How SaaS Is Changing the Accounting Landscape

Accounting is not often thought of as a cutting edge industry, nor are accountants typically considered risk takers or early adopters. That, however, is all changing with the advent of SaaS (Software as a Service) solutions. SaaS is a delivery model that relies on cloud computing instead of traditional servers for software hosting and storage, saving clients expensive infrastructure investments.

In the past, data had to be accessed either while on-premise or through a complex and rather slow remote VPN access; with SaaS solutions data can be retrieved from anywhere with a secure internet connection. Cloud computing allows easy software access regardless of location. This is particularly important in industries where multiple users need to be able to collaborate on the same data set.

Many small and medium sized businesses (SMBs) are likely not experts in the field of accounting and they may or may not have the technical knowledge needed to implement and maintain complex software solutions. SaaS accounting solutions alleviate this pressure, as the vendors take on the responsibility of maintaining, upgrading, and fixing any issues that may arise. SaaS solutions enable SMBs to provide prompt, efficient and cost effective services to clients, in turn helping them provide greater overall value.

There are certainly issues to address before jumping into a SaaS solution, such as privacy, data security, and downtime. Provided you make the most of educational resources available and go in well informed and prepared to ask questions, there are no reasons to avoid a SaaS accounting solution. The accounting landscape, which was long-stagnant, has been one of the first industries to adopt SaaS solutions and this has leveled the playing field between large organizations and smaller companies. The savings on technology investment combined with the access to expertise through vendors has enabled small and medium sized businesses to focus on what they do best – making their customers happy.

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