How Hosting Drake Tax Software On Cloud Solves Challenges Tax Preparers Face?

Bhavleen Kaur
5 min readJul 13, 2020

Drake Software is one of the leading tax software in the market. It is a favorite of many accountants and tax professionals for the number of features and forms it offers.

However, desktop-based Drake tax software also creates many problems for tax professionals, such as they need to accomplish their tax process only when they are available on their desks, or transfer their tax data to and fro via email, and many more.

Moving their Drake Software to cloud solves a majority of the problems and helps in streamlining the tax processes. Most of the accounting firms and tax firms are adopting cloud technology because of the great features it offers to increases the business.

Tax professionals also face the challenges like filing tax returns on time, the security of clients’ crucial data, collaboration with the team to exchange the tax documents, are just a few more names.

The tax filing process requires several tools and documents. Hosting Drake software on the cloud enables you to have all your third-party applications and materials at a single platform. Cloud hosting will allow you to create a virtual workplace, and you can work efficiently with all the required resources.

Cloud technology also helps to increase productivity and improves the efficiency of tax professionals. Here are some significant benefits of Drake software hosting on the cloud; let’s have a look.

1. Work from Anywhere, Anytime

Real-time access to tax data is possible by hosting Drake software on the cloud; it promotes tax professionals’ mobility. Cloud-based drake software allows the tax professionals to access all the important from the remote location anytime and accomplish their taxation process.

It eliminates the problems of working via traditional desktop only, and you can access it from any device like mobile, tablets, and desktop.

The real-time access to tax data from the remote location saves time, but for many tax professionals, it also saves the transportation cost and makes your work life more balanced.

2. Advanced Security

Increasing the data breach in the field of tax is more common, and security is always the primary concern that every accountant and tax professionals seeking as they work on crucial data.

So, migrating their tax data on cloud will offer them enhanced and high-end security. Hosting Drake on cloud will help you to secure all the tax-related data. It is a full-time job for the cloud service provider to monitor your data, which is prominent than the traditional method.

If you want to remove the challenges of data security, then hosting Drake on the cloud will be the best solution.

3. Green Computing

Every large and small size businesses want to maintain the environment as well to preserve their reputation, but it is tough to keep the company as well as the environment. Hosting Drake Software on cloud is the best solution for all the accounting and tax firms to reduce the electronics waste of hardware resources and reduce power consumption.

Cloud contributes to minimizing carbon footprints and saves energy.

Most cloud service providers use green data centers to store and manage the data. Its data from the cloud also improves efficiency and increases productivity. Apart from these benefits, it has a tremendous positive impact on the environment.

4. Scalability

Every small accounting or tax firm grows according to their efforts pushing towards their business. As the firms grow, they need more resources, more storage space for their client’s data, sitting space for the tax professionals, and many more requirements.

Hosting Drake tax software on cloud will help later to upscale or downscale the need, which will directly impact your budget. Cloud services are very flexible and can be used by any firm, whether it is a large firm, small firms, or an individual tax professional.

The cloud service provider will remove the hardware cost, maintenance cost, and investing in the local infrastructure. It is very convenient to add, remove, and modify your packages as per your requirements. You don’t need to bother to bear the extra charges.

5. Third-party Add-ons

Drake Software is excellent software, but every tax software requires many third-party add-ons to accomplish their taxation processes. Hosting Drake software on the cloud will remove the challenge of integrating third-party software as desktop-based as it requires extra storage space, installation charges, and maintenance.

Hosted Drake Software on cloud will easily integrate all the necessary third-party software; the software’s installation and storage will be taken care of by the cloud service provider.

There is no restriction on how many add-ons you can integrate on the hosted Drake software. Easy integration of add-ons will improve productivity and easy access to all the types of data and reports whenever required. It will automate your complete taxation process.

6. Multi-User Collaboration

The complete tax process requires the collaboration of many professionals. Cloud-based tax software allows authentic professionals to work on the same file and same data. The cloud service provider allows multiple tax professionals to work on the same data to increase the team’s productivity to accomplish the taxation process.

With the multi-user collaboration feature, it also allows the transparency of adding, editing, deleting, or modifying the data. It tracks the real-time operations of all the tax processes.

Improved and effective collaboration on the cloud can help the tax firms reduce the time for preparing and sharing tax data. It will enhance teamwork in a more simplified manner. Any authorized person such as business owner, tax professional, accountants, and the client can view the real-time changes in the same file.

Wrapping Context

Drake Software hosted on cloud removes many more challenges faced by the tax professionals to accomplish their tax process. Cloud is one of the latest and best technologies that help everyone reduce the workload and improve their productivity.

Hosting Drake software on cloud is reliable and unfold many more daily challenges faced by tax professionals. Hence, it becomes essential technology for all big firms as well as every start-up is also investing in it to improve the efficiency of their processes.

--

--

Bhavleen Kaur

I’m an avid reader and like to write about trends in technology. I have worked as a Digital Marketer at Ace Cloud Hosting. I am pursuing MBA from NMIMS, Mumbai