5 Reasons Why Accountants Should Use Cloud Computing
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Transcript of 5 Reasons Why Accountants Should Use Cloud Computing
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.
Cloud Technology helps you access your accounting data
anywhere, anytime which thereby helps you better
collaborate with your colleagues working in multiple
locations.
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.
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.
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.
Traditional business methods require you to do
accounting manually, hence your accounting data is
lagging behind reality.
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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/