Should Your Accounting Firm Use Drake On-Premise or In The Cloud?

Drake Tax software is preferred by many tax professionals, preparers, and CPAs. It streamlines tax filing and also offers audit tax reports. But if you are using it on a local desktop, you will face some restrictions.   

For example, let’s talk about data accessibility. You have a situation where you need to complete a task urgently. But your best tax preparers are on vacation. You contact them for their guidance, but they don’t have access to the locally installed Drake Tax software. Thus, they won’t be able to help, and your task will take more time.   

You can overcome the drawbacks of on-premise Drake Tax software by hosting it on the cloud. Let’s explore how! 

What Does Drake Tax Software Hosting Entails?  

Cloud hosting services allow you to access data and applications over the internet. In Drake Tax hosting, remote servers are used to install the software. These servers can be your own, or you can go with a third-party hosting provider. You will have to pay a monthly or yearly subscription fee per user if you choose a third-party provider. Hosted Drake tax solution from a hosting provider offers many benefits. You can scale up on business demand, ensuring that your organization only pays for the actual usage.   

Since you have become familiar with Drake software hosting, why don’t we scrutinize it over its on-premise counterpart:  

1. Remote data access 

The need to access tax data may occur at any time. Drake Tax software hosting enhances data transparency and accessibility. It enables tax professionals to access their data anytime from anywhere. Business owners can then make decisions on the go and improve their productivity. Also, these days, employees and business owners prefer working from home. It helps save time and cuts costs on transportation.   

Unlike on-premise Drake Tax software, its access is not limited to any device. Furthermore, the on-premise Drake software is not remotely accessible. It does not provide round-the-clock remote access. You must depend on the availability of that particular device on which it is installed.  

2. Security capabilities  

Tax professionals deal with a huge volume of confidential financial data. In the wrong hands, the data can damage your clients’ financial integrity. This could tarnish your market value and reduce your customer influx. However, Drake Tax hosting from a reputed hosting provider helps you mitigate such incidents. They deliver high-end security via TLS 1.3-based data encryption, Intrusion Detection and Prevention, anti-malware, antivirus software, multiple firewalls, etc.   

All their data centers are SSAE-16 certified Tier 3+ class, ensuring quality security assurance. On-cloud Drake software has centralized system management. Just deploy it once, and it protects the entire network.    

On the other hand, deploying the same measures on on-premise Drake software is costly and infeasible. You must individually deploy security tools on each system within your IT infrastructure.  

3. Team collaboration   

Drake Tax hosting simplifies collaboration between tax professionals. It allows them to remotely access data. This way, they can work together and access their documents without even being at their workplace. With Drake Tax hosting, you just share access to that particular file. Changes are reflected instantly. Everything is centralized, with everyone accessing the same version of the file. This coordination allows tax professionals to work more productively.  
In the on-site Drake Tax software, you must repeatedly exchange the data. Team members cannot make changes simultaneously. They must wait to receive the edited data from others. This slows down the process and leads to delayed task completion.  
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4. Disaster management  

Data can be lost or compromised for different reasons, such as human errors, hackers, etc. If you have anti-hacking tools for cyber-attacks, what about a natural disaster? Backup is the first step towards recovering from such incidents. 

A reputable hosting provider backs up your data in multiple data centers. This level of disaster preparedness ensures continued data access even if a server permanently goes down. You will be connected to another server in no time.   

But on traditional on-premise Drake Tax software, it is difficult to implement such measures. You must maintain multiple backup centers to preserve your data. However, that is costly and requires considerable technical expertise.  

5. Performance levels  

A tax professional doesn’t solely rely on Drake Tax software. They also integrate different add-ons, which help them complete other work-related tasks. For example, you may incorporate a time-tracking add-on that you can use for calculating the time spent while working on specific tasks accurately.  

However, most on-premise systems lack high-performance processors. You can integrate multiple add-ons. But only up to a specific limit. After that, your system will start slowing down with each additional integration.  

Drake Tax hosting from a reputed hosting provider is different. They understand your needs and use HPC servers. You can integrate any number of add-ons such as QuickBooks and still experience fluid system performance.   

Conclusion  

Drake Tax software hosting is a clear winner compared to Drake on-premise. It creates a unique environment for tax professionals. Remote tax data access, high-performance computing, and better team collaboration are some unique offerings of Drake Tax hosting.   

Want to know how Ace Cloud Hosting can help your business grow with Drake Tax hosting? Get in touch with our Solutions Consultant by clicking the chat button below.