Last updated on July 18th, 2022
Whether it was the development of the abacus in the past or QuickBooks Desktop in the modern era — they have brought betterment in the accounting industry. This development has allowed them to become more productive with better business growth.
But how do you take this a step further?
By hosting your QuickBooks on the cloud through a reputed Cloud Service Provider (CSP).
QuickBooks hosting added another dimension to the accounting profession. It empowers your organization to remotely access your QuickBooks, which could only be accessed through local setup earlier.
This, in turn, helps them bypass several limitations like inadequate data security, high IT liability, and more. In turn, it embraces modern accounting features like access on the go, enhanced security, and assured data availability.
So, without further delay, let’s have a look at four ways by which QB hosting completely transforms the accounting profession:
1. Accounting on the go
The local installation of QuickBooks carries several restrictions for CPAs and accounting firms. The access to the accounting solution becomes device-specific; you must have access to that particular device. While some may think that this problem can be easily solved by switching to portable devices like laptops. But, what if your computer gets stolen?
QuickBooks hosting brings in the much-needed transition from this device-bound access. Through a valid authorization and good internet connectivity, QuickBooks on the cloud can be remotely accessed from anywhere, via any device, and enjoy at least 99.999% SLA-backed uptime with the right CSP. While this essentially frees you from the traditional hardware dependency, it also makes your workplace mobile. Your employees can efficiently work while commuting to the office or from their homes. This way, you can still continue your business operations, even if the physical access to your office is hampered.
2. Quality data security
Working at an accounting firm means handling confidential data like SSNs, account details, personal credentials, etc. However, modern hackers have devised multiple ways like phishing attacks, ransomware attacks, and polymorphic code insertion for compromising your data integrity. What’s more troublesome are the local desktop setups that most organizations still deploy. They are greatly vulnerable to modern cyber-threats and lack the latest anti-hacking tools, which ultimately allows hackers to jeopardize the safety of your database and client data.
Unlike a traditional desktop environment, which has only conventional measures like firewalls, anti-malware, and antivirus, QuickBooks hosting offers additional security features with premium security solutions. These include AI monitoring systems, the latest IDPS software, multi-factor authentication, and more. It has much better physical security than a local desktop setup, as most reputed CSPs even deploy armed guards for data center surveillance with constant CCTV coverage. Also, any activity within the hosted solution leaves a digital footprint that can be then easily traced back, if necessary.
3. Disaster recovery
Data as of today is often regarded as digital gold. The example of Walmart in 2004 can highlight its importance. They used data analytics and predictive technologies to stock up their inventories, a move that brought them huge profits.
Accountants, too, employ data analysis for various purposes. It allows them to estimate a business’s financial health accurately, gain valuable operational insights, and help their customers make better financial decisions.
However, most accounting firms still rely on traditional data storage methods that are inadequate and prone to risk. This way, an accident as simple as a water spill can easily damage their local devices and result in permanent loss of data.
However, during QuickBooks hosting, your CSP empowers you to protect your data with their credible disaster recovery plans safely. The data maintained in a hosting solution is stored at several data servers (with regular backups), which in turn are deployed at geographically strategic locations. So, even if natural calamities like earthquakes or hurricanes occur, your data is safely backed up by them and can be easily accessed.
Accounting firms need to manage various operational expenditures like office maintenance, IT costs, employee payrolls, and much more. However, maintaining and running a conventional accounting environment with a local desktop setup further adds to their woes. Out of these, IT costs incur a significant cost (replacement/repairs, license renewal, hardware purchase, etc.).
Moving your Quickbooks to the cloud empowers you to mitigate such expenses without compromising on the quality. As everything is on the cloud in a hosted environment, you do not need to set up an in-house IT infrastructure. This also eliminates the need to hire a dedicated IT team, reducing the load on your payroll.
Additionally, the cloud hosting provider takes care of the cloud infrastructure, and you do not need to pay extra for it. Also, since you can remotely access the hosted solution, you can allow your staff to work remotely and avoid spending considerably on maintaining office space.
In these modern times, accountants need something to boost their services. QuickBooks hosting does exactly that with its unique offerings. It also gives accountants an edge over the competitors in this challenging market.
Want to try our QuickBooks hosting services for FREE? Get in touch with our Solutions Consultant at 855-321-6576.
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