Tax preparation for a business is quite complex, whether you do it for yourself or other clients. However, if you look at the statistics and numbers, the tax preparation services industry has a market size of $11.6 billion in 2022 and has grown at an annual rate of 1.6% on average since 2017 (Source).
Regardless of your strengths and expertise in this field, it is inevitable to seek assistance from technology while preparing taxes. This is where TaxWise software – one of the leading tax preparation software comes into the picture. It has been designed with features that work incredibly well for individual tax preparers, accounting firms, and tax professionals.
While many businesses/individuals use the desktop version of TaxWise software to get things done, most are now migrating to TaxWise hosting for various reasons and benefits.
If you want to empower your TaxWise desktop software with cloud technology, it makes sense to know more about TaxWise software hosting first. So let us help you with that.
5 Reasons You Should Switch to TaxWise Software Hosting in 2022
Top-notch data security
Whether you are new to providing tax preparation services or a seasoned player, there’s a good chance you have heard about the risks related to handling client-specific financial data. You might have also invested in data security measures to protect it from external intrusion.
Although there are plenty of security measures for tax software protection in local IT setups, they cannot undermine cloud technology’s benefits. When you host TaxWise software on the cloud, you benefit from high security for mission-critical data based on mechanisms like IDS, IPS, and data encryption, to name a few.
The result – you can rest assured your clients’ data will stay safe on cloud servers owned and managed by your cloud provider.
Remote TaxWise software access
When you use local-hosted TaxWise software, you install it on local computer systems for the number of team members working for your accounting firm. Each must visit the office and access the software via their respective systems to get things done. Ideally, you would expect the team to work from wherever they are located and ensure accurate tax preparation.
It’s worth mentioning in simple words that the local IT environment does not allow remote software access. To get that, you need TaxWise tax software hosting solutions. Once your licensed software is hosted on the cloud, then it will be remotely accessible to all of your workforce.
As with any new technology you use for your business, it must be well thought out and checked before implementing it. Verito Technologies, a renowned TaxWise hosting provider, offers a 15-day free trial to get accustomed to the cloud environment before you pay for our hosting plan.
Recommended Read: 5 Features to Look for In A TaxWise Cloud Hosting Provider
Highly scalable cloud hosting plans
With a desktop environment supporting business applications on the ground, you are bound to work up to their maximum computing capacity. It also means that you need to invest in upgrading the hardware whenever you need to scale the operational capacity. While planning for growth is essential for every tax preparation service provider, you cannot do so without external help.
Cloud technology backing your TaxWise software can make things easier for you in terms of scalability. Whenever the need for a better hosting plan arises, you only need to convey the requirements in terms of scaled resources to your hosting provider.
You can easily add users, increase CPU and RAM efficiency, and switch to dedicated servers with TaxWise software hosting.
Efficient team collaboration
There is a difference between working for more clients with a significant team and working more for clients backed with the right technology. Tax preparation requires high accuracy before the tax returns are filed, which is why it involves multiple checks at different stages handled by professionals. When this has to be handled sequentially, it usually takes time and effort.
Even this aspect can be simplified with cloud hosting. In addition, this multifaceted solution can enable all team members to work on the same data files simultaneously once they are hosted on the cloud.
Active customer support
Why should you even consider the support side of cloud hosting from the very start? It is because:
- Any technical issue can suddenly arise, leaving you stuck at work.
- Failing to resolve such issues can affect performance and inaccurate tax preparation.
- You might think of investing in onsite support, which can be quite expensive.
With TaxWise hosting, you will get round-the-clock support for your queries related to cloud-hosted TaxWise.
As you can see here, hosted TaxWise software can avail you of many benefits for your accounting firm. To get started, call our solution consultant today at 1-855-583-7486.