According to digital transformation statistics, global expenditures on digital transformation stood at $1.3 trillion in 2020, which is expected to surge to $2.4 trillion by the end of 2022. Not only that, but it will also contribute almost half of the global GDP by 2023. All these numbers point toward the rapid adoption of digital transformation.
As businesses increase their reliance on technology, they need solutions that are easily scalable and provide them with the flexibility and accessibility they need. This is where cloud hosting comes in handy. It not only reduces the costs but can also save you from the hassle of buying, maintaining, and upgrading expensive hardware to host your accounting software.
If you are still confused about whether you should move your accounting software to the cloud or not, this article will clear up all your confusion by highlighting the reasons why you should adopt the cloud for hosting your accounting software. In this article, you will learn about seven reasons why you should consider hosting your accounting software on the cloud.
7 Reasons Why You Should Host Your Accounting Software In The Cloud
Here are seven convincing reasons why you should host your accounting software in the cloud.
One of the biggest perks of migrating your accounting software to the cloud is accessibility. This frees you up from being in your office to access your accounting software. You can access your accounting software anytime, anywhere from any internet-connected device. This means that even if you are traveling or on the go, you can access your accounting software remotely.
All you need is a device that is connected to the internet and you can access your accounting software. This can come in handy if you travel a lot or are working from home. This also means that you can collaborate with others and stay up to date with the latest changes made to your accounting software even while you are out and about. Unfortunately, you won’t get this kind of accessibility when your accounting software is hosted on a physical server or computer.
Unified and Centralized Operations
If your accounting department is struggling to manage everything because of the mess and chaos, you should definitely consider migrating your accounting software to the cloud. This will streamline operations by storing everything at a centralized location.
It will give you better control and reduce the risk of errors and glitches. This can also make it easier for your business to manage everything as you can monitor and supervise everything from a unified dashboard. Best of all, it enables you to overcome all the roadblocks, which would speed up your decision-making process.
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If you have bought an accounting suite that has all the features you need or are already using one then third-party integrations might not be such a big deal for you. Sadly, this is not the case with most businesses as they buy stand-alone accounting software. As a result, they have to rely on third-party integrations for added functionality.
Hosting your accounting software to the managed cloud takes the pain out of integrating third-party tools with your accounting software. Let’s say you want to manage your payroll, you will have to integrate the tool with your accounting software to manage the smooth flow of data. This can improve your team’s productivity while giving you better visibility and greater control over your data.
Another advantage of hosting your accounting software in the cloud is that most people tend to overlook frequent data backups. When you are hosting your accounting software in the cloud, you will have to hire a cloud hosting provider. Most of these cloud hosting providers offer their users frequent data backup facilities. You can take advantage of this feature and get the peace of mind that your data is in safe hands, in case something goes wrong.
When your accounting software is hosted in-house cloudways reviews or databases, it is not only prone to internal threats but also susceptible to external attacks as well. On the contrary, your accounting software is both physically and digitally secure when it is hosted on the cloud. This is why cloud hosting is a better option as compared to dedicated servers and dedicated hosting server deals.
Cloud hosting providers use advanced CCTV cameras to monitor their data centers. Additionally, they also deploy security features to protect your cloud data digitally such as multi-factor authentication, encryption, intrusion detection, and response systems, as well as DDoS protection to keep your cloud data safe.
As mentioned above, hosting your accounting software comes with cost benefits. You don’t have to shell out thousands of dollars to buy expensive hardware to host your accounting software or hire skilled professionals to manage and update it. Moreover, you don’t even have to worry about updating the hardware. Your cloud hosting provider will manage everything on your behalf.
Depending on the cloud hosting model you choose, it can also free your IT team and reduce the burden off their shoulders so they can focus on more value-driven activities instead of monitoring your in-house servers round the clock. When you combine the cost of all these things, you can literally save thousands of dollars by migrating your accounting software from cheap dedicated hosting to cloud dedicated server hosting.
Physical hardware such as computers and dedicated servers can slowly get outdated. You will have to buy newer and better hardware to fulfill your growing demands. This increases the overall cost of operations. Thankfully, this is not the case with the cloud. You can acquire resources instantly and scale up and down based on fluctuating demands and business needs. This makes it easier for businesses to scale with cloud-based solutions. If their business grows, their cloud-based solution grows with it. This is what makes cloud-based solutions so popular among growing businesses. Would you host your accounting software on the cloud after reading this article? If yes, which reason compelled you to host your accounting software in the cloud? Share it with us in the comments section below.