The accounting and financial services industry is changing like never before. Gone are the days of desktop computers and in-office client meetings as the cloud and the need for more flexibility grows. Many (if not most!) accounting and financial services businesses still find themselves tied to their desks. But, it really doesn’t need to be that way. More importantly, it can’t continue to be that way – especially now as we deal with the sudden coronavirus pandemic. Most, if not all, tasks are now being completed remotely as employees work from home; and more states and countries will begin to implement stay-in-place practices until this situation is under control.
Right now, as a member of an accounting firm or financial services department, you should be looking at hosted single or multi-cloud solutions as a way to navigate this new normal as you run your business away from a traditional office.
Accounting in the Cloud: New Challenges and New Opportunities
For accounting and other financial services professionals, cloud computing presents both new challenges and unprecedented opportunities to redefine the scope of services and forge new and expanded relationships with clients. Working with a qualified cloud services provider, finance professionals will find the solutions they need to securely and efficiently manage data from multiple clients.
Cloud computing, or taking a company’s IT resources “to the cloud” has revolutionized the management of data and information for businesses large and small in virtually all industries. Cloud services make data storage and a long list of other essential functions not only more accessible, but also more economical and scalable.
But while the cloud revolution offers new ways for companies to expand their reach and build their brands, it may also be helping to drive changes in the way businesses define themselves and the services they offer. And for those in accountancy and related financial services, those changes may create new opportunities for growth and customer engagement.
How Will Cloud Hosting Help Me?
Secure cloud hosting isn’t only helpful for improving remote accessibility of your crucial data or giving you the flexibility for you and your employees to work from home (or anywhere, really, as long as you have an internet connection). Hosted solutions also enable you to offer your customers a better service. Convenience and access are what customers are looking for from the businesses they frequent.
- Share client data with employees across a secure network.
- Decreased hardware and IT expenses.
- Safe, off-premise, remote access to your software and data so you can solve problems and tackle projects in real-time.
- Create better analytical reports.
- Easier messaging between you, clients and employees; these messages can be recorded, filed and encrypted directly under a client’s file.
- Better data security and disaster recovery options.
- Receive up-to-date information on changes to tax laws and trends that you can use to improve financial planning needs and the overall tax time experience.
- Regular data back-ups.
- And more!
Private Cloud Hosting Solutions
Cloud technology is new territory for many accounting and financial services firms. But, customers are already there. The best part of this new normal is the fact that accessing online software actually ends up saving your business money. You’re not setting aside a large budget to buy and update software. You don’t even need to hire an IT team to set up and maintain the system for you. Instead, you pay a low monthly fee to a trusted hosting provider, like Summit Hosting, who will handle all hardware expenses, IT, troubleshooting and updates for you.
Have any questions about cloud hosting? Or are you ready to move your business to the cloud? Contact one of our expert hosted business solutions specialists – we’re happy to help and can get you set-up within 48 hours.