When it comes to accounting software, many organizations use a combination of cloud-based and on-premises software. However, cloud-based products are a lot easier to use: you get the benefits of on-premises cost savings, better integration with other systems and an ability to scale the application to meet your needs without buying the software or necessary hardware.
Whether you are a small business owner, a freelancer, a physician or a lawyer, you need an accounting solution that will allow you to manage your books and finances effectively.
We fully understand how the technology choices might have a huge impact on your company’s current and future status. Therefore, we created this article to help you better understand the concept and help you choose the best hosted desktop services in Chicagoland.
A brief introduction to cloud-based accounting software
There are three main categories of accounting software: small business accounting software, enterprise accounting software, and cloud-based accounting software. Cloud services for accounting firms have been at the top of the technological trend for a while now, and it looks like they’re set to stay there. Both cloud and conventional accounting software bring their benefits to the table. However, it’s better to have a comprehensive understanding of both options when looking for an upgrade. Cloud makes up an excellent option for companies that need to accommodate a smaller budget due to its reduced costs than most other traditional software. Through employing cloud solutions, accounting firms that may work remotely may also get a plus in regards to digital security, an issue that is extremely important when managing sensitive customer data. The plus of accessibility of the cloud-based accounting software should also be mentioned when comparing the two. The firms with employees that work remotely can truly benefit from the level of accessibility this type of solution provides. On the other side, businesses that require close control over their accounting data cannot allow it to be accessed from places without an adequately secured wireless network or direct monitoring. For these companies, traditional accounting software will usually represent the best solution. Firms that manage very sensitive financial customer data, such as banks and other financial institutions, are required to be in complete control at all times; therefore, it’s obvious why they won’t allow data access to any third party.
Hosted Desktops vs Web-Based Apps
Let’s start by getting a better understanding of what both these terms mean. For more exciting articles regarding the digitalization of the accounting and finance industry, check the rest of our blog. Whether you’re interested in knowing what to look for when trying to choose the best hosted desktop services in Chicagoland or want to take a more in-depth look at other technical matters, we’re here to answer your questions.
What are hosted desktop solutions?
A hosted desktop solution is a setup in which you and your employees use on-site devices to access the company files within a virtual cloud computing environment through the internet browser. You can perform all your tasks from your computer, tablet or even smartphone. All computing is being carried on a “virtual computer” housed on a server in a data center.
What is a web application?
A web application is a software hosted in the cloud ( in most cases by the software provider). The app can be accessed and used by your staff through their on-site computer or mobile device. You can read more about the traits and benefits of cloud services for accounting firms in this article.
Are you thinking about moving to the cloud? AlavancaSystems provides top-notch cloud hosted desktop services in Chicagoland for accounting and finance firms.
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How do I choose the right cloud accounting solutions?
When looking to choose the right cloud solution for your accounting firm, you have to consider all your company requirements. This will include the number of users you have, the number of contacts you can add, and your budget. As your company expands, you can always upgrade to a higher tier to have access to those extra bells and whistles that were once a nice-to-have but are now critical to your operations. While trying to choose the right accounting software for your firm make sure you ask yourself the right questions, such as:
- How much time will it take for your employees to learn the software?
- How many users can it support at the same time?
- Is it easy to upgrade in case you need to scale up?
- Which software suite is the best?
- Do we host it on in-house servers or host the application in the “cloud” (an offsite data centre).
- Do we use a public data center, a private data center, or a hybrid approach?
- How do we access and use that software?
- How can we provide mobile and work-from-home users?
- How do we ensure security and FINRA, FTC, IFRS 15 / ASC 606, and GDPR compliance?
There are many more factors you need to take into consideration when choosing the right digital solution for your accounting firm. It’s vital that you take your time to consider them before making a decision.
Be productive anytime, anywhere—scale up and benefit from top-notch cloud hosted desktops services in Chicagoland.
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What are the benefits of cloud services for accounting companies?
There are many things to be listed when it comes to the benefits of cloud accounting software. Feel free to overview the list below and better understand how this type of software works.
It’s already nice and clear that time is one of the most valuable resources we need to handle. However, bad time management usually happens without you noticing. Employees waste a large amount of their time on tasks that no longer need to be manually performed. Process automation is a vital tool in every business that wants to do things in a pro-efficient manner. It will free up a large amount of time and allow your employees to focus on tasks that actually matter. Cloud services for accounting are mostly efficiency-oriented, designed to eliminate unnecessary manual tasks and consistently save your company valuable time.
Cost and time effectiveness
Due to the fact that all your information is stored over a remote server, your instalment costs will considerably decrease. This way, you no longer have to invest in new hardware such as HDD.
With the cloud, you can access your financial figures and accounts at any time and any place, even from your mobile phone. A massive advantage compared to the traditional way of accounting, which keeps you tied to your office
Storing all your data stored on one unique computer exposes you to multiple risk factors out there. It could get flooded, hacked or stolen. You could even spill your mid-day latte on it and compromise an important amount of data.
Normally, when using a traditional accounting system, if someone would get physical access to your computer, they would also obtain access to all your customer data and accounting details. Besides all that, a lot of local security is not strong at all, and in most cases, it does not represent a reliable option. Accounting data stored locally on your PC is prone to ransomware attacks and viruses.
Cloud services for accounting prevent this since no one can access your data under any circumstances without logging into your cloud account. Even if they would somehow gain access to your credentials, they still won’t be able to log-in, due to the two-step authentication factor.
With cloud technology, all your data is saved, stored and backed up through encryption at the highest level.
Data encryption aims to shield and protect the confidentiality of digital data as it gets transmitted from one network to another. All your work progress gets automatically saved as you go, so you don’t need to spend time, energy, money, and complex backup procedures.
Using cloud accounting can deliver the dream of having a paperless office. With traditional accounting, dealing with paperwork, data entry and financial administration can start to eat into your business time. Everything must be printed out and dealt with in hard copy, and this is slow, ineffective and bad for the environment.
With an online accounting system, you can significantly reduce your reliance on paperwork. Invoices can be emailed out directly to clients, removing printing and postage costs and speeding up the payment process. Incoming bills and receipts can be scanned and saved instantly with the associated transactions in your accounting software.
And because your documents are all digitised and stored in the cloud, there is no need to keep the paper originals – saving on filing space and storage costs.
About Alavanca Systems
All accounting firms understand they need to utilize technology to remain competitive, but few firms actually utilize technology to its full potential. Leveraging the right technology to its full potential can help you grow and get more out of your accounting firm. That’s exactly what Alavanca Systems provides for our CPA clients – the knowledge and experience to leverage technology to support your ongoing success and growth. By implementing IT solutions, such as hosted desktop services in Chicagoland, we provide you, your accountants, and your support staff the ability to leverage your computers, cloud assets, data, and applications without worries about technology outages slowdowns, or security problems. We’re happy to provide round-the-clock IT support for accounting firms. Over the last 25 years, we have been providing top-notch cybersecurity management, data backup, consulting and implementing cloud services for accounting. Employing our IT services for accounting companies opens up a door to new growth opportunities.
Thinking about moving to the cloud? AlavancaSystems provides cloud-hosted desktops for accounting firms in Chicagoland.
Opt-in, improve, and help your business stay on top of the digital trend. Feel free to connect with us, and let’s have a no-pressure discussion regarding your firm’s opportunities.
Ciro Cetrangolo is an IT specialist with over 30+ years in the IT services industry. Ciro has a deep understanding of the software, workflow, and underlying technology of accounting organizations and helps firms like yours achieve the secure, stable, and streamlined IT environments you need to accomplish your work more effectively. See my Amazon Author Profile