The major advantage of Tax software Cloud environment flows from the always on accessibility of the tax data from any place anytime and multi-user accessibility of the application. Some of the advantages of getting tax software hosted in the Cloud are;
• Centralized Database : Managing multiple clients is an uphill task for the finance professionals more so when they are located in multiple locations. Having the data of all clients at centralized server, accessible form any online connection really adds on to the productivity quotient for the tax planner.
• Add-ons: There are available a large number of tax software Add-ons which makes the Applications more powerful and more usable for industry specific solutions. The integration with Add-ons is easy if both the tax Software and the various add-ons are hosted on terminal servers together as this way it is easy to export/import data. Some of the listed Add-ons that can be hosted are Lacerte Document management system, Lacerte tax planner, Lacerte tax analyzer and Lacerte trial balance utility.
• The cost Factor: Cost of tax preparation impact heavily on the profitability of the tax firm. Sine most of the tax planners work in multiuser environment, to run the application they have to install enterprise network or LAN to access the application.
• Cost saving estimate: As per the latest forecasts by the consulting firms, application hosting can lead to savings of up to 80% as compared to establishing the complete local network for running the software. The cost saving are on account of reduced IT support costs, remote backup solutions, and above all increasing the flexibility and reliability which is really a big achievement by any small and large business as it saves the valuable Time.
Know about Drake Hosting
Besides anytime anywhere access and collaboration an important functionality offered by Drake tax software hosting is the ability to have your office operate just from any location. During tax heavy season this corollary would translate into using outsourced manpower at cost effective rates or using part time work. With the access to data, you know exactly what work is being done or evaluate quality of the work in real time for error free tax preparation.
Besides server and network, application lifetime costs also include installation and occasional troubleshooting costs. Tax software hosting not only save the Drake or Lacerte or PeachTree tax preparer these costs but also minimizes the need for onetime upfront cost as the services are available on a monthly subscription basis without any hassle of managing and spending huge money on it.
