Tag: Cloud Accounting
Cloud accounting software is similar to traditional, on-premises, or self-install accounting software, only the accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent into “the cloud,” where it is processed and returned to the user. All application functions are performed off-site, not on the user’s desktop. In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider. Using it frees the business from having to install and maintain software on individual desktop computers. It also allows employees in other departments, remote or branch offices to access the same data and the same version of the software.
With cloud accounting, it’s also easier to get real-time reporting and visibility throughout your organization, with greater mobile capabilities and collaboration. Subscription-based models are popular among cloud accounting providers, and in most cases these subscriptions are usage-based. Companies that pay a cloud accounting subscription receive updates to the software as soon as they arrive, with no additional software purchases required.