of your session/webinar. You can also watch video tutorials on YouTube about how to conduct interactive webinars for your business. Spectrum Gold Package can be a great option in this respect. Nevertheless, when it comes to arranging webinars, Facebook live could again be a great option for it can go live for as long as you want without charging anyone anything. You can go lengthy on the subjects that are of great importance. You can instruct your audience by installing a setup of the session in a room and have your viewers attend the webinar virtually through the live Facebook video. 

3. BTS Shots from Work 

You need to keep your audience aware of the struggle you put in the work so to offer them the service they deserve. The more you connect your customers with your work, the better relationship you build with them which may not entirely be based on the product or the service itself but the work environment that they see through your live videos. They get a sneak at your work inner environment and through there they get to understand the details surrounding your brand or service. This way they will learn more about you and your brand – the entire culture that helps them grow trust as well as interest with your services. This all helps to keep your audience close with you long-term. The reason is, these videos are authentic, unscripted and more real to the audience. The viewers always look for authenticity when they take interest in buying a service. 

4. Events Live Streaming 

Since it is something very recent, you would not see many brands or companies using this technique to publicize their services. It brings us to the point that it is a great opportunity for a lot of us to exercise this feature in our marketing techniques. Most of the brands you’d see using this technique are the sports agencies but this does not mean you cannot use it if your service is about shoes, furniture, etc. You can still organize an event and have it live-streamed on your Facebook page.

So, try the aforementioned Facebook live videos to spread the word about your brand and you will definitely see a positive shift in your business revenue.

Farhan Suleman

Farhan Suleman is a proficient writer
with a strong grip on the concepts of marketing, technology, design and
lifestyle. His articles have been featured on well-renowned sites including
Business2Community and Inspiration Feed. In his spare time, he likes to read
about the latest trends of the industry and play chess.

Twitter: @farhansule007 LinkedIn: Rao Farhan Suleman

The post 4 Types of Facebook Live Videos that Help Market Your Brand appeared first on Entrepreneurship Life.

7 Tips on How to Choose a Reliable Essay Service

Custom essay writing services have become popular among students. Learners often find themselves with too many assignments they cannot handle within the allocated period. Due to the increase in the demand for pre-written essays for sale, different writing companies have emerged. Some of the writing services are not genuine. Hence, students need to know how to identify reliable essay writing companies.

Cheap is expensive

Keep off from cheap essay writing sites that offer cheap essays within hours. When you make an order from such a service, you risk to have;

Plagiarized workA Low-quality orderThe same order send to other clients

Getting the best essay writing services would mean that you spend your money. While you are operating on a strict budget, remember that cheap does not imply a better essay.

Read customer reviews

Consider the testimonials of other clients before choosing an essay writing service. Reading the comments of customers who have worked with the company will give you an idea of how the service operates. Look for positive comments from clients. Ensure that the reviews match any expectations you may have for a top essay writing service.

Check their guarantees

Companies offering pre-written essays for sale online need to give some guarantees to their clients. Before committing to any company, ask yourself;

Does the service guarantee that it will deliver the job within the agreed time? Do they deliver orders that are 100% free of plagiarism? Do they maintain the confidentiality of their clients?  Does the company refund for low-quality orders?Do they promise that they will not sell your paper to other clients?

Do not place an order in a writing service if you are not satisfied with their promises. 

Check with your friends

Most probably, you know friends who have used pre-written essays. These are in a better position to advise you on the best services available. Ask them their experience with some of the services you think of contacting. Get views from different friends to determine the most appropriate service for you. 

Consider the expertise of the writers

Not any writer who can produce a high-quality job for you. You need to ascertain that the essay writer is a specialist in your respective field. Consider the academic qualification for the writer who will be working on your order. Ensure that writer has the required expertise and experience to deliver a good job.

Deadline

Time management is critical since your instructor has given you a strict deadline. The company should be in a position to deliver your order within the agreed time. You do not want a paper writing service that takes longer to deliver your job, hence causing you to submit the paper late. Agree with the writer, the amount of time needed to have the job completed. 

Customer Support

Custom essay writing services should have 24/7 customer support. You need to communicate with the company to know the progress of your order. Check of all the communication channels are working. A reliable service should respond promptly to your questions.

Conclusively, services providing already written papers have increased. This poses a challenge for students who wish to get assistance with their assignments. Before selecting an essay writing company, undertake extensive research. You now have the tips you need to identify an essay writing service that meets your needs. 

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Why Should You Get an SSL for Your Website?

Secure Sockets Layer (SSL) is a security method by which data is transferred over servers gets encrypted such that the website’s vulnerability to hacker attacks and phishing is reduced considerably. When people access an SSL-secured website, they feel confident that their sensitive data (credit card number, address, phone number, social security number, etc.) is secure and will not be hijacked by unscrupulous websites.

Why Get SSL?

Although getting SSL certification is not mandatory for all websites, the benefits you and your end-users get from SSL are many.

SSL certification can build customer’s trust on your websiteYour website becomes less vulnerable to hackers as all its data is encryptedSSL certificates can protect your website against phishing schemesSome SSL certifications add HTTPS in your URL that may get your site to rank higher in Google than HTTP sites.Warranty in SSL certificate covers damages incurred to end-users who experience fraudulent, unsecured websites. We’ll talk about the warranty a bit later.SSL certification is a mandatory requirement for all websites in the ambit of Payment Card Industry (PCI)



What about Free SSL certificates? 

Many website makers try to get around paying for SSL certificate by opting for a free certificate. This strategy has more cons than pros. Free certificates or self-validated SSL certificates do not offer any kind of reassurance to visitors. When people try to access such websites, most web browsers will issue an error message that reads- “This connection is unsecure.” While many people would still proceed by clicking “I understand the risks”, many would click “Get me out of here” and never return or recommend your website.

Free SSL certificates are virtually unregulated. Even if your website is compromised, it will appear secure and invite visitors. On the other hand, if you purchase certificate from a trusted vendor, you can revoke the certification and alert users of potential threats, thereby avoiding disputes later.

What is SSL certificate warranty? How much warranty do you need?

Warranty of an SSL certificate plays an important role in your final certificate purchase decision. Just like all insurances, SSL certificates also come with a warranty period and conditions. A point to note is that SSL warranties protect end-users for damages incurred on an unsecured website, not the warranty purchaser!

For example, an online shopper suffered a monetary loss the SSL provider should pay compensation to the shopper since they failed to alert users that the website is not secure. But this happens rarely since most users approach their credit card company or the website’s customer care instead of claiming damages from the SSL provider.  

Final Thoughts

Getting an SSL certificate for your website is a smart move to cultivate visitor trust and make your website safe from a data breach. When people trust your website, it makes them come back again.

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How To Effectively Design And Deliver Leadership Training With LMS?

When we say leadership development today is in crisis, you’ve got to believe us. It’s a part of real crisis that even World Economic Forum lists it as the third most important issue on its agenda. And, employees are less likely to trust their management when leadership skills are lacking. “A glaring gap exists between the leadership skills organizations have now and the ones they will need in five years,” stated the Association for Talent Development. Although this gap is a huge problem but can be fixed in time with a solution, i.e. consistent and effective leadership training. This is an obvious fix to the problem of inefficient leadership development but how do businesses effectively design and deliver training which helps produce the leaders they need? LMS which provides engaging, on-demand training and can be tailored to the needs of individuals is a great tool to help you get started. We’ll tell you how. Read on to know!

Create well-paced, short segments of training

As we consider the criticality of skills gap, it comes reinstated that a lot of training needs to be provided in this area. But, does it mean to overload your learners with all information at once? Absolutely not. Instead, break the enormous heap of information present to short, self paced segments and include them as a part of different modules of training course. And this is what is referred to as microlearning. At the start, make the training simple and introduce basic elements after all, you don’t want your learners to become weak leaders who are afraid of attractively massive facts and figures about leadership! Hence, crafting and delivering leadership themed microlearning is the way to commence.

Integrate coaching to employees’ learning path

Coaching is a great way to pass on crucial leadership skills as it often prompts leaders to reflect upon their learning and draw conclusions based on it. Using LMS for workforce development and in this case to facilitate coaching offers many advantages, eliminating any geographical barriers being the most pressing of them all. Learners are able to easily connect with coaches from around the world who provide the best direction to their career path and there are various online tools that facilitate the same. Moreover, simple LMS features like web conferencing and calendaring can be used to schedule and deliver one on one online training sessions which reinforces what the learners have grasped in their training program.

Make leadership training collaborative

An effective leader is someone who is good at collaborating with others, building teams, coaching people, developing strengths of individuals, and bringing out the best in them. You can create such leaders only when your leadership training is collaborative and not solitary. 

For this, make use of the plethora of social learning tools available like webinars, instant chat, document sharing, language localization, online community forums, and others alike. Use them and encourage your learners to communicate the key takeaways, mentor each other, and share more ideas. 

By implementing the aforementioned techniques, skills gap amongst your organization’s leaders shall reduce. So, stop waiting and get started with them today! 

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Gameplay Guide to Shaman’s Dream Slot

One of the most under sung tragedies of the modern human era is that of the Native American peoples who have spent the last several centuries in existential threat. Their culture is a prized object, and now more people are beginning to take notice, voicing their discontent with how they have been treated. No wonder either, because the Native American mode of thinking is incredibly enriching and interesting. Popular culture has, of course, taken notice, and you can now find examples of this theme across the spectrum of entertainment media. Online slots at Wizard Slots  have got to be the pick of the bunch though, and that’s largely down to Shaman’s Dream, a scintillating piece of gaming by Eyecon.

Bonuses on this Shaman Slot

The first thing you will notice about Shaman’s Dream is the absolutely divine background that is even visible through the game’s slightly translucent reels. Eyecon have gone for a glorious North American sunset here, complete with the iconic red shading that many associate with the continent.  There are 5 reels in front of this tranquil setting and 25 pay lines, meaning that this video slot is fairly traditional in its approach. As you may expect the symbols consist of a variety of Native American symbols such as, a dream-catcher, blade, magnificent eagle or wolf.

It is the latter in particular that you will really want to look out for, however, as the wolves constitute Shaman’s Dream’s wild icon. These are your most valuable symbols; however the dream catchers are also fantastic, as these award 15 free spins with a 3x multiplier. Although bare in mind you must see three or more upon the reels. Something else pretty neat about Shaman’s Dream is that it possesses a gamble feature. You may be accustomed to this from other games, but we’re not sure you can have a shot at quadrupling your winnings anywhere else. 

About Eyecon and Other Slots by Them 

Eyecon were founded in 1997 by a bunch of incredibly keen Australian online casino developers, and since then they really have proven their appetite for constant innovation and progress. The Brisbane based company really shot to fame with the release of iconic Fluffy Favourites series, proving that they really were serious about their online slot titles. That was 2006, however, and by now Eyecon have amassed a truly stupendous back-catalogue.

Final Thoughts on Shamans Dream Slot

There simply aren’t enough Native American slots out there that really do the culture justice, so on that basis alone Shaman’s Dream scores incredibly highly. Something else that is outstanding in this slot is the potentially very lucrative gamble feature. It really is rare to be able to quadruple your winnings, most games only offer to double them. So there you have it, Shaman’s Dream really is a top-quality online slot that is worthy of the higher echelons of the industry.

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Spin to Win Slot Games

Have you ever played slots? It is easy, you just need to start by spinning the reels from Daisy Slots Games. They will rotate until you get a fixed combination of symbols. What if that combination is a winning one? Well, then you can win a very big amount of money. Especially if that combination comes with a Wild or a Scatter symbols.

There are games which can guarantee its Players an RTP of 95, 96 and even 97%. Not bad, isn’t it?

Also, the mathematics behind has been conceived to favour the Players by ensuring a high percentage of winnings.

To understand how slots work, you need to first become aware of the kind of online games you can find, the most relevant features and the jackpots available.

Machines available 

The more reels a slot has, the highest the possibilities for you to win. There are three-reels, five-reels, seven-reels up to nine-reels. They can reach up to 100 paylines.

The recent innovation in the online casino world, the video machines, have known increased their popularity. They are mainly 5-reels with more than 50 symbols.

Also, progressive jackpot machines, work in a network. This means that the more the Players who choose to bet on them, the higher the final winnings. Being that rewarding, they require an initial bet way higher than non-progressive ones.

Slot relevant features 

Beside the traditional casino cards like A, K, Q, J, 10, and 9, online slots make use of special features.

Bonuses are different for each game. They can be activated every time the Players get a number of winning combinations. Their nature varies depending on what you decide to play: sometimes they give access to a number of free spins, sometimes your initial bet get multiplied by an ‘x’ number of times. They are special features which allow you to make the most of the game.

Free Spins are very profitable. They can be achieved by landing a number of special symbols or Wilds on a reel.

Scatter Symbols give access to a number of free spins.

Wild Symbols can be activated in the bonus round and usually replace all other symbols apart from the Scatter.

Jackpots available 

One, two, free, four, five times a year there are lucky Players who win big Jackpots.

Let’s see what the biggest jackpots are and how much they pay their Players: 

Mega Moolah and Hall of Gods for example are very rewarding game. They can make Players win up to 8 Million Pounds. This can happen three times per year. Unbelievable, isn’t?

The third one is the Gladiator. The Jackpot can get over 2.3 million Pounds. This can happen 4 times a year. Not bad!

Funky Fruits can pay you over 2 Million Pounds. This can happen up to four times per year. 

Final Thoughts 

Wide variety to choose from, rewarding features and big jackpots available. What are you waiting for? Online casinos are waiting for you. You just need to start spinning to win! 

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6 Effectual Secrets That Will Help Increase Your Website Traffic Instantly

As your experience in this industry has probably shown you, the competition is unbearable. You make several trips to Google, hoping to find a way to increase your conversions, and you’re not alone. A Million requests of similar nature are made by fellow bloggers. You look at successful websites and wonder how they got there because some are barely a month old, but already are receiving thousands of visitors each day.

Nobody is going to share with you what they did to get what they have. Those are golden secrets! The only place you can find them is in this generous article.

Market content in social media

Having a website without social media friends is like communicating with no audience. However good your content maybe, if you have no readers to compliment it, sure your blog will still lag. Do not overlook small platforms like Facebook and Twitter that are very suitable for uploading short links.

Ensure your LinkedIn connects 500+ and publish something. For videos and photos, use Instagram and Pinterest, respectively.

Write catchy headlines

You’d ignore an article with a very dull headline, and so would your visitors. Ensure the titles should be comprehensive and attractive. Lest you want a thumbs down rate? No, you don’t.

Request to guest blog on other blogs and vice versa

Look for blogs with a twin niche and post your content on their blog as you allow them to do the same. Their visitors will, for sure, have to see your content, and this, as simple as it may be, will add more traffic to your site.

When marketing content for other sites, be keen on originality and relevance. Avoid spam.

Communicate your brand in a unique manner

People, more so teenagers, who make 90% of the traffic you’re looking for prefer what’s most recommended by their peers. Therefore, how you present your brand story to them is essential. That pop advert isn’t enough; get an alluring layout for your site. Look for an excellent digital product design company to do this for you. We’re not only after traffic but also looking to increase conversions.

Invite well-known leaders for interviews

Even if you are a newbie in the industry? Yes, why not! These ‘big’ people are more than willing to talk because that is how they gain their fame. One may be arrogant one may turn you down, but Babel tower wasn’t built in a day.

Publish interviews you’ve had on your blog. People are likely to recognize and like your content. Many a time, the interviewee also wants the interview published on their websites and social media platforms. Doing this allows several people to receive their content.

Get ahead of rival sites

Know what bloggers of the same niche are doing and what they’re not doing. If they have videos, include videos to your content too, make your site faster and responsive than theirs and know how much they’re also earning. If being a little nosy can help, then go for it. There are even software like BuzzSumo, made specially to serve this purpose. Why would it still be a crime?

If these six golden secrets don’t work out, more so digital product design, you are certainly justified to complain about this information. First attract, then interest, and with occasional persuasion, enjoy your new rank! 

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How to Reduce Risk When Starting a New Business

Everything you do in life has risks. However, some activities are riskier than others. For example, starting a business comes with extreme risk – especially as only half of all businesses survive their first five years.

But this doesn’t mean that your business is doomed to failure is the are several things you can do to reduce risk when starting a new business. These tips are meant to give you a heads up on what to look out for when starting out and hopefully you can use one, or all of these, to increase your chances of success.

1. Have a Plan

While having a plan won’t guarantee your success, the absence of one will leave you vulnerable in the long-term. This doesn’t mean that you need to have a 200-page business plan for your business. But outlining some of the key steps that you need to take including how you will use your business plan will make it easier to achieve your goals.

As part of developing a solid business plan, you will need to detail how much money you will need to launch your business and how long it will take to reach breakeven. The latter is important as it will get you to start thinking about the actions you will need to take to get your business to a point where it is self-sufficient.

Having a plan is so important that you should have it for every investment you consider. If not, then you’re leaving your chances of success to nothing more than luck. Once again, having a plan won’t guarantee success, but not having one just about guarantees failure.

For example, if your business involved real estate and you don’t know where to start, then part of your plan might be to work with a real estate brokerage to help you identify the best opportunities on the market.

2. Just the Facts

There’s a saying in productivity improvement circles – in God we trust, all others bring data. This is something that you should extend to how you run your business. While there is always an element of gut or feeling when making decisions, your instinct should only come into play after you’ve reviewed the facts.

Failing to do so risks jumping in with both feet and this could leave you with no options if things go wrong. As such, you want to design a way to capture and interpret the key data about your business.

Doing so will help you to fact-based decisions about the direction of your business and in some cases will allow you an opportunity to get closer to your customers or gain an advantage in your competition.

3. Take Care of Your Customers

Another way to reduce risk when starting a business is to take care of your customers. This might seem like a no-brainer, but you would be surprised how many entrepreneurs forget how important their customers are to the success of their business.

Given everything entrepreneurs must juggle when they are starting a business this is understandable but at the same time, your customers are the ones who will keep your business going.

As such, you want to make sure that you maintain a positive attitude when it comes to dealing with your customers. If your customers are happy, then they are more likely to be loyal to your business and this will help you to grow.

4. Don’t Fall into the Debt Trap

When you’re starting, you might think that the only way to succeed is to get a loan. While there are times when credit can help you to grow your business, it can also be a double-edged sword.

As such, you want to have a plan for every loan you take out or risk falling into a debt trap. This should include how you will use the money and how you will repay the loan. Keep in mind the latter is just as important as the former as taking on debt without a clear idea on how you will repay it will end up costing you in the long run.

5. Be Insured

This should go without saying as insurance is there to help you reduce your exposure to risk. While you might not be able to afford insurance when first starting out, you will want to find an insurance agent who can help identify the right type of coverage you need as your business grows.

The lesson? Don’t leave it to risk, have a plan, rely on facts to make decisions, take care of your customers, be warry of debt, and be insured when starting a new business.

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Cloud versus Desktop Accounting: Which is Better for your Business?

In
the past few years, there’s been a steadily-growing trend to move as many
business functions to the cloud because it reduces infrastructure costs and
increases operational agility. While this tendency is certainly based on very
realistic advantages of the new method, it still makes sense to question
whether some specific functions such as accounting should be trusted within the
cloud. There are many factors to consider before making such a decision, from
technical capacity of the company to the volume of accounting work that needs
to be completed on a weekly level.

In this article, we will analyze the strengths and weaknesses of each group of solution from the perspective of a small business owner. We will discuss the topic impartially, taking different aspects of business operations into account and evaluating which type of accounting software package could produce more tangible benefits, depending on your business model.

Financial
considerations

Cloud
solutions are typically marketed differently than desktop software, so instead
of licenses the users are often asked to pay a monthly subscription. The
monthly amount is usually not very large, and there are often several packages
to choose from. Meanwhile, desktop solutions for accounting often come as a
part of larger corporate software suites and are implemented company-wide.
Licenses must be renewed every year in order to get full support for desktop
solutions, so the expenses are recurring in this mode as well. With this in
mind, smaller companies are usually better off in the final tally if they sign
up for a cloud service than if they opt for traditional accounting product.

Security
issues

Whenever
financial information needs to be sent to external servers, business owners
become a bit nervous. It’s true that there are inherent security risks when you
upload sensitive data to the cloud, but modern solutions use advanced
encryption and access control technologies, so in practice it’s very rare for
financial information stored on online servers to be compromised. With desktop
solutions, security challenges are completely different and mostly related to
limiting physical access to the computers used for accounting purposes and prevention
of intentional abuse by the employees.

Usability
and data sharing

One of the greatest advantages of cloud solutions for accounting is their plug-and-play nature. It’s very simple to log in, find invoice templates and other tools, and complete all your work on the online platform. Still, for some users there might be a transition period before they are completely comfortable with this kind of remote access. With desktop software, there’s no need for an active internet connection or verification procedures, but on the other hand such packages are often very complex and include a wide array of advanced options that might take a long time to master.  

Compatibility
with existing software

Although
it’s getting smaller every year, this is one area where traditional desktop
suites still have a slight advantage. If your company is already using a
business suite that has an accounting program, it may be best to stay within
the same ecosystem rather than risk compatibility problems between products
made by different vendors. On the other hand, smaller firms that don’t use a
shared IT system and may have just one person handling all accounting duties
don’t have to worry about such problems. Most cloud tools use standard data
formats anyway, so the risks that compatibility issues will arise are
relatively negligible for most users.

Final
verdict

Cloud
solutions are probably better suited for small and medium companies with
moderate accounting needs, but that doesn’t mean desktop tools are completely
obsolete either. Businesses that don’t want to invest in IT infrastructure and
data security may actually derive direct business value from cloud solutions
while cutting costs at the same time, which is extremely difficult to achieve
under any circumstances. However, companies that already use solid desktop
accounting solutions have no reason to switch to the cloud just because
everyone else seems to be doing so. In some cases, the decision may come down
to familiarity, since it’s often impractical to re-train accounting specialists
to use cloud tools and the managers may prefer to receive data reports in a
format they already know. In the years to come, however, many companies will at
least try cloud options, allowing them to make a well informed, rational
decision.

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