Navigating the move to the cloud

Posted on 19 June 2024

Transitioning from desktop solutions like MYOB, APS/Virtual Cabinet or Handisoft to the cloud can seem daunting for many accounting practices. However, with the right approach, tools, and vendor, this journey can be smooth and highly beneficial. In this blog, we explore key steps and strategies to help you confidently transition to the cloud, enhancing your practice’s efficiency and future-proofing your operations. 

As part of a recent webinar, we invited Business Operations Specialist, Anne-Marie Andrews from Nexia Edwards Marshall to share her experience. Nexia has two offices: a 15-user office in Darwin and an 80-user office in Adelaide. Ann-Marie won Nexia’s Growth and Innovation award in 2023 and has driven many projects in the business, including implementing FYI in March 2024. Annie joined us to discuss the decision-making process behind the change and the results experienced in the first three months. 

Embracing the Future 

As the accounting industry evolves, cloud adoption is becoming essential. Moving to the cloud offers significant benefits, including enhanced efficiency, real-time data access, and the ability to leverage advanced technologies like Artificial Intelligence (AI) and automation. 

The cloud offers efficiencies and gains that desktop solutions simply cannot match. The ability to do so much more efficiently and effectively makes the transition worthwhile.
Anne-Marie Andrews Business Operations Specialist
Nexia Edwards Marshall

AI is rapidly transforming the industry, much like the cloud did in its early days. Today, AI encompasses a wide range of technologies, from rules engines that automate basic tasks to advanced tools like robotics process automation (RPA) and generative AI. At FYI, we are heavily investing in AI with features like negative email alerts and deep Microsoft integration. However, while AI’s potential is vast, its most transformative applications are still developing. 

However, we believe that automating daily admin tasks and processes is already providing a return on investment. Automation in accounting is not a new concept; it has been evolving since the days of DOS, where simple commands could trigger a series of actions to streamline tasks. Modern automation builds on this foundation by enabling data analysis and pattern recognition, significantly decreasing operational costs. 

But the key takeaway here is that to gain these benefits, you need to be online. Transitioning to the cloud is no longer a new concept; it is a mature product and a necessary step to fully leverage the capabilities of modern technology, ensuring your accounting practice remains competitive and efficient in a rapidly evolving industry. 

Overcoming Common Challenges 

Over the past several years, it has become clear that the cloud is the future for the accounting industry. However, some practices still choose to stay on their desktop platforms, delaying their transition to the cloud. What are the barriers, and how can we address these concerns to ensure a smooth transition? 

Practice Sync 

Many accounting practices hesitate to move to the cloud due to fears of complex and costly transitions. However, phased implementation and comprehensive change management can mitigate these challenges. While options such as a hard cutover or dual maintenance come with their own risks, a gradual migration approach with FYI offers a low-risk, flexible solution. 

Seamlessly integrating with APS, MYOB, and other systems, FYI’s ‘Practice Sync’ tool allows you to smoothly transition your document management system to the cloud while keeping the rest of your operations on your desktop. This secure integration ensures that your practice data remains up-to-date with automatic syncing every 15 minutes, providing a seamless and secure connection between on-premise and cloud platforms, and offering a cost-effective bridge with minimal disruption to your team.  

FYI Practice Sync has been fantastic for us. Initially, there was a learning curve with migrating over 20 years of data from MYOB, but now that it's set up, it works perfectly. With data syncing every 15 minutes, our team is confident in its reliability.
Anne-Marie Andrews Business Operations Specialist
Nexia Edwards Marshall

Data and Feature Continuity 

Concerns about losing features or data during the migration process are common. However, with the right approach and tools, these risks can be effectively managed. 

We haven’t lost any features or data during our migration to FYI. The process was seamless, and the support from the FYI team was invaluable.
Anne-Marie Andrews Business Operations Specialist
Nexia Edwards Marshall

Data migration to FYI is completed with no loss, ensuring all critical information is securely transferred. All FYI data is stored securely in Amazon AWS data centres, featuring off-site backups, disaster recovery, multiple site synchronisation, and the highest levels of encryption. 

The data migration process to FYI was seamless. We were able to transfer all our historical data without any loss, ensuring continuity and efficiency for our entire team. The support from FYI was invaluable in making this transition smooth and trouble-free.
Anne-Marie Andrews Business Operations Specialist
Nexia Edwards Marshall

One of the key reasons why FYI has successfully onboarded so many clients is our significant investment in comprehensive learning tools. These tools ensure that your staff can engage with, and master, the platform even before the official start date. During the trial period, your team can access engaging learning modules that include interactive puzzles, knowledge checks, and hands-on training exercises. This hands-on approach not only makes onboarding easy but also ensures that your team continues to benefit from these resources long after the initial setup. 

The onboarding process was smooth and efficient, with engaging online training that our staff could access anytime, even months after going live.
Anne-Marie Andrews Business Operations Specialist
Nexia Edwards Marshall

Choosing the Right App Stack 

The complexity of selecting the right vendor stack can be daunting. Practices moving from desktop systems often feel pressured to choose the “perfect app stack” to avoid future issues. While selecting the right provider is important, the real key lies in flexibility and scalability. These ensure that practices can adjust their stack as needed without significant disruptions. 

FYI’s platform integrates seamlessly with a wide range of third-party applications, providing a unified and efficient ecosystem. This adaptability allows practices to scale and customise their app stack to meet evolving needs, ensuring continuous improvement and operational efficiency. 

The ability to seamlessly integrate FYI with our other cloud-based tools has been a game-changer. It has streamlined our processes and allowed us to work more efficiently.
Anne-Marie Andrews Business Operations Specalist
Nexia Edwards Marshall

Ready to Take the Leap? 

The future is now. Embrace the change and join the ranks of practices that have successfully transitioned to the cloud. Whether you’re just starting your journey or want to chat through the options available, FYI is here to support you every step of the way. 

Book a meeting today

Watch the webinar below for a deep dive into how to effectively navigate the move to the cloud.