The advent of high-speed internet coupled with easy to deploy technology has made cloud-based accounting a secure and cost-effective option. The flexibility offered by working on the cloud means that exciting opportunities for setting up potential offshore accounting teams are aplenty.
Increased security for confidential & sensitive information, elimination of paperwork, best-in-class connectivity with clients and remotely stationed teams, and transparency in work are some of the benefits of working in the cloud.
Let us take a detailed look at how cloud accounting is changing the industry:
Flexible & convenient to work with
It is now possible to access your firm’s data without being tied to a specific device or location. Accounting firms find it convenient to coordinate with clients & offshore teams in India and deliver work on time due to the cloud.
Cost-effectiveness
The traditional on-premise software brings with it hardware costs, software licensing expenses, annual maintenance contracts, storage costs, etc. However, scaling up to cloud-based technology involves a nominal fee for subscription-based upon the features chosen. Reduced administration and system maintenance costs with the cloud vendor handling everything for you is a big plus.
Safety and reliability
Security is critical for accountants owing to sensitive confidential data they deal with. Cloud technology brings with it added layers of data security and reliability. The data is hosted in high-security data centers with complete backup, and stored in different locations the world over to avoid any security breaches. Leading offshore accounting & tax preparation service providers to ensure they function from behind a secure firewall and adopt robust security and multi-layer authentication at their workplaces.
Reduced compliance costs
The cost of hiring an offshore accounting team is significantly lesser than hiring people in-house, training & setup of infrastructure, caring for their medical & health benefits, etc. you can count on having quality work completed at a fraction of the time and money it is costing you locally. The money and time saved thus can be utilized to provide greater value-added services, and concentrating on your niche offerings.
Embracing the cloud will help elevate the client experience to new levels of convenience. This will open up new avenues, and differentiate your firm as a one-stop-shop for all your clients’ accounting needs.
Working with a trustworthy and efficient offshore accounting & tax return preparation provider like GKM will help you realize how much time you can save to focus on setting up more profitable services in your accounting firm. Engaging firms offshore, and moving to the cloud can help you find time and leverage your core accounting & tax expertise better.
Get ready. Let us take the first step today.
