Cloud computing in accounting features:

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?

Yes Here’s why

1. FLEXIBILITY, CONVENIENCE AND EFFICIENCY

Cloud technology helps you access your accounting data any-where, anytime which thereby helps you better collaborate with your colleagues working in multiple locations.

2. COST AND TIME SAVINGS

Cloud services reduce the cost and time associated with infrastructure and need for in-house IT staff. Just pay-as-you-go.

3. SAFETY AND RELIABILITY

Overall, cloud technology offers great security and data availability in case of disaster or in an emergency. Cloud service provider takes multiple and continuous backup of data for such scenario.

4. CONSUMER EXPECTATIONS

It’s crucial for accountants to embrace and implement cloud technology in their business model to meet consumer demand, firm’s productivity and competitiveness.