What is cloud based computing?

Cloud based computing is the delivery of on-demand computing and IT services from a cloud service provider. Rather than having a centralised, internal system of your own, companies can use the cloud.

Companies can choose which services they require, depending on their own business needs. Cloud computing includes everything from storage and processing power to AI and various office applications.

Benefits of cloud computing

Many accounting companies have switched to a cloud based IT infrastructure because of the many benefits it brings. Here are a few reasons to consider adopting a cloud based computing approach:

Cost

IT hardware and software can be expensive to buy and run. There are servers to consider, increased electricity and IT experts who need to manage the infrastructure. By moving to the cloud you can negate these extra costs and capital expense, reducing your overall spend. Studies have shown that those adopting cloud based computing can see a reduction in IT spend of around 15%.

Collaboration

Cloud computing improves collaboration by allowing people to meet virtually and remotely, whether that’s customers or colleagues. The cloud also makes sharing information incredibly easy and because it can be done in real time, it increase efficiency and productivity. You’ll also find increased mobility with workers being able to take their work anywhere via smartphones and tablets.

Reliability

Through cloud computing, things like data backup, disaster recovery and business continuity become easier and less expensive, ultimately meaning that you have a more reliable service.

Speed

Cloud computing can process large amounts of data quickly and efficiently, speeding up your IT processes. Through the cloud, process efficiency can increase by around 18%.

Productivity

Cloud computing removes the need for many cumbersome IT management tasks, so your accounting firm can spend time on achieving more important business goals instead.

Performance

Because cloud computing services run on a worldwide network of secure data centres, rather than a single private data centre, performance tends to be better. This is because you’re not relying on just one centre and means you don’t have to contend with things like network latency.

Security

Security is naturally a big concern for any accounting company due to the sensitive data they process. However, many cloud computing providers offer technologies and controls that strengthen your overall security. In fact, cloud computing can actually help protect your data, apps and infrastructure from potential threats.

If you’re an accounting company who wants to avoid the complexity, cost and headache of owning and maintaining your own IT infrastructure, and instead want to simply pay for what you use, when you use it, contact us at Prism to see how we can help.