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5 reasons accountants should switch to cloud services for data hosting

3rd May 2024
Brought to you by
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Wolters Kluwer provides software to tax and accounting professionals.

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Looking for an efficient and secure alternative to your current data storage method? Look no further than cloud services for your accountancy practice. Boasting easy accessibility, increased security, and scalability, the cloud will help you take your practice to new heights.

Woman on a laptop in a financial district
Getty Images

 

Ben Foulds, Sales and Marketing Director at Hosted Desktop UK (HDUK), says, “Even though cloud services are not considered new technology anymore, it’s essential to choose the right strategy and partner to make sure you are on the appropriate cloud and get the necessary support for your business.”

Still unsure why accountants should use the cloud for data hosting? Here are our top five reasons why:

 

1. Security and reliability

Cloud managed services allows accountants to access files and applications from anywhere with internet. Whether you're meeting with a client, working from home, or travelling for business, the cloud ensures that crucial financial data is always within reach.

From encryption and access controls to regular backups and audits, cloud hosting offers robust security features that surpass those of traditional on-premises solutions. Many accountants have reservations about moving from on-premise software to cloud, due to questions around security, but cloud solutions offer increased encryption and security to ensure client data remains secure and compliant.

HDUK works with Wolters Kluwer to provide a cloud storage system that keeps data on a their private, virtual, dedicated servers. These use the same industry standard SSL encryption as those used for online banking and secure payments.

2. Seamless integration

Collaboration is key in the world of accounting. Cloud managed services enable real-time collaboration among team members, clients, and other stakeholders. Multiple users can work on the same document simultaneously, eliminating the need for long email exchanges and version control issues. With features like comments, notifications, and file sharing, practices can enact greater efficiency and productivity.

3. Scalability

Traditional on-premises data storage often requires significant upfront investment in hardware, software, and infrastructure. In contrast, cloud services operate on a pay-as-you-go model, allowing firms to scale their resources based on demand.

With HDUK, Wolters Kluwer offers flexible data processing and storage with the ability to scale confidently with our IAAS security and backup.

4. Cost efficiency

Much like the scalability benefits of cloud managed services, the pay-as-you-go model and lack of up-front investment results in significant cost savings for accountancy firms. Cloud services eliminate the need for costly maintenance, upgrades, and IT infrastructure, resulting in long-term cost savings for your firm. 

5. Disaster recovery

Whether it's a hardware failure or cyberattack, accountancy practices are at risk of data loss. In such scenarios, having a robust disaster recovery plan is essential to minimize impact. Cloud services provide built-in redundancy and automated backups, allowing for quick recovery of data in the event of a disaster.

With our partner, HDUK, we offer a fail-safe backup system that gives you peace of mind that your business-critical data is protected from data loss. Service Level Agreement (SLA) provides a guaranteed minimum of 99.9% availability, with service credits available if this is not met.

 

Wolters Kluwer has an ongoing partnership with HDUK, the UK’s private cloud specialist for small and medium legal and finance businesses. They are trusted by 35% of professional services firms to deliver IT Services, with clients seeing an immediate average productivity increase of 30%.

Interested in how Wolters Kluwer uses HDUK to provide an efficient and reliable solution to accountants’ data storage needs? Learn more here.

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