How Can ProSystem fx Tax Hosting Improve Your Tax Workflow Process?

ProSystem fx Tax is a tax compliance and preparation software used by a majority of accounting firms and businesses. An integrated tax and workflow solution allow firms to build opportunities for additional revenue, enhance client relationships, and increase efficiency and accuracy.

ProSystem fx Tax software hosting is one such solution. When ProSystem fx Tax software is hosted on the cloud, you can manage your accounts in real-time and prepare taxes efficiently and quickly.

Below are some more benefits offered by ProSystem fx Tax software hosting.

1. Anytime, Anywhere Access to Your Tax Data

Tax professionals and CPAs love the freedom they get when they are able to access their tax software anytime from anywhere. Tax season is a stressful time for professionals charged with accurately and wisely handling client’s taxes.

The ability to access your data from multiple locations is crucial as it offers you more flexibility when there is pressure to file the returns. With hosted ProSystem fx tax software, you can access the software from anywhere with an Internet connection. This is also important as you don’t have to worry about taking the files home. Instead, just log in to your account and get the updated data just as you left it in the office.

2. Cloud Makes Collaboration Easier

It is likely that multiple CPAs or tax professionals are working on the same files while located at different locations. With the traditional method, they need to send files over emails back and forth. This may result in duplication of files and the possibility of errors.

Moreover, it also consumes a lot of storage space. However, hosting of the software makes collaboration among different users easier. Also, you wouldn’t need to exchange emails or install the software on a local machine.

Another benefit of ProSystem fx tax hosting is that it saves a lot of time involved in traveling or meeting in person, as all the concerns can be discussed on the same cloud.  Therefore, when almost 25% of each meeting which lasts for an hour is wasted, cloud technology can be a huge productivity booster.

3. Better Security of Your Tax Data on The Cloud

One of the major concerns among tax professionals or CPAs when moving their data to the cloud is security. However, the risk is more if your ProSystem fx Tax software is installed in-house and you don’t use security methods such as firewall, password protection, and anti-virus.

When ProSystem fx tax software is hosted on the cloud, there are many security measures that are implemented by the third-party cloud providers. In order to provide complete security, they use SSAE (Statement on Attestation Engagements) No. 16 compliant data center services.

With other security measures such as firewall, encryption, multi-factor authentication, and access-control, cloud providers make sure that your data is hosted in a safe and secure environment free from malware, ransomware, and viruses.

4. Backup and Disaster Recovery

Tax data is valuable for every tax professional. If your data is hosted on a local server, there are risks involved such as data theft or damage to the system. One of the solutions to this would be to take regular backups.

But, taking backups manually may result in humanoid ignorance and would also consume a lot of time. Also, taking backups on the same site is worth nothing in case of any unwanted damage to the site.

On the other hand, with ProSystem fx Tax software hosting, the hosting providers offer you with automatic backups. As these backups are stored in different locations, you are ensured that the tax data is recoverable whenever you need it. All you need is an Internet connection to login to your account.

5. Reduced IT Costs with ProSystem fx Tax Hosting

For small and medium tax firms, hiring IT professionals can lead to heavy expenses. To stay updated with the rapidly changing technology, they may need to upgrade their IT infrastructure and keep bearing the expenses.

However, by hosting ProSystem fx Tax on the cloud, you don’t need to install the software on your system, as it is installed and run on your cloud provider’s servers. This makes it independent of local system requirements, as you don’t need to regularly upgrade your infrastructure. You can easily avoid hardware and maintenance cost. All you would need is a portable device which connects to the Internet to connect to the cloud.

Give Your Business A Competitive Edge with ProSystem fx Tax Software Hosting

Do you want to stay ahead in the competitive world with an easy step?

Moving your ProSystem fx Tax software to the cloud is one such step.

Previously, it used to be the bigger, the better, when it came to business. However, with technological advances, this gap is now closed. Small companies are now on an even playing field, doing even better than the big players in the market.

If you look at the statistics, cloud technology remains one of the fastest growing technologies among SMBs, with 78% of SMBs expected to adopt the technology for their business practices by the year 2020.

As your teams can have the ability to access, edit and share their tax files or documents anytime from anywhere on the cloud, they can do more together and do it better. Moreover, as the ProSystem fx Tax software on the cloud is set on pay-per-use subscription, companies only have to pay for the resources they use. This provides flexibility in services and more customization within dashboards.

With better access to enterprise-class technology, small accounting firms can think clearly and act faster than the established corporations, while remaining cost-effective and transparent at the same time.

So, being a small firm can actually be an advantage. With ProSystem fx Tax software hosting, you may not only be able to compete with big companies on scale, price or options, but you can also show your clients why your firm is the best choice for them.

Have you opted for ProSystem fx Tax software cloud hosting? Do let us know in the comments section below.