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Be it business tax preparation or individual tax preparation, it takes a lot of effort on the part of CPAs and accounting professionals to prepare them. Hence, technologies that simplify the tax preparation process are always welcome. Tax preparation software hosting is one such platform and is specifically designed to address the pain areas of the professionals.
Time as always is a major issue with the CPAs who are frequently burdened with work, especially during the tax season. For them to be able to make the best use of their staff and streamline tax preparation it is necessary that they can extract the maximum out of existing staff, both in-house and external. CPAs are normally busy people and are constantly on the move. Staying in touch with their staff as well as availing the tax preparation applications and data residing on the office servers while they are out of their office precincts is a genuine problem normally encountered by them. While there are online solutions that are available they are not always viable for a lot of reasons like- safety issues, IT support, and backups.
Then, the absence of real-time collaboration may prevent CPAs from outsourcing work to other people. The productivity and flexibility of CPAs is also reduced by the fact that they can’t access data and applications anywhere at anytime. Apart from that security is a major issue for CPA professionals as well as small business entities as they are not well equipped to handle the exigencies associated with a local IT setup. Mostly business goals and limited capital don’t permit huge IT expenses. As such their networks are vulnerable to hackers and other malicious threats
Taking into account the above mentioned aspects, hosting tax applications like- Proseries, Lacerte, ATX, Ultra Tax, Drake, etc. on a third-party server can be a probable solution. Third-party hosted tax preparation software is provided over the Internet and is available at any place at anytime with the added functionality of real-time multi-user collaboration. CPA professionals now can access data and applications residing at the third party hosted server; stay in touch with their staff and share files and work on them simultaneously without bothering about their geographical locations. The ability to access data and applications from anywhere will be really appreciated by the CPA community as they can now work from just about anywhere and don’t have to postpone their work, as while traveling. All they need to have is Internet connectivity in their laptops and they are ready. It thus helps in enhancing productivity while saving on time and expenses.
Service providers, say Real Time Cloud Services, are also a good bet to tackle security issues as they have years of experience and sufficiently qualified experts and IT equipments to guard against security threats. The data is located at secure data centers and there are multiple backups as well done on a daily basis. With instant IT support and round the clock monitoring there is no break in business continuity. Further, users can take advantage of anywhere anytime functionality, specially considering the fact that access is very fast as the data and applications are hosted on the latest and most advanced terminal servers. Working remotely, thus turns out to be a pleasing experience.
While migrating to a hosted platform, the ease of operation of the platform is an important consideration. Tax preparation software hosting with a third party can prove to be fruitful in this regard as the services are designed in a way so as to insure that even a novice can master it in double-quick time. Also, there is no restriction when it comes to local backup and printing. To add to the positives of tax application hosting services, it is service on-demand and is charged on pay-per-user basis. This way, users only pay for what they use leading to great cost benefits.