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Triumph ERP Blog

Welcome to Triumph Business System's company blog! Here you will find valuable articles about Triumph, business management software, industry news and other related topics.

7 Business Benefits of Cloud Software

7 Business Benefits of Cloud Software

 

There is a lot of hype these days about the phenomena of the ‘cloud’, the way it is revolutionising the way people use technology, and the way people do business. So what is the cloud, and why should you use it? To simplify things, we have explained a general definition and listed the benefits of using cloud-based accounting software in your business.


What is the ‘cloud’ and how does it work?

Put simply, the cloud is computing as a service rather than a product, which is leased rather than purchased outright. Resources such as hardware, programs and information are shared over a network (the Internet) and are hosted at an offsite location, rather than internally. Cloud computing has been around for a while, in fact you probably use it every day. If you have a Hotmail or Yahoo email account or use internet banking, you have used the cloud.


What are the benefits of the Cloud?

1. 24/7 access from anywhere
You have access to all of your data from anywhere in the world, as long as you have an Internet connection and a computer. This means increased flexibility of work practices.

2. Save on infrastructure costs
Cloud computing means that an external network of computers handles most of the work, rather than your local computers. Essentially any computer with internet access is all that is required. This means less hardware, software, and licensing costs for you. Cloud systems are based on a pay-as-you-go pricing structure, meaning you only pay for what you use.

3. Increased flexibility
Using cloud-based software means that it is much easier to add users or modules as your operating needs change and your business grows, saving you time. It also means that you don’t have a large upfront investment. So if required, moving from one cloud software product to another is not financially prohibitive.

4. Scalability
Cloud based hardware infrastructure is generally all virtualised. Meaning that resources such as processing power and hard disk space are only allocated and limited by what you need. As your business grows or contracts these resources can be quickly and easily increased or decreased to match your requirements.

5. Seamless product updates
Keeping your software up-to-date is essential for good business management. Unfortunately when the software is installed on your own local network, upgrades can be time consuming, expensive and cause unforseen problems. Cloud software on the other hand will be continuously and seamlessly upgraded by the software manufacturer on their own cloud infrastructure, the cost of this covered by the manufacturer.

6. Secure data backups
Performing regular backups and having a disaster recovery plan in place is essential for your business’ survival, as discussed in our article here. Having your data stored in the cloud means one less thing you need to worry about – your data is already stored in a secure offsite location and being backed up for you.

7. 100% tax deduction
Because the cloud is ‘Pay as you go’ you get a 100% tax deduction on the cost of your cloud services, which also has a very positive impact on cash flow compared to depreciation.

 

The benefits of using the cloud are clear - can you think of any more? Please add your thoughts and comments below.


Note: the benefits listed above are generic and may not apply to all cloud service providers.

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