Last updated on January 10th, 2023
One of the leading tax software programs, Drake enables CPAs, individual tax preparers, and business owners to simplify tax operations efficiently. Features like Drake Tax Planner, Drake Scheduler, etc., play a pivotal role in enhancing taxation capabilities to the next level. However, some drawbacks of the software’s desktop version restrict you from attaining some crucial objectives. These include timely filing of returns, IT support during non-business hours, data security, etc. This is where the Cloud Drake solution comes in handy.
With built-in security and privacy protections, an automated backup system, integration capabilities, etc., cloud-hosted Drake software enables businesses to unleash the software’s full potential.
Read on to explore the top five benefits of cloud-hosted Drake tax software that enhance its capabilities and allows you to simplify everyday workplace tasks.
1. Round-The-Clock Global Access
Being available to assist clients at all times is crucial for businesses. If your client needs tax consultation during non-business hours, you must be able to do it, failing, which may lead to loss of your reputation. Furthermore, such repetitive instances could restrict attracting new clients to your business. Yes, locally installed Drake tax software requires you to depend on a specific hardware device. Inability to access the device would leave you unable to assist your client.
However, with cloud-hosted Drake tax software, you can access your data regardless of location. You can use smart devices like smartphones, laptops, iPad, or a tablet to access the hosted Drake software anytime. Such a feature is helpful, especially during peak tax season. The cloud-hosted Drake solution eliminates the need to be physically present in the office. Instead, you can use your preferred devices to complete the task from the comfort of your home or while on the move.
2. Security of Data
CPAs and tax professionals handle a massive pile of sensitive financial data of their clients. If this data falls into the wrong hands, the outcome can drastically impact the financial integrity of a client. If your preferences are to safeguard your clients’ data, you must have a robust data security strategy.
To ensure the aforesaid, Drake tax software on the cloud is the ideal solution. Hosting the tax software on the cloud by partnering with a reputed cloud hosting provider promises the following:
- TLS 1.3-based Data Encryption System
- Multi-factor Authentication
- Intrusion Detection System and Intrusion Prevention System
- Multi-layered Firewall System
In addition to the above, a reputed hosting provider has SSAE-16 certified Tier 3+ class data centers, ensuring your data’s high security. Moreover, cloud-hosted Drake software has centralized system management, which, once deployed, protects your entire network.
Such high-end security protocols of hosted Drake tax software eliminate the risk of losing data. Even if there’s a breach, you can contact your hosting provider and get instant help with the data retrieval process.
3. Disaster Recovery
Natural disasters and their consequences could be fatal for any business. Floods, earthquakes, and fires can significantly damage various companies, including the tax and accounting sectors. If you use on-premise Drake software, then recovering data in such cases becomes challenging. As a result, you will experience a loss of clients, business reputation, and revenue to a significant extent.
To mitigate such circumstances, you can use Cloud Drake hosting services from a reputable hosting provider. They ensure data replication in redundant servers across various geographical locations. In a natural disaster, if any server crashes, you can still retrieve data from the other quickly.
Traditional implementation of Drake in your workflow requires a dedicated in-house server setup for data storage and running the application. Besides, you need a complete IT infrastructure to maintain the upkeep of the software. These include hardware resources and IT professionals where you must invest significant money. It means you must invest a considerable chunk of your budget in establishing the server. Additionally, you must bear the ongoing overhead expenses to maintain the server.
Isn’t it a hurdle to ensuring cost-effective business continuity? Indeed, it is!
To eliminate such bottlenecks, you can host Drake on the cloud. Cloud hosting providers take care of server setup, security, and maintenance. If you encounter any issues with the hosted application, you can seek instant help from your service provider. Most cloud hosting providers are equipped with certified professionals who provide round-the-clock IT support to their clients. You can reach them via various means such as phone, chat, email, etc.
5. Multi-User Capabilities
Collaboration amongst team members is imperative for any business. When it comes to tax preparers, they require error-free tax calculations which include detailed financial data in a well-organized manner. As a tax preparer, you must be able to collaborate with team members to ensure correct tax returns.
But, what if some of your team members couldn’t be physically present in the office?
In such cases, they can work from anywhere using the cloud-hosted Drake software and collaborate effectively, without delays. All the team members can work on a single file simultaneously and make real-time changes if required. It helps every team member to remain up-to-date with the latest changes to a file and ensure productivity simultaneously.
In addition to easy collaboration, cloud-hosted Drake allows you to add multiple users to access the software. It means adding more users to your Drake account to work together and prepare taxes quickly – a boon during tax seasons.
The listed benefits of Drake software hosting must have helped you realize its importance. If you are a tax preparer and want your taxation capabilities to move to the next level, cloud Drake hosting is an ideal choice. Apart from the many benefits discussed here, the solution adds value to your business in other ways. These include high server uptime, superior software performance, automated backups, scalability, and more.
Discover how ACE Cloud Hosting can help host all your team members on the same cloud platform with their Drake Tax Software hosting service.
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