Steps Accounting Firms Can Take To Move To Cloud Computing

Steps Accounting Firms Can Take To Move To Cloud Computing

Cloud computing is changing how accountants do their business. It is a rather simple and uncomplicated model of how technology continues to find solutions in improving business functions. Cloud computing providers have already provided a lot of services to cater to the needs of accounting firms and accountants. Most of these services deal with internal accounting firm applications and solutions where accountants can work with their clients.

When an accounting firm decides to take advantage of cloud computing, it is highly significant to consider the internet connectivity because the internet plays a vital role in cloud computing systems. Once you avail of cloud computing, you also have to move to a higher bandwidth internet subscription. As much as possible, you have to buy the internet service offering the best bandwidth availability you can afford. As your accounting firm grows, your bandwidth needs will also grow. Also, you may have to inform your internet service provider about the significant rise in bandwidth usage during the usual accounting busy season.

You don’t need to be locked with bandwidth contracts for a long time because technology is continuously evolving which drives internet service providers to offer more services at a lower price. You may also consider blocking some media sites which stream huge amounts of information to end users. Instead of blocking these sites, some companies initiate internet acceptable use policies which determine acceptable and unacceptable utilization of your company’s bandwidth. However, for better management of bandwidth, you can implement both. You can have an internet acceptable use policy and, at the same time, block sites which stream a lot of data.

When an accounting firm first migrates to the cloud, it is expected that it has no knowledge about which applications to migrate first. Although a lot of accounting applications can be migrated to the clouds, the best and easiest application to migrate is the applications for tax preparations. Tax applications on the clouds offer accountants flexibility because tax returns can be generated anywhere and anytime. This move will greatly benefit those accounting firms who want to improve their employees’ work-life balance. This also benefits the younger generation of employees who desire to work differently than the previous generations ahead of them. More importantly, updates to the tax software become the responsibility of the cloud computing provider.

The next phase of migration must move document or content management of the accounting firm. Document management becomes a breeze with cloud computing. An accounting firm employee will just need keywords or phrases to be able to search voluminous data hosted in the clouds. Recovery of information is faster with cloud computing than physically going through file cabinets for the needed information. Data is also protected and secured from unauthorized access by other employees.

Aside from tax and content, the accounting firm can then migrate other practice areas like CPE and Education Tracking; Employee Evaluation; Electronic Workflow; and Practice Management. Aside from migrating applications specific to the accounting profession, the accounting firm can also move other solutions common with other industries like e-mail. Applications used to collaborate with clients can also be migrated to the clouds. There are applications available which lets an accounting firm bill a client and provides a way for that client to pay online. Most of these applications can even be integrated to the current accounting system being used by the accounting firm.

Moving your applications and data to the clouds may not necessarily decrease overall spending. Although the clouds provide reduced spending on on-premise infrastructure, an accounting firm may need to spend more money on internet service, space allocation subscriptions, and storage. In essence, cloud computing does offer a lot of benefits to accounting firms. However, extreme caution must be exercised in choosing the right cloud computing vendor in order enjoy all benefits the clouds can offer.

Florence de Borja

NEWS

New IDC Spending Guide Forecasts Nearly $120 Billion in Worldwide Spending on Security Products and Services in 2021

New IDC Spending Guide Forecasts Nearly $120 Billion in Worldwide Spending on Security Products and Services in 2021

FRAMINGHAM, Mass., October 19, 2017 – Worldwide spending on security-related hardware, software, and services is forecast to reach $119.9 billion in ...
Cisco Unveils Industry's First Predictive Services Powered by AI

Cisco Unveils Industry’s First Predictive Services Powered by AI

New offerings designed to manage growing technical skills gap through unique expertise, intelligence and automation SAN JOSE, CA--(Marketwired - Oct ...
Treacherous 12: Top Threats to Cloud Computing + Industry Insights

Treacherous 12: Top Threats to Cloud Computing + Industry Insights

Top Threats to Cloud Computing SEATTLE, Oct. 20, 2017 /PRNewswire/ -- The Cloud Security Alliance (CSA), the world's leading organization dedicated to defining ...

CONTRIBUTORS

15 Cloud Data Performance Monitoring Companies

15 Cloud Data Performance Monitoring Companies

Cloud Data Performance Monitoring Companies (Updated: Originally Published Feb 9th, 2015) We have decided to put together a small list ...
5% Of Companies Have Embraced The Digital Innovation Fostered By Cloud Computing

5% Of Companies Have Embraced The Digital Innovation Fostered By Cloud Computing

Embracing The Cloud We love the stories of big complacent industry leaders having their positions sledge hammered by nimble cloud-based ...
The Cloudification of Healthcare: Benefits and Risks

The Cloudification of Healthcare: Benefits and Risks

Cloud Healthcare: Benefits and Risks Many organizations are moving most of their business-critical applications and workloads to the cloud. The ...
Benefits of Licensing Software as a Service In The Cloud

Benefits of Licensing Software as a Service In The Cloud

Software as a Service In The Cloud When Microsoft moved to a monthly cloud-based subscription package for its Windows 10 ...
IoT Trends

The Internet of Attacks: Disturbing Online IoT Trends

Disturbing Online IoT Trends If you thought the worst thing to come out of the Internet of Things (IoT) trend ...
The Paradigm Shift In Enterprise IT Operations Management

The Paradigm Shift In Enterprise IT Operations Management

IT Operations Management Rapid change is the new constant with today’s Enterprises. There is a continuous shift in the technology ...
Having Your Cybersecurity And Eating It Too

Having Your Cybersecurity And Eating It Too

The Catch 22 The very same year Marc Andreessen famously said that software was eating the world, the Chief Information ...
Are You Doing Enough To Protect Your Business From Ransomware? Probably Not

Are You Doing Enough To Protect Your Business From Ransomware? Probably Not

Protect Your Business From Ransomware Ransomware is more advanced than ever. If you aren’t updating your security with that in ...

SPONSORS

The Skill & Training Mandates of Big Data

The Skill & Training Mandates of Big Data

Big Data Mandates For some years a dearth of data scientists and analysts has caused concern, with McKinsey expecting a ...
Scale your Windows Azure application

Help Your Business Improve Security By Choosing The Right Cloud Provider

Choosing The Right Cloud Provider Security issues have always been a key aspect of business planning; failure to properly protect ...
Hybrid IT Matures Just In Time To Tackle Complex Challenges

Hybrid IT Matures Just In Time To Tackle Complex Challenges

Tackling Complex IT Challenges Today’s sophisticated business environment demands a dynamic and robust IT infrastructure which is a far cry ...

GET READY FOR CLOUD MICROSERVICES

So, is microservices the answer? What are the pitfalls? Is this the path you really want to lead your company down?

On November 8 at 2:30 p.m. ET, join hosts JP Morgenthal, Steve Prentice and Kalyan Ramanathan for a vibrant and interactive online discussion specifically about the pitfalls of microservices, including management, sprawl, and decomposition – and how to avoid them.

JP