Drake, a professional tax management software, is designed for SMBs, CPAs, and accounting firms. The software enables tax professionals to prepare and process tax returns efficiently, which helps them focus more on their clients and increase their business productivity.
While the software offers numerous benefits to its users, hosting it on the cloud adds more value to its functionality.
Below are the top seven benefits of hosting Drake on the cloud
1. Flexible Access to Your Tax Data
Cloud allows users to work from anywhere and at any time with an Internet-enabled device. This easy accessibility adds great convenience for the users. Multiple users can access and share the same files and data simultaneously with no disruption.
With a collaborative platform, the cloud makes it easier for tax preparers or CPAs to coordinate with their clients to make necessary changes in their tax filing process.
As there is no restriction of being tied to a local system, productivity increases, irrespective of the location from which you are working. It is easier to work on Drake hosted software as the user-interface is the same as the desktop version.
2. Huge Cost Savings in the Cloud
Drake hosting results in cost efficiency as it reduces the cost of IT infrastructure significantly. There is no need for software installation, upgrade, maintenance, or even a dedicated IT staff, as all these things are taken care of by the cloud provider.
Moreover, cloud services free you from capital expenditure. You just need to pay for what you use and enjoy the services based on your subscription plan. Moreover, as downtime issues are rare in the cloud, you don’t have to spend money to fix potential downtime issues. It is a misconception that only large companies can afford cloud services, when in fact, they’re extremely affordable to SMBs.
3. Enhanced Security
Gone are the days when technical experts doubted security in the cloud. In the past few years, security in the cloud has elevated to much higher levels. With advanced security techniques such as firewalls, anti-virus, multi-factor authentication, automated backups, end-to-end encryption, and Intrusion Detection and Prevention System (IDS & IPS), your tax data is more secure than a locally managed system.
Users can even remotely wipe out their data from stolen or lost systems to avoid it getting in the wrong hands. Drake hosting providers are also equipped to prevent data loss from any human error or natural calamity with well-documented disaster recovery procedures. Know more about the benefits of QuickBooks Cloud Accounting in detail.
I hope this information will be helpful!