The Cloud is Critically Important for Accounting Practices of all Sizes

Cloud computing is on the upswing across myriad industries. Those who work at accounting practices find the cloud to be particularly helpful. The cloud empowers accountants and support staff to do more  in less time with as few resources as possible. The cloud has hit a mainstream tipping point partially because it allows businesses to focus on their operations while leaving maintenance and upgrades to the cloud provider. Furthermore, this technology is cost-efficient, empowering accounting practices to pay as they go. Here is a deeper look at the merits of the cloud for accounting practices.

How the Cloud Benefits Accountants

The cloud empowers accountants to retrieve data regardless of their physical location. In fact, accountants can collaborate with colleagues, clients and other trusted parties though the cloud. There is no need to worry about upgrades, system maintenance or scaling as the business grows. The cloud provider takes care of all of these responsibilities. Take advantage of the cloud and you will be able to expand your services, manage documents with ease and not have to worry about adding to your infrastructure. The cloud will make your team that much more resilient and agile. This is exactly what you need to maintain business continuity.

Strategic Considerations

Deploying the proper application through the optimal architecture will require more than simply migrating current applications to the cloud. There are a number of strategic considerations to ponder, ranging from architecture to readiness, governance and the integration of the platform with current legacy systems. The initial step is to form goals and overarching principles that ameliorate the execution of the strategy. This means risks must be analyzed in-depth in the context of your company’s tolerance for risk as well as clients’ tolerance for risk.

Data Continuity

Continuity is essential for migrations to the cloud. When planning for cloud conversions, take some time to consider what your clients and your own business will need. If continuous access is necessary, consider implementing the migration in phases. Continuity will be provided by legacy systems as additional functions are implemented to the cloud. The aim is to transfer operations to the cloud in a manner that minimizes risk. Everything from capacity to risk management and choosing the right vendor must be analyzed.

The Issue of Security

There is a common misconception deploying the cloud results in less security. Security should be at the forefront of your mind yet selecting the right service provider will reduce the risk. Vet prospective cloud providers when selecting vendors. Implement standardized controls to ensure company policies and compliance requirements are met. Once these safeguards are in place and your firm is aligned with a trustworthy cloud service provider, you will no longer worry about your data being compromised.