The IT industry is growing at a fast pace and is helping other industries to expand too. Cloud computing is not a very new concept, but it is now that businesses are moving their traditional setups to the cloud servers. It delivers hosted services over the Internet. When a business hosts the services on the cloud, it does not need to expand the business by opening several offices at different locations. Cloud helps to access information from anywhere anytime. The cloud is a cost-effective solution that offers better data security and better access to data.
The cloud has a lot to offer to tax and accounting companies. Verito tells you 4 important reasons to move to the cloud-based bookkeeping.
- Less expenditure on IT infrastructure
You do not need to have a big in-house IT setup. When everything is hosted on the cloud, then the cost of server maintenance is reduced by a considerable amount. There is no need to hire an IT team as well for the maintenance of servers, software, and applications. Both cost and efforts are saved.
- Maintaining software becomes easy
Hiring a hosting provider eliminates the headache of downloading updates, or buying a newer version of the software. When you host the application on a cloud server then more than one individual can use the application. Plus, you do not need to spend money to update the software or an application separately. The hosting provider takes care of the hosted applications and software. Thus, the applications are always up-to-date.
- Easy to Manage Add-ons
You can get the add-ons integrated with your accounting software. Add-ons are of great help as they make tasks easier, faster, and more accurate. You can get these add-ons hosted on the cloud too. Integrating add-ons to the accounting software also ensures that you can use the same software for different tasks like creating financial reports, send invoices, raise bills, and more.
- High-security systems
Data security is the cause of concern for most of the companies in the industry. The sensitive financial data needs to be protected at all times. Loss of such important data can be a huge loss to the company. With in-house IT infrastructure, maintaining multiple backups at different sites becomes difficult. In the case of cloud computing, data is stored on the remote servers that ensure no data loss due to natural calamities or server failure. This also makes the data recovery easy. Most of the server hosting providers have security certificates to ensure that all the policies are in place.
The initial installation cost might be on a higher side, but cloud computing is a great option for a longer run. It offers many benefits to the business setups. Choose your hosting provider wisely. In a case of doubt, you can go with partial cloud hosting, where only a few of your applications are hosted on the cloud server. You can host accounting applications online like Quickbooks hosting services, Sage 500, TurboTax and more.