Cloud computing has been around for longer than many people might think, but the technology necessary to make it work smoothly and efficiently has only really come to fruition over the last few years.
These last few years have seen a number of businesses adopt the technology for its many clear advantages to traditional computing, particularly with the advent of broadband and its now near universal spread.
In fact, cloud computing has become so commonplace that it’s probably not appropriate to call it a phenomenon any longer.
But what can it offer to the world of accounting, and why have firms been so keen to make the change?
Data security
Primarily, the main reason for this is improved data security - many accountants find that storing records, databases and information on the cloud is significantly more secure than storing locally on-site.
With data backed up at regular intervals – daily at a minimum – the potential for loss of data is drastically reduced compared with individual private servers. Would you be able to properly maintain and service your personal data storage systems? It is probably wise to leave it to the professionals.
Similarly, Secure Socket Layer encryption affords the user the peace of mind that their data is located in a virtually impenetrable archive. Not to mention the reduced storage costs through housing the physical data itself – all data servers are stored remotely.
Ease of Introduction
Another benefit of online accounting software is the ease with which clients can be introduced to the system.
With cloud accounting being a relatively new idea, both client and accountant invariably start with a clean state, ensuring that both parties are ‘on the same page’ as it were.
Similarly, many clients are keen to try the latest must-have technology, which again makes online accounting the perfect solution for many businesses.
Simpler Process!
Of course, having all of your data on one easy-to-access website makes the world of difference to many businesses. With access possible from anywhere on any device, savings in terms of both time and unnecessary stress are sure to follow.
This article was written by Liquid Accounts, a leading online accountancy software provider for UK-based SMEs, Accountancy and Bookkeeping practices
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