Cloud Computing for Accountants
As an Accountant, you understand that the digital future is gathering pace and as a trusted business advisor to your clients, you have always had to be versatile and tolerant of new ways of doing business.
The internet is changing the business landscape and for many, working in the cloud and cloud for accountants has been acknowledged as the way forward.
So what is the cloud?
The 'cloud' refers to the internet, and working 'in the cloud' describes the way you store and access your data through an internet connection. Cloud computing is allowing accountants, of all sizes, to access their information online, which creates a flexible way of accessing data especially when visiting a client. The types of data that are accessible includes all your accounting software applications, emails and files.
Benefits for Accountants
Moving to cloud computing can afford accountants many benefits. It can allow you to set up a virtual office to give you the flexibility and agility of connecting you to your business and clients from anywhere, at any time.
Given the amount of internet-enabled devices used in today's business environment, access to your data is now easier than ever. So given this, let’s give a breakdown how cloud for accountants can reap many rewards.
- Data Backups
Protecting and backing up both yours and your clients data is a vital part of your business. Whether your practice experiences a natural disaster or other crisis, having your data stored in the cloud ensures it is always backed up and protected in a secure and safe location. Being able to access your data again quickly allows you to conduct business as usual and thus minimises any downtime and any potential loss of productivity.
- Remote Access
Data is everything in accountancy – where it is and who can see it. Because your information is not stored in a single location any longer, it can be located from anywhere with any device, once it has an internet connection. Having an organised and secure cloud computing system, both your information and your client’s can be kept in one secure place, with your staff able to access whatever information they are permitted to.
Traditionally, accountants tend to opt for in-house email servers, which can be complicated and have associated high costs. Cloud-based business class email services such as Microsoft Hosted Exchange provide email services to large and small practices at a fraction of the cost of those in-house systems.
- File storage
Files, information and data are all stored online in ‘cloud storage’. This means there is no expensive computer equipment required, no IT professionals needed to maintain equipment and it’s a safer form of storage. The amount businesses can store depends on the amount paid to the server, with different kinds available.
- Cut Costs
One of the main benefits of cloud computing is the amount of costs it cuts. For example, there is no longer a need for expensive computer equipment and servers to be installed in your practice. This cuts hardware, software and energy costs and also saves on office space. There are also reductions in back-up systems and automatic updates to software are taken care of.
- Support
Any of your support needs, service issues or queries are handled by the cloud service provider. Updates in software and hardware are done automatically by the service provider, meaning your technology is always up-to-date and at a reduced implementation cost.
What does it all mean?
Advances in cloud computing can allow accountants to improve their service while cutting costs, without necessarily having to reduce their fees. This means that accountants can now be less about book-keeping and more about financial advice and consultation than ever before – real management accounting.
Better management accounting means greater insight into real-time information which in turn allows for more informed decisions by business owners.
The cloud takes the stress out of computing - it offers you peace of mind.
For more information, visit www.cloudstrong.ie