Tax and Accounting firms can no longer resist investing in IT infrastructure as the benefits consistently outweigh the costs with the variety of options available. Technological change is happening, and you must adapt to stay competitive. The mystery surrounding cloud hosting has dissolved. Moving beyond legacy, hardware-based, in-house IT to a cloud firm has become a standard best practice among leading Tax and Accounting firms.
With the turn of the decade, Tax and Accounting firms can expect to face a host of challenges, including an ever-shifting regulatory landscape in regards to data protection and a host of technological advancements such as artificial intelligence, machine learning, and robotics.
It has become abundantly clear that Tax and Accounting firms that have resisted investing in more robust IT infrastructure, such as the cloud, are behind the proverbial eight ball. Forward-thinking Tax and Accounting firms are set to thrive and outgrow legacy IT ecosystems by leveraging the cloud and other IT approaches that enable more reliability, security, and scalability.
Where does your firm stand when it comes to the cloud?
Are you still managing your IT in-house and relying on overworked IT staff to keep your data secure and software updated? Have you explored the cloud and migrating to a cloud hosting partner but are hesitant to pull the trigger because of analysis paralysis? Are you concerned that migrating legacy systems to the cloud will cause a ton of work and disrupt your daily work-flow?
It has never been easier to migrate to the cloud. Here are some quick facts and benefits of the cloud to consider:
Increased Data Security and Privacy
Accounting and Tax Professionals are trusted with sensitive data from salaries to annual taxes and everything in-between. Cybersecurity is nearly inconceivably complicated and ever-changing, making it almost impossible for even highly experienced IT teams to counter every possible threat. Add to this the increasing regulations around data privacy in Europe (GDPR) and a similar push for more robust data privacy laws in the US, and Tax and Accounting firms have complex data security and privacy environment to navigate.
Verito offers dual-level security to ensure the physical and logical security of your valuable data. Our Data Center’s physical security includes armed guards, biometrics, pre-approved clearance, restricted access, and geographical dispersion of our data centers to ensure maximal security. Our Data Center’s logical security includes enterprise-level firewalls, automated daily back-ups, optional two-factor authentication, user-defined permissions, and encryption.
Anytime, anywhere access capabilities, consistent, reliable data back-ups, data redundancy, and greater document sharing and controls make the cloud ideal for maintaining current and future data privacy compliance.
Increased Mobility and Security for Remote Work
The cloud is the perfect solution for today’s rapidly evolving workplace. Remote work often called telecommuting, has increased significantly over the past decade.
A recent study out of Stanford University revealed a 13% increase in productivity for telecommuters. This increased productivity came as a result of reduced commute times and increased concentration while at home. Today’s open office floor plans, designed to enhance communication, have often resulted in a considerable drop in productivity because of how difficult it can be to concentrate while people are talking near you.
The research into task-switching and multi-tasking are conclusive; they significantly reduce your actual output while increasing your anxiety and “busyness.” Telecommuting also protects business continuity by enabling staff to continue working should the office become unavailable for some reason, such as weather conditions or something more extreme like the recent COVID-19 pandemic.
Moving your IT to a trusted cloud provider relieves you of the stress of setting up your own IT ecosystem. A remote workforce would require an IT solution that enables users to securely log-in, access only the files they should be, back-up data daily to ensure no critical files are lost in case of theft or hack. All you need to access the cloud is the internet and an internet-capable device such as a tablet, smartphone, laptop, or desktop computer.
Increased Application Options
A common question we receive is, “Will my accounting or tax application work with the cloud?” The answer is: if it works on a desktop computer, then it will work on our cloud.
The flexibility of deciding which application based on your own business needs rather than the online features each company such as Intuit, Wolters Kluwer, Thomson Reuters, or Sage choose to have with their applications. These companies are moving towards a more cloud-based approach with their applications, but right now, the desktop suite is always significantly more robust. A cloud provider like Verito can host the desktop version, which will give you all of the features of the desktop suite with all of the accessibility of the cloud.
Improved Customer Experience and Reduced Risk
Migrating to the cloud makes sense on so many levels. Employee productivity increases with easier access to data, greater collaborative potential, and the ability to work from anywhere, securely. A more productive, happy team will better navigate the stresses of tax season and will be able to more consistently deliver an even better customer experience. Reduced risk of data breaches or cyberattacks will make it less likely that your Tax and Accounting firms will endure a catastrophic breath that could drastically disrupt business, destroy customer trust, and do irreparable damage to your brand.
It’s time to get off the fence and adopt the cloud with your firm. Verito can help you choose the right package, ensure a smooth, painless migration, and get you reaping the benefits of the cloud in short order.
About Verito Technologies
Verito Technologies provides fully-managed, turn-key cloud hosting solutions for all size companies. We host your favorite tax/accounting software on a dedicated cloud server backed by enterprise-grade security that is SOC, PCI DSS, SSAE compliant, and our strategically located data centers offer a 99.99% uptime guarantee. Automated backups and a 24/7 support team provide complete peace of mind.