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Cloud computing accounting software - cloud computing accounting software is accounting software that is hosted on remote servers. Cloud based accounting software works in essentially the same way as all other cloud based software. Due to the information being stored in such a way that it is always accessible, users can log in and perform accounting practices on any computer on the planet with an Internet connection. Using cloud computing accounting software means that the business does not have to pay for, install, manage or protect software on individual machines.
Benefits of cloud computing to the organisation
 Store and share data – cloud services can often store more data than traditional, local physical drives, and the data can be shared more easily (regardless of physical location).
 On-demand self-service – users can gain access to technology on demand. For example, every time you download an app from iTunes or the Play store you are downloading it from a cloud service where it is stored.
 Flexibility – work can be done more flexibly as employees no longer need to be ‘plugged into’ work networks or facilities to access the data they need.
 Collaboration – the cloud facilitates better workforce collaboration – documents, plans etc. can be worked on by many different users simultaneously.
 More competitive – smaller firms can get access to technology and services that, without significant financial investment, may otherwise only be available to the largest organisations. This can allow small organisations to compete better with larger rivals.
 Easier scaling – cloud services provide high levels of flexibility in terms of size, number of authorized users etc. This means that the service can grow as the business grows, and allows businesses to scale up much more easily.
 Reduced maintenance – there is no longer need on the part of the organisation for regular maintenance and (security or software) updates of IT services; the cloud provider will take care of this.
 Back-ups – it can be used to back up data. This adds an extra layer of security and removes the need for physical devices to store backed-up data.
 Disaster recovery – this means that it can also aid disaster recovery. Using cloud technology makes this faster and cheaper.
 Better security – the cloud can increase security of data. For example, if in the past an employee were to lose a laptop with sensitive data on it, this would be a high risk security event for the organisation. Keeping data stored in the cloud should reduce such risks associated with hardware.

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