Last updated on July 15th, 2022
Drake is a popular tax software among tax preparers, CPAs, and accountants. The software allows them to prepare accurate tax returns and increase their productivity with features like e-Signature, Drake Tax Planner, Drake Scheduler, and more.
However, tax professionals still face challenges like filing the returns on time, assisting their clients during non-business hours, collaborating with other team members, sharing files, and keeping the data secure.
Hosting Drake on the cloud enhances its capabilities, solving the problems mentioned above for tax professionals and tax firms.
Let’s shed some light on some of them in detail:
1. Access From Wherever, Whenever
Imagine that you’re on vacation and your client needs some consultation. There is no way for you to offer help as you cannot access the tax data. This is because your Drake software is installed on the local computer, and you can only access it when you’re on office premises.
Cloud-hosted Drake software allows tax professionals to access the tax data from any location via the Internet and have a better work-life balance. You can use your smartphone to access Drake at your convenience. This is something that is not possible using desktop-based Drake software. Also, you have the choice of using the device of your preference – smartphone, tablet, laptop, or iPad.
2. Incredible Performance
When you use Drake software on a local device, there will come a time when your system becomes slow, and the performance suffers. It will also decrease your productivity and cause data entry errors. Such situations hamper the growth of your tax business and may slow down its development as well.
However, when you host your Drake software on the cloud, most service providers use high-performance computing servers. This ensures that you do not experience any performance lag even while handling large data sets. You also have the liberty to integrate Drake with multiple applications and still experience incredible system performance.
3. Cost Savings
If you run a tax firm and decide to set up a dedicated server for Drake hosting, you need to set up your own IT infrastructure. It includes multiple expenses such as buying the hardware equipment and hiring professionals for its setup and maintenance.
Drake hosting eliminates the need to buy expensive IT hardware as everything is hosted on remote cloud servers. Your service provider takes care of the deployment of the Drake solution as well as its maintenance. This means that your business’s overall IT load is reduced, and you do not need to hire IT personnel to run your Drake hosting solution. Also, most solutions come with a pay-per-use model, meaning that you will only have to pay for only what you use.
4. Enhanced Data Security
One of the major concerns for every tax firm is the security of the data they handle. This is because this digital age and the work-from-home trend have opened gates for cybercriminals and hackers to access your data. Such incidents can destroy your company’s revenue, growth, and market reputation.
In the case of Drake software hosted on the cloud, reputed service providers offer advanced security features such as two-factor authentication, end-to-end encryption, intrusion detection, and the latest malware and antivirus. And to make it a foolproof solution, they also ensure that the data centers are also physically safeguarded.
5. Disaster Recovery
Disaster Recovery or DR is crucial when your business goes through tough times. For instance, if an earthquake hits your office location, it will be next to impossible for you and your employees to reach the premises if you use Drake software on legacy systems. It is also likely that you may lose all your data permanently.
However, this problem is solved with Drake cloud hosting. It ensures that your data is replicated in multiple data centers. This way, it is easy to recover it during tough times from any remote location.
6. High Availability
If tax firms use desktop-based Drake software, there are always chances of downtime due to hardware failure. This results in revenue loss as the total number of billable hours decreases and your employees’ productivity also decreases.
However, competent Drake hosting providers offer reliable 99.999% uptime. This ensures that your tax data is available round-the-clock and the total downtime is reduced to a few minutes per year. As a result, the billable hours are maximum, and your employees can work with maximum productivity.
Drake hosting adds value to the tax firms with features like remote access, better data security, high uptime, and disaster recovery. It also helps tax professionals to stop relying on the local IT infrastructure and its issues.
Wish to try Drake hosting for your business? Get in touch with our Solutions Consultant at 855-223-4887.
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