Over the course of the past decade, cloud technology has taken various avenues of business by
Companies across the globe have made the switch from on-premises information technology storage to cloud technology, with nearly every department within a company benefiting from the advantages of “the cloud” — including accounting teams.
This rapid change not only quickens processes but also reduces IT overhead costs, providing companies that utilize cloud technology with more opportunity for expansive profitability.
And accounting and finance teams worldwide are “some of the most rapidly evolving as new cloud technologies simultaneously present new opportunities and imperatives.”
As defined by Microsoft, “cloud computing is the delivery of computing services—including servers,
storage, databases, networking, software, analytics, and intelligence—over the Internet (‘the cloud’)
to offer faster innovation, flexible resources, and economies of scale.”
And there are various benefits that make cloud computing advantageous for businesses.
For one, cloud computing is far less costly for businesses than the physical technology that predated it, as it eliminates the hefty expenses of hardware, software, and on-site data centers.
Businesses and their employees have become
indebted to “the cloud” for its unbeatable speed.
They are now able to complete tasks in minutes via a handful of clicks.
Cloud computing also allows businesses to receive the correct amount of IT resources
This system allows distribution of IT resources when and where they may be needed, across all offices, and to all employees.
Additionally, “the biggest cloud computing services run on a worldwide network of secure data
centers, which are regularly upgraded to the latest generation of fast and efficient computing
hardware,” providing “reduced network latency for applications and greater economies of scale.”
The problem with most cloud providers
Moreover, “many cloud providers offer a broad set of policies, technologies, and controls that
strengthen your security posture overall.”
Business can set up a private cloud, which “is typically dedicated to one organization on its own highly secure, private network.” Cloud technology provides for secure data storage and retrieval, all while protecting your apps and other infrastructure from prospective threats.
And without the on-site IT management chores that come along with physical hardware, IT teams can make better use of their time and focus on how they can make advances towards the goals of the business.
If you want to learn about what questions to ask your IT support provider, watch this video.
In these rather uncertain and unchartered conditions that our world is currently faced with, cloud
technology has been the salvation of countless companies as their employees adjust to the new
normal of working remotely.
The reliability of “the cloud” has also made the act of working remotely less of a hassle. And furthering sweetening the deal, cloud computing supplies hardworking employees with the tools necessary for them to successfully work from home securely.
Accountants depending on Cloud Computing
“Cloud technology makes data backup, disaster recovery, and business continuity easier and less expensive,” all while giving employees worldwide the opportunity to both access and work with the same data at the same time.
In this way, “the cloud” provides businesses and their employees with previously untapped levels of access, productivity, and flexibility “wherever the employee may be, on whatever device they have and via whatever network/connection may be available.”