How Managed Cloud Hosting Can Save Time and Money for Your Accounting Firm

Security is paramount to the success of any accounting process. The accounting data comprises confidential and critical financial information that cannot be compromised at any cost. That is why an extra layer of security never hurts.

Out of all the available options, managed cloud hosting is by far the most secure platform for your accounting data and applications.

Managed cloud hosting offers advanced security, performance, and mobility to businesses. No wonder the cloud services market rose 17.5 percent in 2019. This indicates the growing popularity of this technology.

Accounting firms deal with increased compliance, infrastructure costs, and operational expenses. Moreover, repetitive IT maintenance work also hampers revenue generation opportunities. Managed cloud hosting boosts business growth by maintaining high-quality services while reducing costs.

Here is how managed cloud hosting helps accounting firms save time and money -

1. No Maintenance Responsibilities

Operational efficiency is critical in the modern digitalized era. It adds reliability to the workflow and allows your firm to meet objectives.

However, a BPI Network survey revealed 82 percent of IT professionals spend more than half their time on maintenance and emergencies. Approximately 17 percent spend over 90 percent of their time on mundane activities.

This is where managed cloud hosting comes into play. It allows your firm to focus on the core accounting processes, making your service more competitive with an automated touch and bringing greater customer satisfaction.

2. Advanced Security Measures

When it comes to data security, the cloud infrastructure is second to none. Managed cloud hosting providers deploy advanced security methods to safeguard sensitive data. These include:

● Data encryption for safe data transmission

● Multi-factor authentication for secure cloud access

● Intrusion Detection and Prevention for identifying harmful data traffic

● 24*7 traffic monitoring to identify suspicious behavior

● Access controls to set permissions for file access

● Brute force attack protection

● Antivirus and anti-malware

Managed cloud hosting shields accountants from the increasing risk of online threats and frauds.

3. Cost Reduction

Maintaining an extensive network of accountants can prove expensive if you are doing it all in-house. Remember, not every accounting firm has the budget to hire a full IT team. This is why opting for a managed cloud hosting provider saves time and money.

Managed cloud hosting is not only cheaper than having your on-premise staff but also ensures that you get skilled cloud experts at your beck and call deployed by the cloud provider.

4. Access to Advanced Technology

Any accounting firm that avails the services of managed cloud hosting provider gets the latest technologies for the accounting functions. You can pay them only for the resources you use on a monthly or annual basis.

Managed cloud hosting also cuts spending on training and hiring since professional technicians are caught up on the latest trends and industry requirements.

5. State-of-the-art Infrastructure

With managed cloud hosting, your accounting firm will have access to state-of-the-art infrastructure to host your accounting software and data. On top of that, the cloud service provider regularly inspects the existing security standards and networks in order to make improvements and meet the objectives of your business.

6. Protection Against Disasters

The managed hosting providers keep your accounting data safe at every level, be it physical, admin, or network. During the transfer and management of data, theft issues are common in business, which affects your bottom line. But managed cloud hosting resolves this issue. Managed cloud services store the data remotely on redundant infrastructure. Thus, you avoid losing data.

Your organization is also ready for any disaster. The managed hosting provider replicates your data in multiple data centers. Hence, even if a data center falls victim to a natural disaster like an earthquake, you can continue working with the accounting process on another location.

7. Time Savings to Fulfill Client Demands

With managed cloud hosting, you can speed up your accounting firm. Fast responses not only increase your business’ reputation but save time and improve productivity as well. This is because the managed hosting provider offers round-the-clock support to resolve all your IT-related issues instantly.

Hiring technicians to do the same job is expensive too, but outsourcing the task helps you focus on what’s important. You can use this opportunity to resolve various network issues effectively.

Concluding Remarks

85 percent of accountants feel the need to speed up technology adoption so they can stay competitive. With clients becoming more tech-savvy, this is the perfect time for managed cloud hosting. With cost-savings, support, security, and sophisticated technology, managing operations and risks for accounting firms have never been easier.