In today’s digital age, businesses are required to adapt and evolve to keep up with changing times. In particular, digital transformation has become a necessary aspect of running a successful business. The transition to cloud-based solutions has been one of the breakthroughs in digital transformation, making company operations more efficient, cost-effective, and accessible.
Cloud-based solutions allow businesses to store and manage data online, which is accessible from anywhere with an internet connection (Source: Martins, 2020). This makes it easy for businesses to work remotely, collaborate with team members, and access information quickly. Xero, a cloud-based accounting software designed to assist small businesses to manage their financial operations, is one of the most popular cloud-based solutions available.