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5 BIG Benefits Cloud Can Bring to Your Accounting Practice

Accounting firms are realizing the benefits of using cloud services.

Like most forward-thinking professionals, accountants and auditors want to work as efficiently and effectively as possible. And having the best tools in place can help them do so.

One solution many accounting practices are rapidly adopting is cloud technology. According to Caseware’s 2022 State of Accounting Firms Trends Report, which surveyed more than 3,000 accounting professionals from around the globe, just five percent of accounting practices have no plans for moving to the cloud over the next two years. 

It’s easy to see why. There are many benefits of moving to the cloud. It provides a secure, central location where authorized individuals, including accountants, auditors and clients, can access key files and sign off on documents. The cloud can help accountants and auditors overcome a number of challenges, including collaborating with remote colleagues and clients, tracking which staff are working on particular engagements, and ensuring important deadlines aren’t missed.

Using the cloud also makes it easier to track your key documents and files. Because everything is stored in one central location, you don’t need to search multiple shared drives or desktops to find the information you’re looking for. You also don’t need to keep buying more servers to store your files. You can save all your data in the cloud and your cloud storage will automatically grow as your files and data expand. You can easily save decades worth of information without needing to worry about where you’ll store it. And with all your data in one central location, you can easily apply analytics to it and identify important trends, spot risks and establish new benchmarks. 

Download this infographic to see the five biggest benefits of cloud-based accounting software.

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