Cloud Computing technology has had great advancements throughout the past years, and now plays an integral part of many start-up companies and small businesses. Cloud computing offers a secure, flexible, and cost efficient way to manage your personal or corporate documents and programs. Businesses now have the opportunity to get rid of their onsite servers, and rent a virtual space on a centralized server where they have access to software and data when and where they need it most. Large companies have been taking advantage of centralized management systems for years, and with the recent advances of cloud computing, small businesses can now utilize this technology as well.
Cloud services offer a secure way to manage your documents, and give businesses the ability to reduce their risk of losing important data or information. In many instances, small businesses keep the majority of their information stored on their in-house computer systems. This can be extremely risky, as irreplaceable information can be easily lost due to a computer virus, crash, or power failure. By locating the company files on a secure cloud server, they gain the added security measure of the provider’s firewalls and encryption. A cloud service is also more reliably in terms of data retention and server uptime when compared to basic in-house systems.
Cloud systems are a flexible alternative to in-house systems, and allow clients to access important information from anywhere, at any time. They are also given the ability to easily share this information, for example, giving their bookkeeper access to specific files that are hosted from the cloud.
Aside from security and flexibility, cloud computing offers small businesses a way to reduce costs, and ultimately increase profitability. The adoption of a cloud based system can help to reduce labour and capital costs which can be the difference between life and death for a start-up or small business. Labour costs are reduced by having less staff to manage and maintain local servers and software, and IT services will be covered by the cloud provider. Capital costs are reduced because there is no need for physical servers and other equipment required to maintain a dedicated local server. The typical monthly fee for a cloud service will be substantially less than the upfront costs required to set up a similar service in house.
There are many examples of a cloud based system, generally in the form of software as a service (SAAS) offerings. LedgerDocs is an offering like that, providing an online application built for bookkeepers, accountants and small businesses to store and collaborate on the accounting related documents more efficiently. Learn more about LedgerDocs features.