You’ve probably been encouraged to migrate to the Cloud, but has anyone told you why?
In the business community, conversations about Cloud migration are hard to miss these days. It seems like every other day there’s a new story about the potential that Cloud computing holds for business professionals. In fact, we get questions from our clients all the time about how great the Cloud really is and how it can be used to optimize operations.
However, the Cloud isn’t just a buzzword. It actually does offer massive benefits to modern business professionals. We’ve helped countless clients across a variety of industries successfully migrate to the Cloud to take advantage of those benefits.
However, in the Accounting industry, there is often hesitation and security concerns associated with moving to the Cloud.
While these fears are understandable – they’re unfounded. We’ve helped migrate countless financial service firms to the Cloud and it has worked wonders for their business operations while posing no increased security risk. To help ease the fears of accounting firms that are hesitant about Cloud migration, we’ve created this fool-proof guide to break down the Cloud and the leading capabilities it provides for accounting professionals.
The Basics: OK, So What is the Cloud?
For those still trying to wrap their heads around what ‘the Cloud’ is, we’re going to break it down in simple terms. For businesses, Cloud software platforms reside on the web. This means that they’re a new generation of software that is based entirely on the internet. Cloud platforms take up no physical space on business devices or servers and can be accessed from any device connected to the internet.
Furthermore, as the Cloud has developed, it has become heavily protected against unauthorized access. For accounting firms that handle sensitive financial data, this is a huge plus. From security to accessibility and everything in between, the Cloud is the perfect fit for busy finance professionals.
Here are the top 4 reasons why accounting firms should migrate to the Cloud:
- Optimal Security
When using Cloud platforms, data is always protected and stored on multiple servers. The Cloud has been developed and secured with the latest and most advanced technology to prevent unauthorized access to sensitive financial data.
Compared to the traditional server and machine-based accounting software, the Cloud offers reduced exposure to countless risks. Using traditional platforms, all data is usually stored on one machine or server. This means in the case of a crash, all data can be destroyed and accounting firms are left with nothing. Additionally, the constant transfer of information via USB is also risky and traditional backups can be tedious and expensive – especially if you have to backup every time new data is entered.
In the Cloud, not only are security controls tighter, backup processes are also more optimal. As mentioned, data is stored in more than one location to prevent total loss in the case of disaster. Additionally, backups occur automatically and off-premise which reduces the time and cost constraints.
Simply put, Cloud software providers are held to the strictest security standards. Cloud platforms deploy multilayered anti-virus programs to prevent a breach and can even be protected by the most sophisticated security measures including biometrics like fingerprint and retina scans.
Additionally, Cloud providers rely on the latest, most cutting-edge encryption controls to make it virtually impossible for hackers to extract financial details from Cloud-based platforms. This kind of security strategy makes it easy for small firms to reap the same security benefits as massive, Fortune 500 financial organizations.
- Real-Time Live Data
Another huge benefit of the Cloud for accountants is that financial information is continuously and automatically updated. This makes it easier than ever for users to make informed decisions based on the most recently available data.
Compared to traditional, on-premise accounting software, this real-time data capability truly sets the Cloud apart. While traditional models would require tedious, manual data input, the Cloud offers huge automation potential as soon as data is transferred from a local PC to the web.
- Increased Accessibility
Accountants are busy professionals who rely on getting business done outside the regular 9-5 confines of office life. That’s why one of the biggest perks of using Cloud platforms is the ability to access critical data from anywhere at any time. As long as a user has access to an internet connected device, they can log in to view and manage data.
Traditional platforms simply don’t offer this versatility of access. There’s nothing worse than needing access to a file outside of working hours and not being able to get your hands on it without trekking to the office or contacting a superior. This results in redundancies and delays which are not only costly and time-consuming, but risky as well.
The Cloud remedies these concerns by offering users the ability to log in and gain secure access to files whenever they need them. This is especially helpful during the busy tax season when accounting professionals are clocking longer days than usual.
- No Maintenance Requirements
The last great thing about migrating to the Cloud is the fact that it offers a huge decrease in maintenance responsibilities. Using the Cloud, finance professionals can focus on critical accounting business instead of tedious technology maintenance. Concerns about software glitches and updates are no more – any problems or updates are taken care of completely by Cloud providers.
This means accounting professionals can focus on the business at hand. All users are required to do is send a report regarding any critical issues and the Cloud server team will handle the rest. This reduces time lost to software malfunctions, errors, and other technology hiccups that would have had to be handled by internal staff. The Cloud allows accountants to focus on what they do best and leave the technical difficulties to the professionals.
Convinced? Here Are Some Things to Keep in Mind when Preparing for Migration
Hopefully, we’ve made it clear that the Cloud really is a secure and optimized environment for any industry – especially the accounting industry. However, it’s important to undertake Cloud migration carefully and thoughtfully to avoid any mishaps.
First and foremost, be sure to verify the reliability of the provider you choose to manage your Cloud services. There are countless strategic and reliable providers, however going with one of the big, well-established providers is the safest bet. Furthermore, these large-scale, long-tenured software providers tend to have more customization options and have had time to work out bugs and optimize their Cloud environment.
Additionally, it’s important to select a Cloud interface that is user-friendly and easy to navigate. You want your team to be able to transition smoothly and quickly get comfortable with the new software. Most reliable providers have platforms that come with built-in, user-friendly dashboards which makes mastering the new platform a breeze.
Finally, once you’re ready to migrate, it’s a great idea to reach out to a local technology firm for Cloud consultation. Even if you’ve already picked a provider and are ready to implement, sometimes checking in with a team of professionals can make a huge difference. IT experts can help you feel confident that you’re making an informed and strategic migration.
Is your accounting firm considering a move to the Cloud?
Are concerns about security or functionality keeping you stuck on a server? Reach out to the team of IT and Cloud professionals at Krantz Secure Technologies. Our team of experts has been helping accounting firms optimize technology since 1980.
We’ve watched technology evolve for over thirty-five years. We know how to help finance professionals make strategic and informed decisions that help optimize operations by harnessing the power of modern technology. Reach out to our team of professionals any time at (212) 286-0325.