5 Reasons Why Accountants Should Use Cloud Computing
We use “cloud” in our personal lives on a daily basis - even if we don’t know it.
For tax and accounting professionals, cloud can mean securely storing and accessing accounting data and software online.
According to Network Management Group Inc. and Insight Research Group survey done in 2014 -
41% of professional accounting firms were not currently using any cloud services
31.7% Saying that they are likely to implement a cloud accounting services over the next two years.
But can cloud technology really help accountants meet client’s expectations?
Here’s why -
1. Flexibility, Convenience and Efficiency
Cloud Technology helps you access your accounting data anywhere, anytime which thereby helps you better collaborate with your colleagues working in multiple locations.
You can extend data access to your client, allowing them to view their business progress any time.
All this helps to boost your firm’s productivity and efficiency.
2. Cost and Time Savings
Traditional business model requires a large upfront cost in creating and maintaining IT infrastructure and employees to manage this.
Cloud services reduce the cost and time associated with infrastructure and need for in-house IT staff. Just pay- as-you-go.
Also, Cloud service provider handles server and software maintenance itself.
3. Safety and Reliability
Every accountant is concerned about the client’s data.
It’s important to choose cloud vendor with at least 3 to 5 years of experience in the cloud and have some security certifications such as SSAE16 and SOC2 Audit.
Overall, cloud technology offers great security and data availability in case of disaster or emergency. Cloud service provider takes multiple and continuous backup of data for such scenario.
4. Consumer Expectations
The widespread use of cloud computing in consumer space is driving its transition in fields like accounting and tax.
It’s crucial for accountants to embrace and implement cloud technology in their business model to meet consumer demand, firm’s productivity and competitiveness.
5. Better Business Decisions
Traditional business methods require you to do accounting manually, hence your accounting data is lagging behind reality.
Cloud makes accounting in real time and up-to date.
Thus you are able to take better business decision anytime, anywhere faster than ever.
There is so much in the cloud. Why not fly?
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References: http://www.accountingtoday.com/news/technology-products/why-tax-and-accountingprofessionals-should-take-a-walk-in-the-cloud-73783-1.html http://www.acecloudhosting.com/blog/2404_10-benefits-of-cloud-computing-for-smbs/