In the world of information technology, it seems that every few years a new concept comes along that emerges as being the next great leap in technology. One of the current concepts that fits that description in the IT world is called cloud computing. However, before a company decides that it will embrace cloud computing, it needs to make sure that it understands all the implications of this new offering. As with most technologies, there are many benefits that can be gained, but along with understanding the benefits, the business risks must also be evaluated.
Cloud computing has become increasingly popular in the recent years with its outstanding features and ease of use. Organizations are shifting to the cloud for their accounting processes using services of IT hosting providers to access and work on applications like QuickBooks. In this regard, QuickBooks cloud computing is a boon for accounting professionals worldwide, especially for startups who cannot afford to buy and maintain the software requirements. Cloud hosting of the sophisticated software provides an efficient work culture and streamlines your cash flow.
Cloud and Accounting
Technological advancements have made accounting professionals place their trust in cloud technology and cloud-based accounting applications. Those who were early to embrace the cloud have reported the benefits they enjoy and an increase in productivity. Using a sophisticated software that streamlines cash flow, not just at the end but throughout the financial year. Working on cloud-hosted QuickBooks allows accounting professionals to become a crucial advisor in the business processes by projecting the current numbers to analyze for the future endearments.
Benefits of Cloud
It can be said without a doubt that the cloud improves work efficiency and communication between employees. There are ample amount of benefits that come with a cloud subscription. But why should accountants worry? To work faster and smarter with fewer networking issues, the cloud is the perfect option for your business. Cloud provides a secure platform and remote access to authenticated users giving them the freedom to work on their own time, on any device. One can work even from home which is a blessing during the tax season when the workload is an all-time high.
Below are some of the advantages that the cloud technology provides, specific to CPA firms and accounting professionals.
1. Low Infrastructure Cost
Moving your business to the cloud means no need to buy and install QuickBooks on your local device, no expenditure on technical equipment and maintenance. Also, no need to worry about the security of your data and files. Your hosting provider takes care of everything you need and provides a customer support team ready to help at all times.
2. A Paperless Office
Get rid of stacks of papers and files that accumulate in your office. Storing and browsing through the hard copy of documents is a difficult task. As most of the work nowadays is done digitally, you can store these files on the cloud which gets backed up on a regular basis, eliminating the danger of them getting lost or deleted.
3. Reduction in Downtime
Technology outages can be a real problem and eat up your work time. A typical web hosting provider has a dedicated team of professional IT experts continuously working to ensure that your business does not suffer a downtime.
4. Data Security
Financial data of your business includes sensitive information that needs to be saved on a secure platform. With QuickBooks cloud computing you get the optimum security of your files with multi-level encryption, latest antivirus applications, firewalls and user authentication. Also, data backed up on the cloud means no files are lost in case of any disaster.