Cloud hosting is a buzzword that is making the rounds across various industries. Now and then, you will hear about the amazing benefits of cloud hosting. Many industries are now actively using cloud hosting for their business operations.
Accounting firms are now following in their footsteps and using cloud hosting. During a tax season, cloud hosting is something that can provide them with great returns. Most of them use traditional local system deployment, which presents several difficulties. These are limited accessibility, security concerns, tedious IT management, etc.
Here are three reasons why cloud hosting is a solution for every accounting firm:
1. Remote Access
COVID-19 has dramatically influenced our modern work dynamics. In the past two years, it has led to a steep rise in Work from Home (WFH) mode. This turned out to be a blessing in disguise. According to a survey by ConnectSolutions, 77% of remote employees showed increased productivity. They had an overall better work output. This has prompted various prominent companies to implement WFH permanently. However, for this to work, businesses must be able to work remotely. Most businesses usually rely on local software deployment. Besides, their software and data access are confined to a particular device.
During the tax season, you too will want your employees to be more productive and efficient. But for that, your software and data must be remotely accessible. While using laptops is an option, there are a few issues. Firstly, it is feasible for accounting firms already using laptops. Secondly, it is challenging even if you provide laptops to the employees. You must get every employee a laptop and that will carry an expensive price tag. So, what to do? The answer is cloud hosting.
A cloud-hosted solution provides you with access to your software and data anywhere, anytime. You can use any compatible device. Your employees can use their devices to WFH. The minimum requirements are just valid credentials and internet connectivity.
Furthermore, you don’t need to set up your cloud infrastructure. You can get it from a third-party hosting provider. A reputed cloud hosting provider can quickly migrate your data to their cloud servers. For instance, accounting firms can host their favorite applications like QuickBooks, Sage, Lacerte, etc., on the cloud with the help of third-party providers
2. Keeping Everything Safe
COVID-19 isn’t the only thing you must protect yourself from these days. There is something more complicated that standard quarantine protocols can’t control. During COVID-19, there was a tremendous hike in cyber-attacks.
With time, hackers have diversified. They now use modern hacking techniques that are pretty complicated to evade. With them, they can easily bypass conventional security measures. As an accounting firm, this is something you must be worried about.
Most CPAs and accounting firms still operate using desktops and laptops. They don’t have access to modern security frameworks. This makes them an easy target for hackers—something you don’t want during any tax season. But there is a solution—the cloud.
A cloud-hosted solution from a reputed hosting provider is ideal for combating modern cyber-attacks. They have a centralized security framework. Any security added to the cloud collectively protects the entire data and software hosted over it. Their security definitions include the latest IDP system, modern anti-malware/antivirus protection, firewalls, and DDoS protection. Also, the data transmission is protected with advanced bank-grade encryption.
3. Managing IT for You
Do you know the most significant limitation to owning your IT infrastructure? You have to manage everything! You control everything from the initial procurement to its deployment and maintenance. So, anytime anything fails, you have to manage the subsequent repairs or replacements. Keeping a round-the-clock IT team is also not an evergreen solution. Firstly, they are quite expensive to hire. Secondly, what about the repair costs even if you hire a team? Every time a component fails, it is you paying for it.
Also, what about the repair time? During tax season, every second counts! So, do you think it’s good to let IT problems bother you during tax season? To avoid this, you must use a cloud-hosted solution.
A third-party hosting solution gives you leeway. It is not expensive, and the repairs do not take much time. Here’s the explanation. In a third-party hosting solution, the entire IT infrastructure is deployed by your hosting provider. You can use their infrastructure to host your data and software. All you need to do is pay a monthly subscription fee. Furthermore, you are not liable for any infrastructural repair. Your hosting provider will handle everything. On your part, you must manage end-point devices being used for accessing the cloud. They have an IT team with decades of experience. Their IT infrastructure is redundant with N+1 parts availability for quick repair response. Due to these measures, some hosting providers can give you up to 99.99% SLA-backed uptime availability.
Every accounting firm uses cloud hosting in one form or another. For instance, if you use Gmail for business email needs, you’re using the cloud.
The benefits mentioned above will convince you that the cloud is for your accounting firm. Furthermore, the central data storage offered by the cloud promotes zero paper accounting which is imperative for most governments – a target for minimum paper use. You can also digitally sign the documents or file taxes online.
Want to know the benefits of cloud hosting for your accounting firm? Get in touch with our Solutions Consultant by clicking the chat button below.