The value of cloud-based software
CPA firms are looking for cloud-based software solutions for a variety of reasons. Largely, it has to do with cost. For example, the below points all come at a high cost.
- First, it is expensive to purchase in-house servers to host data and handle computing needs.
- Additionally, it’s also expensive to employ dedicated IT personnel to maintain and manage those servers.
- Moreover, traditional desk-top software requires IT personnel to continuously install updates throughout the year and on every computer in the firm.
Furthermore, a critical need for firms is securing data. With this in mind, it’s good to know that hosts of cloud-based software make data security their number one priority! Fact is, cloud-based software hosts have the resources and the infrastructure to provide these three critical items. Therefore, how can you compete with that?
- First, computing power
- Second, data storage
- Third, data security
As if cost savings, computing power and increased security weren’t enough to drive CPA firms to cloud-based software, there’s even more! Just imagine the ability to:
- One, attract top talent from across the country because your staff can work from anywhere, anytime. With easy to use cloud software and no installation needed, it’s a breeze to get new staff up and running!
- Two, retain talent because your staff isn’t bogged down with manual, mundane compliance tasks. Instead, they have more time for the more rewarding aspects of being a CPA. Like providing in-depth advisory services they know their customers want, for example.
- Three, collaborate easily within your audit teams and with your customers. After all, building better client relationships, increasing the efficiency and effectiveness of your workflows, and improving realization are all goals of every firm.
The value of CCH Axcess Financial Prep
Now, are you ready to get your head (and firm) in the cloud? Then, be sure to take a look at CCH Axcess™ Financial Prep. This cloud-based solution received the Gold Award in the Cloud Computing/SaaS Innovations category in the 2019 Golden Bridge Awards. By using artificial intelligence and machine learning, this technology:
- Eliminates the manual process of grouping accounts when creating tax reports
- Automates business tax preparation work, as a dynamic, end-to-end trial balance solution
- Allows multiple staff to work simultaneously within the same engagement thanks to a common cloud database
- Leverages professional judgment for needed adjustments, before sending balances to the business tax return in CCH Axcess™ Tax
Therefore, if you haven’t already check out CCH Axcess Financial Prep, then now is the time.
P.S. Also, if you haven’t already, take a minute to also read Overcome Tax Season Challenges. It compliments the content in this blog.