QuickBooks Desktop has dramatically improved the accounting sector. Riding at the back of robust features, it has dominated the accounting industry for decades and made CPAs more productive and efficient.
However, modern-day CPAs and accountants prefer modern solutions to tackle the latest challenges as QuickBooks on a traditional system has limitations like no remote access, traditional data security, and more.
So, how do you improve the capabilities of QuickBooks Desktop? The answer is by hosting it on the cloud with the help of a reputed service provider. Hosting QB on a cloud server significantly boosts its capabilities. It can be remotely available, offers better security, has a promising data recovery process, and is more cost-effective.
This is the reason why the new generation CPAs prefer migrating to the cloud. Let’s look at how QB on the cloud revolutionizes it for the new generation of CPAs and accountants.
1. Enhanced Accessibility
There were times when CPA firms used to operate from office spaces solely. But now, COVID-19 has forced a gradual transition from a traditional approach to a modern outlook. Today’s CPA firms operate in a more flexible workplace, have improved accessibility, and are available round-the-clock. And, this is possible with the help of QuickBooks hosting.
Since hosted QB involves installing the QB on remote servers that can be effortlessly accessed via the Internet, it allows you to access your data from anywhere, anytime from the device of your choice. It has also permitted CPAs to transcend the conventional limitations and enjoy the new revolutionized workspace. They can efficiently work on the go, handle their clients even if they are stuck in traffic, or manage sudden emergencies while on vacation.
2. Assured Data Safety
Nowadays, cyber-attacks have become increasingly common. Even the IoT devices are not spared, as the number of attacks on them tripled in 2019 alone. It has raised severe global cyber issues with financial organizations stuck in a dilemma on effectively safeguarding their crucial data, mainly accounting firms. Just like the advent of accounting software revolutionized their working environment, another technological innovation has again answered the call to protect QB data.
Hosting QuickBooks on the cloud has empowered CPAs to strengthen their security framework significantly and be better prepared against hacking activities. Service providers follow multiple compliance adherences like PCI-DSS, ISO, etc. They regulate the cloud environment as per these guidelines, which in turn further ensures quality security. They also have other measures like administrative access control, the latest IDPS system, antivirus protection, and an IT team for constant surveillance that further boosts the security.
3. Disaster Recovery
In these modern times, it is essential to always have a contingency plan in case of emergencies. However, most businesses often take data integrity for granted and don’t implement the necessary measures to protect it. The traditional methods are prone to environmental or human damage. Hence, whenever natural calamities like hurricanes, fire, or any human-made activity strike their database, it can potentially lead to permanent data loss.
Hosting their QuickBooks on the cloud has innovated the way businesses used to store their data and provided them with a credible data recovery option. Data hosted on the cloud is stored at multiple remote locations. These locations are further strategically placed at different geographical locations to minimize the damage by environmental factors. Also, your data is continuously backed up and can be easily retrieved whenever you want.
4. Greater IT Freedom
Traditionally setting up the QB desktop has several limitations which can restrict your IT freedom. Firstly, any changes made to the infrastructure are concrete unless upgraded again. Secondly, the needs of firms are seasonal, with the peak seasons requiring more IT resources. While investing during such times may seem like a wise move, what about the off seasons when they will be left unused? Also, scaling cannot be done instantly and requires considerable planning beforehand. This ties down your IT infrastructure and limits its scalability.
By hosting your QuickBooks on the cloud, new generation CPAs can quickly scale up/down their IT infrastructure without worrying about the wastage of their finances. All you need is to make a call to your service provider, and it can be done in a matter of a few hours, rather than waiting for days or even months, as with the conventional QB desktop setup. Also, since the service provider bears the complete brunt of the IT infrastructure, you don’t need to worry about its maintenance. You can focus on your accounting operations while their professional team takes care of your IT infrastructure.
5. Economically Viable
While implementing technological measures makes things economical for your organization, it is equally important to keep upgrading it to maintain its cost-effectiveness. The old QB desktops are now not as economically viable as they used to be. You need to significantly invest in setting up your IT infrastructure and hire professionals for its management. Also, as it cannot be remotely accessed, you need to maintain an office space too.
Moving to the cloud empowers new generation CPAs to take their organizational cost-efficiency to the next level. Utilizing the cloud has its share of cost-saving measures. Firstly, you don’t need to invest much in the IT infrastructure – everything is taken care of by your service provider. As data can be remotely accessed, you can implement WFH within your firm and minimize your office-related expenditure. And if you are finally worried about the hosting costs, don’t sweat! All you need to pay is an easy monthly subscription fee.
QuickBooks hosting is a modern way to serve the current needs of new generation CPAs. It offers unique benefits such as cost-effectiveness, freedom from IT hassles, enhanced data security, disaster recovery, and the like.
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