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Tax & AccountingJanuary 03, 2025

Why cloud technology is more reliable than you think

By: Wolters Kluwer Tax and Accounting
In the rapidly evolving digital landscape, misconceptions about cloud technology still persist. One prevalent myth is that cloud technology is not reliable. It’s crucial to recognize that the myth of cloud unreliability is outdated because this belief can prevent accounting firms from fully leveraging the benefits of the cloud. Let's explore this myth and the reality behind cloud reliability.


Understanding the concerns about cloud reliability

The belief that cloud technology is unreliable often stems from concerns about data accessibility and system uptime during emergencies or critical periods. Firms worry that relying on cloud services might leave them vulnerable to outages, data loss, or other disruptions that could impact their operations. While these concerns are understandable, they do not reflect the advancements and measures taken to enhance cloud reliability.

Reality: Cloud technology is designed for high reliability

Today’s reputable cloud providers are committed to delivering reliable services. They invest heavily in infrastructure, redundancy, and disaster recovery measures to ensure high reliability. Contrary to the myth, cloud technology has proven to be exceptionally reliable - even during critical times. Here are three key reasons firms should be embracing cloud reliability:

  1. Data protection: Advanced backup and recovery solutions protect data from loss, ensuring business continuity. Cloud providers continuously monitor their systems for potential issues and perform regular updates to enhance security and performance. This proactive approach helps prevent problems before they occur and ensures that firms always have access to the latest technology. The constant vigilance and maintenance provided by cloud providers contribute significantly to the overall reliability of cloud solutions. 
  2. Improved connectivity: Modern cloud solutions are designed to work efficiently even in environments with varying internet connectivity. Many cloud providers often employ multiple data centers across different geographic locations, ensuring that if one center experiences an issue, others can take over without interruption. This distributed architecture enhances the reliability of cloud services, making cloud services more dependable than many traditional on-premise systems. 
  3. Enhanced uptime: Leading cloud providers ensure high availability through redundant infrastructure and SLAs, minimizing the risk of downtime. Cloud solutions are designed with redundancy and failover mechanisms that ensure data and applications remain accessible even during adverse conditions. For instance, during a recent hurricane in Houston, many firms relying on traditional on-premise systems experienced significant downtime. In contrast, firms using CCH Axcess™ cloud-based solutions were able to resume operations as soon as internet connectivity was restored. Melissa Knox, an audit partner at JC CPAs and Advisors, says:
It's unmeasurable to have an entire week of work that my firm was able to do where other firms were not. We've had lots of natural disasters hit us in the last few years. In the last hurricane that happened, I have lots of friends that also own practices and they were out for days. I was up the next day as soon as I had internet connection again.
Melissa Knox, Audit Partner, JC CPAs and Advisors

The power of the platform: Integrating reliability with performance

Leveraging cloud technology is not just about reliability. It’s also about harnessing the power of the platform to achieve superior performance and efficiency. For CPA firms, having integrated audit, tax and firm management workflows is invaluable and can help firms achieve high levels of performance and operational excellence.  Some benefits include:

  • Centralized management: A unified platform allows for centralized management of data and applications, enhancing visibility and control.
  • Seamless integration: Cloud platforms like CCH Axcess™ integrate seamlessly with other tools and systems, reducing complexity and improving efficiency.
  • Growth and adaptability: When a firm's expansion evolves alongside a powerful cloud platform like CCH Axcess, it maintains consistent reliability and performance as needs incease.

Wolters Kluwer’s CCH Axcess™ Audit – Cloud Audit Suite stands out as a reliable choice. This advanced cloud technology ensures seamless, secure, and cost-effective processes, empowering firms to focus on their strategic growth. The power of the CCH Axcess platform lies in its comprehensive integration of accounting, audit, tax and firm management solutions, providing an integrated approach that enhances accuracy and efficiency. This integrated system not only streamlines workflows but also delivers valuable insights, helping firms make informed decisions and drive success.

Conclusion: Cloud reliability is a reality, not a myth

The belief that cloud technology is unreliable is a myth that can hinder firms from fully leveraging modern technology. In reality, cloud solutions offer robust reliability measures, ensuring data and applications are always available. By embracing cloud technology, organizations can achieve both reliability and operational excellence, positioning themselves for success in today’s digital landscape. Cloud solutions provide high availability, robust performance, and exceptional flexibility, even during critical times. This enables firms to ensure seamless operations, enhance agility, and achieve greater efficiency and cost savings. As the digital landscape continues to evolve, the strategic advantages of cloud technology will only become more apparent, making it an indispensable tool for firms.

 

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy.

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