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-accounting-professionals-should-take-a-walk-in-the-cloud-73783-1.html

http://www.acecloudhosting.com/blog/2404_10-benefits-of-cloud-computing-for-smbs/