COVID-19 was a rude wake-up call for businesses worldwide. It threw everything into chaos and brought in a slew of changes. Those who had measures to overcome it kept themselves running. Those who didn’t, we knew what happened to them. It is an example that illustrates why businesses must be future-proof.
But what exactly does future-proofing mean? How does TaxWise cloud hosting play a role in it? To understand this, let’s delve deeper into this discussion.
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What is Future-Proofing, and Why do You Need it?
Future-proofing involves devising and implementing key measures for adapting to sudden or gradual changes in the business environment. It helps your organization function seamlessly and mitigates stress.
Nowadays, business dynamics have become increasingly erratic. It has become harder to discern future trends that may influence your business. This has prompted business owners to develop different strategies to keep up with changing times.
How to Future-Proof Your Accounting Firm?
It is essential to keep several things in mind to future-proof your business. Tax professionals relying on multi-pronged strategies are often the most successful in future-proofing.
Tax professionals already have a lot on their table. Complex calculations, stringent regulations, and more! But, implementing the right technologies makes for a future-proof business structure. For instance, TaxWise on cloud offers tax professionals and firms some unique features.
How TaxWise Cloud Hosting Future Proofs Your Accounting Firm?
Hosted TaxWise from a reputed hosting provider has everything you need for future-proofing yourself. It involves installing your TaxWise software on remote data servers by your hosting provider. It carries immense benefits that make your accounting firm future-proof.
Let’s understand how:
1. Reduced IT management
Working with traditional TaxWise software carries immense IT responsibilities, and you must handle any repair or replacement. It wasn’t much of a problem in the past. However, the current and upcoming times are different. The competition has tightened up. Now, you can’t afford to focus much on non-core competencies.
With TaxWise cloud hosting in place, you can future-proof your business with minimum IT management. The entire IT infrastructure is deployed and run by your cloud hosting provider. All you need to do is manage the end-point devices. To further minimize that, you can implement BYOD. Your employees can use their devices to access TaxWise.
Furthermore, availing the services of TaxWise Cloud Hosting provider ensures maximum IT functionality and minimum downtime interference. Infrastructure scalability also ceases to be an issue. You have to contact your hosting provider for any resource updates simply. Just notify them, and they will do your bidding in a few hours!
2. Continuous remote accessibility
Earlier, most businesses worked in a usual nine-to-five work pattern from their offices. However, due to COVID-19, things changed because of ensuing lockdowns. Tax firms and other businesses that relied on locally-installed software suffered immensely. Their software could only be accessed from the system on which it had been initially installed. As a result, they were forced to shut down due to workplace inaccessibility.
But firms and tax professionals that hosted TaxWise on the cloud fared better than their counterparts. TaxWise cloud hosting enables your data and TaxWise software to be accessible anywhere. It works with any device. All you need is internet connectivity and the correct user credentials.
TaxWise cloud hosting has other benefits as well. COVID-19 made us realize how productive WFH is. This motivated many businesses to let their employees work remotely. With TaxWise cloud hosting, you can implement WFH. Reputed hosting providers provide up to 99.99% uptime availability, approximately 5 minutes of downtime per year.
3. Minimum security concerns
TaxWise has empowered tax professionals to complete their daily accounting tasks with much accuracy. However, they have to deal with sensitive financial data regularly. A small mistake could jeopardize their entire chain of command. Also, the desktops on which the software is installed are inadequate against modern security threats.
Hackers actively exploit vulnerabilities to find backdoors into systems. Once in, they maliciously use data to endanger you and your clients. In the future, these attacks are only going to increase.
But you can prevent unauthorized access with TaxWise cloud hosting from a renowned TaxWise hosting provider. They deploy a modern IDP system to identify and prevent unauthorized user access. Their security systems are also deployed with multiple firewalls, antivirus protection, data encryption, etc.
Furthermore, the data servers are physically fortified. The server rooms are protected with biometric authentication to prevent unauthorized personnel access.
4. Operational cost-effectiveness
Making your operations cost-effective is an integral part of running your business. You never know what an unexpected event might have in store for you. If there is a business change that requires immense investment, you already have cash for it!
However, the traditional TaxWise desktop environment leaves little room for cost-effectiveness. You are responsible for the entire operations management. Things become expensive if you have to scale up your IT infrastructure or carry out mass repairs and replacements. However, third-party TaxWise cloud hosting is significantly cost-effective. You will get a ready-to-use IT infrastructure with the latest TaxWise software via the cloud.
If you wish to scale up, you need to contact your hosting provider for additional resources. Once you do not need the extra resources, you can scale down to your original form. This ensures that you do not make any permanent investment while scaling up. You get the additional resources at an economical fee (adjusted in your subscription fee).
Migrating from on-premise TaxWise software to TaxWise Cloud hosting could reap multiple benefits. The benefits of remote accessibility, add-on integrations, reduced IT management, cost-effectiveness, etc., are to name a few.
If you are an accounting firm or a business that prioritizes the future-proofing of tax and accounting data, feel free to get in touch with our experts at +1-855-665-8910. We’ll be glad to assist you and resolve your queries.