Author: Jennifer Brazer

Due to the significant changes brought about by the pandemic, there has been an unexpected shift in the workplace that has everyone scratching their heads. Following a year marked by layoffs, economic instability, and record-high unemployment, a dramatic change has occurred that no one could have predicted: people are quitting their jobs.

According to the Labor Department, 4 million workers quit their jobs in April of this year, putting job openings at a 20-year high. The worst part is that no one wants to fill these positions! We’re uncharted ground, known as “The Great Resignation.” Here’s what’s going on and why:

It’s safe to say that the year 2020 was chaotic. Individuals worldwide were concerned about their financial security, health, and future. 2020 was a period where people genuinely started evaluating where they were and where they desired to go. The flexibility afforded by remote schedules and paid unemployment proved vital to this.

The problem is that once things began to reopen and we started retaining some “normalcy,” employers expected employees to hop back on the 9-5 bandwagon, resuming up where they left off before the world seemed to close its doors again. Employees felt empowered and planned out things they had no idea wouldn’t go their way.

Employees now had the opportunity to contemplate because they were no longer bothered by the daily office grind or commute. Some people loved working from home so much that they vowed never to return to the office. Others arrived at the realization that they despised their current job and should switch to one that excites them.

Can you blame them, though? A year of a very worrying, exhausting, and anxiety-inducing period calls for re-examining all life choices, especially when it comes to working. This new season marks a new beginning. People are unwilling to pick up from where they left off. They are now not afraid to quit their monotonous lifestyle for something that genuinely ignites them.

Employees’ new willingness to leave jobs they are unhappy with should make employers think of ways to retain their staff members successfully.

What can you do as an employer to encourage employees to return to work?

Be Flexible

Why not allow employees to work from home if they are capable of doing so? Most staff is open to working in a hybrid schedule, coming in one or two days per week. Some employees are even willing to do more if they receive adequate compensation. It’s important to remember that happy employees are more productive.

Review Your Compensation and Benefits

Employees aren’t constantly asking for an increment (though it’s always lovely to grant them one occasionally!). Other benefits include additional paid time off, a remote or hybrid work schedule, paid volunteer time off, and paid parental leave.

Examine Your Company’s Culture

Employees want to feel they’re part of a company that cares about them, the community, and the rest of the world. Analyze the culture you’ve established to develop a more equal, varied, and inclusive environment.

As an employee, if you are going to join the masses and quit your job, consider this:

Be sure about the steps you’re going to take. List your negotiables and non-negotiables to explore positions that correspond with your goals. Scratch any that don’t fit your requirements.

Market your hard and soft skills if you switch to a new industry. Hard skills reflect your technical abilities (such as electrical engineering, computer programming, or accounting). In contrast, soft skills include skills you can utilize regardless of the nature of the job (i.e., customer service, communication, project management, etc.).

Be on an aggressive lookout for a new job. Though many jobs exist, understand that the competition will be fierce. Millions of other people are putting all their efforts into getting the same appealing job roles as you. So, be thorough in your search.

Make sure your LinkedIn profile and resume are up to date. If you fail to do so, recruiters and hiring managers will overlook you, even if you are highly qualified for the position. Maintaining your resume entails writing a résumé compatible with the applicant tracking system and peppering it with industry-specific keywords.

Network online or in real-time. Whether in person, in the grocery store, over LinkedIn, or at a friend’s birthday party- advertise yourself everywhere! Make as many connections as possible with relevant people and tell them you’re looking for a new job.

Learn how to negotiate. It would be excellent if you learned how to properly deal with the terms of your employment by speaking out for what you want. Negotiation skills can make or break the next stage of your career, determining whether your next job is a nightmare or a dream.

Where Do We Go From Here?

People pursuing their passions and seeking improved working conditions benefit employees and employers. Individuals putting forth these demands are also justified, given that wages have been flat for an extended time.

Employees may be in a crisis if they can’t find suitable jobs and have exhausted their money. Forcing them to work at a place that is perhaps worse than the one they quit. Thus, it’s best to take a balanced approach and not make rash decisions.

If you’re an employer, remember that people want to work under different and better circumstances. Andy Warhol has aptly said, “They always say time changes things, but you have to change them yourself.” Now is the time.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A bookkeeper’s job is to manage all the financial transactions in a company. Many small businesses require their bookkeepers to oversee everything coming in and going out. Should the bookkeeper commit an error, even a minor one, it could lead to hours of wasted time. Reviewing data and being vigilant for misplaced decimal points is essential. Such errors might inadvertently benefit your competitors, so preventing them from taking advantage of such opportunities is crucial.

How Bookkeepers Can Stay Competitive in the AI Age 

The only thing that bookkeepers are worried about is artificial intelligence replacing them. However, they should know they can still maintain their value if they do not make common mistakes. You have already heard about artificial intelligence and what it can do to the accounting profession in place of a normal human being. Artificial intelligence can do many things that a professional certified public accountant can do. AI can check and emphasize thousands of data points about their clients and take out financial history in just a few seconds by accelerating loan underwriting. It also assists in making financial decisions and implementing business strategies. All these functions are performed by artificial intelligence, just like humans. We can say that it performs these functions more rapidly and without mistakes from human error, even if they are professionals.

Know Your Roles and Perform Responsibilities

When comparing human work with artificial intelligence, there are many things that AI cannot do more efficiently than human beings. For example, making strategies and managing different things for the business and giving the business new insights, so you can say there is a broader scale between humans and artificial intelligence. The team leaders need to think about how automation methods and artificial intelligence change human beings’ roles and responsibilities. Staying up-to-date on new technologies and practices is imperative due to constant changes, recent developments, modernization of techniques, and artificial intelligence taking the place of human beings; it is a must for team members, whether young or old. They should take new pieces of training and different workshops to cope with their competitors and artificial intelligence. Artificial intelligence also brings the question of the firm’s future, but what would you do if your competitors got something new that you do not have? Suppose you want to stay in the game. In that case, your responsibility is to make your people better and give them training, but also, you are magnetically attracted to the newcomers who have new techniques. They know more than the old ones because time has changed and they have more knowledge than the previous ones.

Create an Attractive Environment

Suppose the next-generation accountants have more knowledge and use new and faster techniques than the old ones. Providing them with an attractive environment and a healthy culture is also necessary. And it is a question for the firm leaders. They should create a healthy environment for newcomers and the next generation because they are giving their best to you, and it’s your responsibility as a leader to provide them with the environment they want. If your employees don’t have all the required skills, suggest they review everything they could perform with artificial intelligence. A leader’s responsibility is to provide an environment where they can efficiently work. Also, many things, such as doing projects and collaboration, etc., are significant for promoting new talent. A good environment can help them grow and give you a more suitable product. In this case, Gen-Z has more experience with AI technologies than the older employees in the workforce. They are more diverse and more cause-driven than the generations that guided them in the past. Firm leaders need to know that the new generation is better educated than the previous ones, and it’s their responsibility.

Work in a More Intelligent Way

To answer the million-dollar (or $110 billion, to be more precise) question about whether AI will cut jobs for accountants: probably some. AI will most certainly replace many bookkeeping tasks, but whether this fundamentally means that people are out of a job comes down to leadership. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Many businesses are now using artificial intelligence to automate simple processes to increase the efficiency and productivity of their business, boost revenue, and stay ahead of their competitors. We are at a point where the employees need to work side by side with AI systems for a company to grow. Artificial intelligence can benefit your business with technology ranging from high-end data science to automated customer service and provide countless benefits. But the question arises: how to successfully implement artificial intelligence in your business? Machine learning (ML) can handle accounting processes, allowing accountants to focus on more important tasks and save valuable time. On the other hand, virtual assistants and chatbots have entirely transformed the customer service game by answering customer questions without waiting for a customer service representative to come online.

But to unlock these countless benefits, you must adopt artificial intelligence in your business. It will increase the efficiency and productivity of your business and improve the speed of business, improve monitoring, and reduce human error. Here are some steps to how you can adopt AI in your Business.

Identify Your Business Problems

First, identify a problem in your business that needs to be solved and assess those problems to determine where artificial intelligence can positively impact your business. You need to look for processes that take up the most time, require more employees, or cost more than necessary. It will allow you to recognize the weak points of your business and understand where you can use automation to your benefit. For example, using automated customer service, like chatbots, for answering customer queries will serve more customers faster and reduce human error. At the same time, employees will have more time to indulge in creative and critical tasks that will eventually benefit the business and boost revenue.

Create a Road Map

To incorporate machine learning into your business, you need to get organized and create a road map. Business owners must know how they are doing and whether they are prepared to manage an artificial intelligence system. To determine if the company manages and supports an AI system, consider a few things.

The right tech capabilities determine the technology you will need to successfully support AI automation of processes and solve your business problems. It involves both the hardware and the software.

Determine the resources and development you need to implement your plan to solve the identified issues quickly. Also, determine the processes you must perform to design and develop your approach effectively.

Find the sustainability and determine your capital to implement artificial intelligence and machine learning in your company.

After the initial implementation of artificial intelligence and machine learning, it requires continued governance, reinvestment, and resources.

Set a goal of the criteria you see as a measure of success and plan for your company. 

Conclusion

Artificial intelligence and machine learning systems are only as good as the data they are trained for. The data and feedback created through their processes will be available for analysis, which allows the employees or the business owner to determine if there is more room for automation or support. It also shows the company’s progress and growth using artificial intelligence and machine learning systems in terms of saved hours, better monitoring, increased productivity, and revenue.

The business owner should also start with a small project with a pilot vendor instead of a vast undertaking. It allows the employees to get a grip on the AI and ML systems by replacing one process at a time and gives them a clear view of how each process is affected by Artificial intelligence. They can then aim for big projects to complete their goals one step at a time. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the past 50 years, technological advancements have boomed to the extent that they have become an essential part of businesses’ operations. Just two decades back, spreadsheets were the go-to option for most firms and accountants. It offered ease, automation to some extent, and visualization. It was a miracle to have you by your side back in the day. Accountants who knew how to work on spreadsheets were considered a notch above those who didn’t. It wouldn’t be wrong to say that excelling in spreadsheets became a skill set many accountants acquired to advance in their careers. Unfortunately, like all good things, the time for spreadsheets also came to an end.

With more and more advancements in software solutions, companies started relying more on CRM customer relationship management software. CRMs offered what spreadsheets did not: the ability to connect to multiple software, be customized, and, most importantly, perform functions automatically. Be it accounting, lead generation, customer management, or inventory management, CRMs have become a one-point solution for most businesses. Yet, shockingly, many companies are still deciding whether to switch to CRM. While the obvious answer is yes, here are a few reasons if you can still not choose.

CRMs are an Ecosystem

An ecosystem can be defined as a bunch of software that would integrate to give you an all-in-one solution. That’s what CRM has to offer. Whether you are running marketing campaigns and want your leads to appear in software from which you can email, call, or text them or keep your inventory 24/7 updated on your website or for your sales agents, a CRM can be your go-to platform.

Automated Functionalities

Since CRM is software, it can handle most minor mathematics easily. From an accounting perspective, you don’t have to calculate your balance sheet now and then. When a customer purchases a product on your website, it automatically gets deducted from the inventory posted in your account. The rest of the calculations happen automatically.

Visualization is Up to Date

For most business owners, it is crucial to be aware of the progress or failure of their business. While in spreadsheets, this might require a lot of time since your team members would have to update every transaction manually. Since everything happens in seconds, you can access the CRM at any given point to see the performance of your business. With graphical displays, you can visualize instantly instead of going through numbers.

Security and Reliability

Most importantly, CRMs offer high security of your data, which isn’t there for spreadsheets. With CRMs, data is always secured on a server or the cloud. You don’t have to worry about your information being stolen by an employee or outsider since they will have to log in, work on the data, and leave it there.

Total Control of Your Business

Finally, unlike spreadsheets, you can continuously monitor every aspect of your business with a CRM—the number of leads generated, the inventory items, the balance sheet, etc. With a CRM, you can see which team is performing and which isn’t.

Why wait? Switch to a CRM now.

Anyone working with a CRM would testify that it has made their lives easier. Business management has become a breeze, and managing accounts become more accessible than ever. Whether you are a small business owner or run a medium-sized business, a CRM will automate your processes to the extent that you will spend more time planning and analyzing than counting the numbers. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

PMI is mortgage insurance that purchasers with a down payment of less than 20% of the property’s value are obliged to pay for a traditional loan. However, several lenders have low-down-payment programs that allow you to put as little as 3% down on a home. PMI, which protects the lender’s investment if you default on your mortgage, is the price of such flexibility. In other words, PMI protects the lender rather than you.

In default, PMI allows lenders to recoup more of their funds. Because you hold a lesser share in your house, lenders demand coverage for down payments of less than 20% of the purchase price. In addition, mortgage lenders loan you more money upfront, so you risk losing more if you default within the first few years of ownership. Property insurance is required for loans insured by the Federal Housing, or FHA loans, although the requirements differ from conventional loans (more on that later).

How Private Mortgage Insurance Works

It can provide mortgage insurance with a typical pay-as-you-go premium payment or capitalized in a lump sum payment when the mortgage is created. Homeowners who must have an SME due to the 80% loan-to-value rule can request that the insurance policy be canceled once 20% of the principal balance has been paid.

What Factors Should I Consider When Deciding on a Loan That Requires a PMI?

As with other types of home insurance, a PMI can help you meet the requirements for a loan that would otherwise not be possible. But you can increase the cost of your installment. In addition, you will not protect yourself if you are liable to have problems with your mortgage; it only protects the moneylender.

Sometimes, lenders offer conventional loans with smaller payments that do not require a PMI. You pay a higher interest rate with these loans. Paying a greater interest rate may be more or less expensive than a PMI; it depends on several factors, including how long you think to stay in the house. You may also want to consult with a tax advisor if you pay more interest; a PMI could affect your taxes differently. The borrowers who pay a low initial payment may also consider other types of loans, such as an FHA loan. Diverse types of loans can be more or less expensive than a conventional loan with a PMI, depending on your credit score, the amount of your initial payment, the lender, and the general conditions of the market.

You can also consider saving the money to make an initial payment of 20%. No PMI is required when an initial payment of 20% is required with a conventional installment. Furthermore, you could receive a lower interest rate with 20% of the initial payment. Ask lenders to teach detailed prices for the options and then see the best offer.

You can cancel the monthly press of the mortgage insurance once you have accumulated some capital in your home. Please obtain more information about their rights and ask lenders about their cancellation policies. Private home insurance protects the lender. If you are late in your payments, the PMI will not protect you, and you may lose your home by foreclosure.

Suppose you do not save the 20% deposit; several ways to avoid the PMI exist. One is to find a loan plan with a smaller down payment requiring a PMI. Unfortunately, these plans often have higher interest rates, which overall can be higher than what you pay for the PMI.

Another way is to explore FHA loans. It is a home loan backed by the government, and the Federal Housing Administration provides insurance to borrowers. However, the best way to avoid PMI is to save enough money to pay your mortgage a 20% down payment. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Determine Your Average Income and Expenses

If you’ve had inconsistent revenue for a few years, one technique is to compute your average net income over the last three years, divide by 12, and use that number to create your current monthly budget. If this amount is insufficient to meet all your costs, consider how you may supplement and raise your income regularly or reduce your spending to bring your budget back into balance.

Choose a System for Budgeting

You’ll need to pick a budget strategy that you’re confident will work for you. It is entirely up to you. Keep in mind that the budget always works.

You may budget with an unpredictable income in various ways, but one of the easiest is zero-based budgeting.

As the name says, this strategy assigns a distinct category to each dollar, peso, or equivalent currency in your budget. This strategy presupposes that you will accidentally discover a way to spend the unallocated funds. You’ll give each dollar a purpose each month to prevent wasting money.

Prioritize Your Expenses Based on Your Variable Income

After you’ve created your budget, you’ll need to rank your spending in order of significance. It entails figuring out which bills should be paid first, second, and third. The four walls, shelter, food, transportation, and utilities are usually in good order.

Suppose you have this priority in place; it guarantees you correctly allocate your money to your most essential budget items when you are paid. Despite your fluctuating income, you have the critical items paid for even if your salary doesn’t cover everything in your budget.

It may also entail making difficult choices and letting go of items you can’t afford, such as eating out or your Netflix membership. It’s critical to keep focused on your objective while determining your budget and avoid spending on things that aren’t required.

Create Your Emergency Fund

The easiest method to deal with periods of low income is to have a sufficient emergency fund. An emergency fund is money to cover costs incurred in an unexpected event, such as a medical crisis or a damaged automobile.

When planning for an irregular income, having an emergency fund might make you feel more at rest, knowing that you’ll be able to pay your obligations if anything unexpected happens or if you’re trapped in a period of low income for longer than intended.

Always Set Your Salary

You calculated your average earnings after calculating your wages for 6 or 12 months. And, regardless of the amount computed, you must specify your wage. This method helps you manage your money and gives you a sense of financial stability.

For example, assume you previously earned $1,500 monthly for six months. However, their monthly income for the remaining six months was 500 dollars. In other words, your 12-month earnings would be 12,000 dollars (1,500*6+500*6= 9,000+3,000). Divide 12,000 dollars by 12 months for an average income of 1,000 dollars. However, we must not forget that these values must be withdrawn from their tax and contribution commitments. You determine your compensation amount only after you have calculated your taxes and contributions.

Remember that you are not entitled to a holiday or a Christmas bonus as a self-employed individual. So, if you wish to plan your finances to save money for your holidays or Christmas, split the amount you withdraw to fulfill your commitments by 14 months.

Conclusion

Try using these five tips as soon as possible to help you solve your irregular expenses and get you on the path to suitable savings! Incorporating these practices into your financial management approach can help you maintain control over your finances, even when your income is unpredictable. With careful planning and discipline, you can achieve excellent financial stability and peace of mind in the face of irregular earnings. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

COVID-19 has significantly impacted global activities, especially in the economies of different countries, due to the hindrance businesses face. There are a lot of restrictions put on business operations, which are decreasing their sales; unemployment has increased globally during the pandemic, causing people to spend less, resulting in fewer sales for most businesses in different sectors. According to various research, the most challenging goal for companies to achieve during the pandemic is finding new customers for the industry, especially for new and startup businesses. Finding new customers is not the only challenge for new companies, but having existing customers revisit their businesses is tricky. Finding funds and sources of finance is also quite a challenge for new and established businesses. Even some stable companies find it hard to get references for finance to expand during the pandemic. Keeping up with laws and other policies and regulations was also very hard for new business owners. Another big problem businesses are facing is finding the right people for their business during COVID-19.

Many startup businesses cannot find a good HR team due to the lack of funds in the company, and they end up with no professional help to recruit employees, especially during the pandemic, which forces the entrepreneurs to do this job themselves. For an inexperienced recruiter, understanding all the rules and laws for employees, shortlisting applications, interviewing candidates, and running a background check can be extremely hectic and challenging. Finding the right people to operate the business is significant as a business’s real success depends on its staff’s productivity and behavior. Staff recruitment issues that are happening in startup businesses during the COVID-19 are listed below.

No Human Resources (HR) Team

Due to the lack of funds in the business, startups usually cannot hire a whole recruitment team that comes under the HR department. That means the business owner will have to recruit the employees by themselves, which takes up a lot of time and creates high costs. During the pandemic, it is already hard for entrepreneurs to make decisions as they are always worried about making the wrong move, resulting in disasters and failures.

Strict Checks on Employees

 After the world has been affected by COVID-19, new rules and regulations are starting to happen. For example, the recruiter should ensure their employees are vaccinated, follow the COVID regulations, and wear masks. It would also be the recruiter’s job to provide leave to the affected employees and bear the cost of the time they will not be working.

Not Finding the Right Match 

Due to facing a lot of financial struggles and losses during COVID-19, startup businesses prefer employees who are not demanding pay that could cost you an arm and a leg. But due to the sudden price increase worldwide, the employees would want enough salary to meet their ends. Finding the right candidate for your business during COVID-19 is quite challenging.

Frequent Changes and New Regulations

As the new Delta variant has emerged globally, the governments of different countries are putting up new rules and restrictions to prevent the spread of it. The new changing rules result in a change in consumer demand, which means you cannot predict how much staff you need to operate your business and meet the requirements to generate sales. This pressure can significantly affect your and your employees’ mental health.

Conclusion

Entrepreneurs who have started new businesses during COVID-19 should consider staffing tips and find ways to overcome the issues they face to make their businesses successful during this crucial time. It is challenging for new companies to survive during the pandemic, but it will not be hard to make their business successful and stable if they follow the right tactics. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Unlock Top Cloud Hosting Benefits for Your Business Success

Cloud hosting benefits include enhanced scalability, cost savings through pay-as-you-go models, enterprise-grade security, and superior performance that directly impact your bottom line. These advantages transform how modern businesses operate, cutting infrastructure costs by up to 66% while delivering 99.9999% uptime reliability.

When I migrated Complete Controller to cloud hosting in 2023, we slashed server costs by 40% and achieved the kind of uptime that once seemed impossible for a mid-sized financial services firm. Over my 20 years as CEO, I’ve guided hundreds of businesses through digital transformations, and cloud hosting consistently delivers the most dramatic operational improvements. This article reveals the specific strategies that make cloud hosting your competitive advantage—from the scalability secrets that helped Stripe process $3 billion daily to the remote work capabilities that boost team productivity by 25%.

What are the key cloud hosting benefits for modern businesses?

• Cloud hosting benefits encompass scalability, cost-efficiency, security, performance optimization, and reliability for business growth
• Businesses scale resources on-demand, paying only for actual usage without overprovisioning
• Enhanced security protocols include encryption, DDoS mitigation, and compliance frameworks that exceed traditional hosting
• Performance improvements deliver faster load times and minimal downtime through distributed server networks
• Remote teams access data seamlessly from anywhere, accelerating collaboration and operational efficiency

Scalability: Your Growth Engine Without Limits

Cloud hosting transforms your infrastructure into an elastic resource that expands and contracts with your business needs. Unlike traditional hosting that locks you into fixed server capacity, cloud platforms automatically adjust computing power, storage, and bandwidth based on real-time demand.

Major providers like AWS and Google Cloud distribute your workload across multiple servers, eliminating the bottlenecks that crash websites during traffic surges. This distributed architecture means your e-commerce store handles Black Friday traffic spikes without manual intervention—the system simply allocates more resources as customers arrive.

Dynamic resource allocation

Modern cloud platforms use intelligent load balancing to route traffic across available servers instantly. When your marketing campaign goes viral or seasonal demand peaks, the infrastructure scales up within seconds, not hours.

Hostinger’s cloud hosting demonstrates this with PHP worker allocation that adjusts based on concurrent visitors. A boutique store handling 200 daily visitors can suddenly accommodate 10,000 during a flash sale without crashing or slowing down.

Cost implications of scaling

Pay-as-you-go pricing revolutionizes how businesses budget for growth. DigitalOcean’s pricing model charges only for resources consumed, eliminating the waste of idle server capacity.

• Traditional hosting: $500/month for servers that sit 70% idle
• Cloud hosting: $150/month average, scaling to $400 only during peak days
• Result: 30-40% annual savings redirected to marketing and product development

According to CloudZero’s 2025 market analysis, 94% of large enterprises already use cloud hosting, with 60% of all organizations running over half their workloads in the cloud.

Unmatched Cost Efficiency: Transform Your IT Budget

Cloud hosting converts unpredictable capital expenses into manageable operational costs. This fundamental shift frees up cash flow for strategic investments rather than server purchases.

Cyber Command’s research shows businesses reduce compute and storage costs by up to 66% after cloud migration, with 80% of companies reporting significant financial benefits. These savings compound over time as providers continuously optimize their infrastructure.

CapEx to OpEx transformation

Traditional server purchases demand $15,000-50,000 upfront, plus ongoing maintenance contracts. Cloud hosting replaces these capital expenditures with predictable monthly fees starting at $10 for small businesses.

HP’s small business study documented 47% savings post-migration, allowing companies to reallocate funds toward revenue-generating activities. The financial flexibility proves especially valuable for startups and growing businesses that need every dollar working toward growth.

Hidden savings beyond infrastructure

The true cost benefits extend beyond server fees:

• No hardware replacement cycles every 3-5 years
• Zero maintenance staff requirements
• Automatic software updates included
• Energy costs absorbed by the provider
• Disaster recovery built into the service

Constellation Energy’s analysis found businesses reduce IT overhead by 67% when factoring in these hidden expenses. For every dollar spent on cloud migration, companies gain $3.86 in benefits according to Nucleus Research—a 12.5% increase from previous years.

Enterprise-Grade Security in the Cloud

Cloud providers invest billions in security infrastructure that small and medium businesses could never afford independently. This democratization of enterprise security protects your data better than any on-premise solution.

CISA’s cloud security guidelines highlight how major providers exceed traditional security standards through continuous monitoring, threat intelligence, and automated responses. Your data benefits from the same protection used by Fortune 500 companies.

Built-in security measures

Modern cloud platforms deploy multiple security layers:

• AI-driven firewalls blocking threats before they reach your applications
• SSL encryption for all data transmissions
• DDoS protection absorbing attacks up to 100Gbps
• Automated backups every 6 hours with point-in-time recovery
• Isolated environments preventing cross-contamination between clients

Cloudflare’s DDoS protection alone blocks 99.5% of attacks automatically, while Kelser Corporation’s research shows cloud environments experience 45% fewer security breaches than on-premise systems.

Compliance and data protection

Regulatory compliance becomes manageable when providers handle the technical requirements. NIST cloud computing guidelines ensure providers maintain:

• HIPAA compliance for healthcare data
• PCI DSS for payment processing
• GDPR for European customer information
• SOC 2 Type II auditing
• Geographic data sovereignty options

Real-World Success: How Businesses Leverage Cloud Power

A 200-product boutique e-commerce store migrated to Hostinger’s cloud platform and transformed their holiday season performance. Previously crashing at 500 concurrent visitors, they now handle 10,000 monthly visitors with sub-2-second load times.

WooCommerce optimization tools combined with CDN acceleration delivered:

• 40% sales increase during holiday peaks
• 60% reduction in cart abandonment
• Zero downtime during flash sales
• $2,400 annual savings versus dedicated hosting

Payment processor Stripe achieved 99.9999% uptime during Black Friday 2022, processing over $3 billion daily. This translates to just 31 seconds of downtime annually—reliability that builds customer trust and maximizes revenue.

Why I Champion Cloud Hosting: A Founder’s Perspective

At Complete Controller, our cloud migration journey taught valuable lessons about implementation strategy. We reduced bookkeeping errors by 27% through automated backups and real-time collaboration features that keep our distributed team synchronized.

The migration challenged our assumptions about data control. Initially worried about security, we discovered cloud providers offered better protection than our on-premise servers ever could. Multi-factor authentication, encryption at rest, and activity monitoring caught suspicious behavior we’d previously missed.

My advice for fellow founders: Start with non-critical workloads to build confidence. We piloted with our internal documentation system, then gradually moved client-facing applications as we verified performance improvements. This phased approach minimized risk while proving the technology.

Your 90-Day Cloud Migration Roadmap

1st Phase: Assessment (Days 1-15)

Audit your current infrastructure to identify migration priorities:

• Catalog all applications and their dependencies
• Document average traffic patterns and peak loads
• Calculate current total cost of ownership
• Identify compliance requirements
• Select pilot applications for initial migration

Compare providers based on your specific needs. Bluehost offers free migration services ideal for WordPress sites, while AWS provides enterprise-grade flexibility for complex applications.

2nd Phase: Execution (Days 16-60)

Begin migration with proper planning and testing:

1. Set up development environments in the cloud
2. Migrate data using automated tools during off-peak hours
3. Configure security settings and access controls
4. Test application performance under simulated load
5. Train team members on new workflows

Complete Technology’s migration guide emphasizes the importance of parallel running—keeping old systems active until cloud performance is verified.

3rd Phase: Optimization (Days 61-90)

Fine-tune your cloud environment for maximum efficiency:

• Enable auto-scaling rules based on traffic patterns
• Implement CDN caching for static content
• Optimize database queries for cloud architecture
• Set up monitoring dashboards and alerts
• Document disaster recovery procedures

Remote Work Revolution: Cloud as the Great Enabler

Cloud hosting powers the modern distributed workforce with seamless access to business applications from any location. Research shows companies using cloud solutions report 25% higher performance, 30% better collaboration, and 20% lower operating expenses for remote teams.

A tech firm with 50 remote developers reported 33% productivity gains after adopting cloud-based development environments. Latency dropped from 200ms to under 50ms globally, making real-time collaboration finally practical.

The cloud eliminates VPN bottlenecks and provides:

• Direct application access via secure browsers
• Real-time file synchronization across devices
• Video conferencing integration
• Mobile-optimized interfaces
• Activity tracking for compliance

Transform Your Business with Cloud Hosting Today

Cloud hosting delivers measurable advantages that compound over time. From 66% cost reductions to 99.9999% uptime, the benefits translate directly to your bottom line. Small businesses gain enterprise capabilities without enterprise budgets, while established companies unlock agility to compete in fast-changing markets.

The migration process, while requiring planning, pays dividends through operational efficiency and customer satisfaction. Every day you delay is money left on the table and opportunities missed.

Take the next step toward transforming your business infrastructure. Visit Complete Controller to speak with our cloud migration experts who understand the unique challenges facing growing businesses. We’ll assess your current setup and create a customized roadmap that maximizes your cloud hosting benefits while minimizing disruption.

Frequently Asked Questions About Cloud Hosting Benefits

What is cloud hosting and how does it work?

Cloud hosting distributes your website or application across multiple connected servers instead of one physical machine. When visitors access your site, the closest or least busy server responds, ensuring fast performance and preventing downtime if one server fails.

Is cloud hosting secure for sensitive financial data?

Yes, cloud hosting provides superior security for financial data through AES-256 encryption, isolated environments, and compliance certifications like SOC 2 and PCI DSS. Major providers invest more in security than most businesses could afford independently.

How much does cloud hosting cost for small businesses?

Entry-level cloud hosting starts at $10-20 per month for basic needs, scaling to $200-500 for growing businesses. You pay only for resources used, typically saving 30-40% versus traditional dedicated servers.

Can cloud hosting handle sudden traffic spikes?

Absolutely. Cloud hosting automatically scales resources during traffic surges, with providers like AWS handling millions of concurrent users. Auto-scaling prevents crashes during viral campaigns or seasonal peaks.

What’s the difference between cloud hosting and shared hosting?

Cloud hosting provides dedicated resources across multiple servers with guaranteed performance, while shared hosting partitions one server among many users. Cloud hosting eliminates “noisy neighbor” slowdowns and offers 10-50x better performance.

Sources 

• AWS. “Six Advantages of Cloud Computing.” 2024. https://aws.amazon.com/cloud-computing/
• Bluehost. “Cloud Hosting Services Guide.” 2024. https://www.bluehost.com/cloud-hosting
• CISA. “Cloud Security Guidelines.” 2024. https://www.cisa.gov
• Cloudflare. “DDoS Protection and Security.” 2024. https://www.cloudflare.com
• CloudZero. “90+ Cloud Computing Statistics: A 2025 Market Snapshot.” 2025. https://www.cloudzero.com/blog/cloud-computing-statistics/
• Complete Technology. “How Cloud Hosting Can Benefit Your Business.” 2025. https://completetechnology.com/cloud-hosting-benefits
• Constellation Energy. “Cloud Computing Energy Efficiency Report.” 2024. https://constellation.com/energy-efficiency
• Cyber Command. “Cloud Migration Cost Savings: 10 Proven Ways to Win.” 2025. https://cybercommand.com/cloud-migration-cost-savings/
• DigitalOcean. “What Is Cloud Hosting? A Comprehensive Guide.” 2024. https://www.digitalocean.com/cloud-hosting-guide
• Google Cloud. “Cloud Security and Compliance Framework.” 2024. https://cloud.google.com/security
• Hostinger. “What Is Cloud Hosting: Benefits and When to Use It.” 2025. https://www.hostinger.com/tutorials/what-is-cloud-hosting
• HP. “Benefits of Cloud Computing for Small Business.” 2021. https://www.hp.com/cloud-computing
• International Journal on Recent and Innovation Trends in Computing and Communication. “The Role of Cloud Computing in Enabling Remote Work.” Volume 11 Issue 11, 2023. https://ijritcc.org/index.php/ijritcc/article/download/11278/8650/14332
• Kelser Corporation. “Cloud Security Statistics.” 2024. https://www.kelser.com/cloud-security
• LogicMonitor. “Uptime vs. Availability.” 2024. https://www.logicmonitor.com/blog/uptime-vs-availability
• NIST. “Cloud Computing Guidelines.” 2024. https://www.nist.gov/topics/cloud-computing
• Nucleus Research. “Cloud Migration Returns $3.86 for Every Dollar Spent.” December 2023. https://www.oracle.com/a/ocom/docs/applications/erp/nucleus-report-cloud-migration.pdf
• Stripe. “2022 Infrastructure Report.” 2023. https://stripe.com/reports/infrastructure-2022
• Wikipedia. “Cloud Computing.” 2024. https://en.wikipedia.org/wiki/Cloud_computing
• WooCommerce. “Cloud Hosting Performance Guide.” 2024. https://woocommerce.com/hosting

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Here are expert guidelines for launching your new business successfully.

Starting a new business requires much hard work and effort as you must deal with many legal, financial, sales, marketing, human resources, and other issues. But without this struggle, you cannot turn your idea into a successful business.

In this article, we will give you some expert tips for entrepreneurs who are starting a new business.

How to Start a New Business

In the beginning, you might be wondering where to start. What should be the name and logo of your business, and how to tackle your business structure? It might not seem easy to know the proper steps to take. But don’t worry, that’s fine and happens to everyone. Starting your new business is about trial and error, and you must work to find out how that works for you and your customers.

Following are the steps you can take to help you kick-start the development of your business.

Determine What You Want

Before starting and launching your business, taking stock of yourself and your situation is essential.

Ask yourself the following questions:

• What is your reason for starting a new business?
• Which skills do you have?
• What do you know about different industries?
• Are you going to provide a service or a product?
• How much money do you have to invest?
• Will it be a part-time or full-time business?
• What do you like to do?

The answers to these questions will help you choose better options.

Conduct Self-Assessment

Before starting, you must plan, set goals, and know yourself. Try to analyze your strengths and weaknesses and how they will affect your day-to-day operations.

As your business grows, it will probably dominate your life, so make sure that what you do is challenging but not entirely outside your expertise. You will be in this phase for a long time, so choose wisely. It is better to ask the following questions from yourself on this step:

• What would you like to do if money was not an issue?
• Which is the one thing that matters the most to you?
• Is your family supporting you? Especially your immediate family? These people must make sacrifices at the beginning of your business, so they are there to help you.
• According to you, is money necessary? If it is crucial for you, you will cut out several options.

Conduct Market Research

Once you decide on the business that fits your goals and lifestyle, it’s time to evaluate your idea. Who is going to buy your products or services? Who will be your competitors? It will help you address your opportunity, competition sections, and your lean plan market size.

You can do this in several ways, including:

• Perform general Google searches.
• Talk to people already working in the relevant industry.
• Read a book by the people belonging to your industry.
• Research key people
• Read relevant industry magazines and news sites.
• If possible, take one or two classes.

Note Down Your Business Plan

A business plan is a necessity if you are seeking outside financing. A business plan will help you if you will finance the venture yourself. It will also help you figure out how much money you need to get started and how to make your business profitable. This business plan will be a road map to help you chart your progress and show you the right direction. It will also highlight what you need to do to reach your goals. Instead of using this plan only once, utilize it as a tool to help you manage your business and achieve your goals faster. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Recording all the economic data of a business relating to the company’s financial health is known as accounting. The accounting side of a business is what makes or breaks an organization.

A company’s accounting system includes a set pattern of recording all the data: the investment, the cost, profit, loss, or an asset. All this information is noted in different avenues of the accounting system of a business; this would include a balance sheet, an income statement, a profit & loss report, and cash flow statements. These financial calculations allow a business owner to judge their business and assess its progress in the market. 

But first, let us understand why you should keep paying attention to bookkeeping. Those business owners who do not pay any heed to business accounting and do not have a proper bookkeeping system could be in deep trouble. You should be a better business owner and keep your accounting system in check.

Why Is Accounting Important?

Accounting refers to jotting down all the transactions that make for the stability of your business. Setting up an inventory, sales, management, and every other aspect of business under the sun that has been added to your business plan to complete it needs to be identified and noted.

Noting down all the transactions done for the sake of the business plays a pivotal role in allowing the stakeholder to prepare their future decisions strategically. These decisions could potentially change the future of the company. 

This data also proves vital when a business owner is acquiring an investor. Accounting information reflects the company’s financial health and would cater to the organization’s future needs. The competition in the market is challenging, so the business owner needs to be fully equipped for the competitive air out there. To do this, the caretakers of the business must stay ahead in their accounts and have a correctly set system in place so that they do not have to deal with a plethora of calculations. 

Start From Day One: When you enter the market, you will receive a massive list of unsolicited advice, likely from those whose businesses have already drowned. Be smart and throw the list away because that list expects to be the suggestion: accounts can be taken care of later, do not worry.

The fact is it cannot take care of accounts later. A wise businessperson would always start on the first day of their business. Know that bookkeeping is just as essential for the business as setting up an inventory is. 

Do Not Mix Personal with Professional

You should create a separate bank account that would solely be for the finances of your business. If you do this right from the beginning, you will never face economic confusion because your personal and financial data will never intermingle. 

To open a business account, you could use your social security number (if you are the sole proprietor of your business). 

Create a Budget

Yes, we know finances can be tight when starting a new business. To keep yourself and your business in check, develop a straightforward budget to help you assess your company’s requirements. 

Once you have a budget set, the accounts clear by the end of the year. You can compare the two and see how your business has performed according to what you had in mind for it. 

A Bookkeeper or a Bookkeeping Software?

Business owners often make a mistake: they go into the business thinking they will be available 24/7 to cater to the company’s needs. It means they also decide to do the bookkeeping, which never happens. 

It would help to get a bookkeeper immediately before your financial records become a hot mess. A bookkeeper would oversee keeping your business accounts straight. 

You could also get bookkeeping software, which does the job automatically after being fed the required data. 

We hope you have read this article before diving into your business because now you know why you should pay heed to an accounting system. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.