Cloud Hosting: The Solution for Accountants

The fact of this generation is that if something can be on the cloud, it will be. Photos, files, contacts, projects, software, data, documents – it can all be held in cloud storage. Now, traditional accountants may have developed an unhealthy fear of the cloud and it’s relatives in the field of technology. Many conventional accountants liked to keep paper records, armed with simply a pencil, a calculator, and some scrap paper. Modern thinking accountants have adapted well to the aid that technology has given to the industry, using account software packages and virtual data storage. Forward thinking accountants are moving to the cloud.

Accounting is both essential and yet time consuming. Therefore, the birth of the technologically armed accountant is changing the industry and transforming the lives of everyday bookkeepers. The introduction of cloud computing technology is bringing a revolution to the way that businesses handle their accounts and the way that accountants handle their business. In this article we will discuss accounting cloud hosting in more detail, consider the benefits and what to look for when finding the right software solution for you.

What is Cloud Accounting Software?

With traditional accounting software, the platform is installed on-premises, on the individual machines of the users. Cloud accounting software is similar; however, it is hosted on remote servers offsite with the data being sent to the cloud to be process and returned to the user when requested. Users can access the software remotely over the Internet or another network.

What Are the Benefits of Cloud Hosted Accounting Software?

As with much of the progress in technology, there are greater advances to be had in this revolutionary way of storing and accessing accounting. Here are just a few of the advantages:

It’s easier to collaborate with others in real-time.

Working from the cloud means that teams can work together and with clients in real-time, no matter where they all are. It cuts out the multitude of emails of accounting files, and greatly simplifies operations as it’s a lot easier to share information without all the complications that come from different versions and formats of files. There is a greater level of security and safety with this sending of files too, which will give you and your clients peace of mind and reassurance.

It’s quick and reliable.

With a steady and reliable network connecting to high-performance servicers, you can experience a quick and painless operation using cloud-based software. It’s a much better experience than what would be the case on a local machine. Lag and interruption is kept to a minimum meaning less frustration while you’re working and much more efficient use of your time.

You can keep working even without your workstation

The pandemic caused great shifts in working trends as more and more people were forced, and then preferred, to work from home. When accounting software is hosted on the cloud, you can access it wherever you are and whenever you want, from a device of your choice. This gives you the ability to address customers’ requests instantly without having to go into the office and start up your work computer. You can even hop on your smartphone and sort things remotely.

You can easily access the latest version of the software.

An accounting software solution that is stored on the cloud will have the latest software for you to access. By simply signing in and getting started the updates will be applied with no further expense. The provider will also take care of automatic security updates to give you the best protected system.

It is efficient and easy to scale with your business.

As your accounting firm grows, and your client base increases, you will be able to scale up your software solution to keep up with the demands of your business. If you need to increase your storage and performance, a cloud-based software platform will have the resources to accomplish that. Third party software apps can also be integrated to provide further insight into forecasting and invoicing.

Your data is backed up regularly.

Often, backups are completed automatically, safely storing your data to ensure that you have the most up to date records on file. The protection that comes with cloud software can help you to depend less on the infrastructure of your physical office in the event of a disaster.

There are lots of financial benefits to cloud accounting software

With in-office systems, the IT team could wind up wasting a lot of time and resources on these systems when compared to when they are stored on the cloud. You also need to regularly upgrade desktops and invest in the technological infrastructure to support the in-house system which adds up to quite an expense. The IT team can be reduced and refocus their time when the system is on the cloud. Upgrades are automatic without extra expense, and it is possible to find a good deal for these systems too.

Makng the Move Online

Times are changing, and they’re changing quickly. Clients expect more, accountants need to provide more, and they need to do quicker, more efficiently and with more knowledge and understanding to navigate these turbulent waters. The problem is, if businesses don’t embrace the revolutions of technology, they run the risk of falling behind the competition. With smart, scalable, and perceptive software, accountants can be equipped with the tools they need to meet the challenge. With software that easy to implement, easy to adapt and easy to use, it makes life a lot… well… easier! Save yourself time, money, and stress by moving your work over to the cloud. Take your time and find a provider that’s best for you and your business, that meets your current needs while helping you to achieve your future goals. Do your research, stick to your goals and your budget, read reviews, ask for second and third opinions. When you take the time to do so, you’ll find a system that works for you.