In the IT Realm, a question arises up almost every day- which type of business accounting software is best to use? Almost every day, there is a debate on cloud vs. on-premise applications. With cloud-based solutions increasingly becoming popular than ever before, recent reports indicate that almost 70% of US firms and companies have invested in private cloud solutions. However, there are still many companies who have preferred to deploy their software solutions on-premise rather than cloud-based.
Although, there are many benefits of cloud inventory management over on-premises services, but without proper considerations, it may not be easy to decide the best for a certain type of organization? Now, as both the options offer unique benefits and advantages, here are a few points to help you out and make the job a little easier for you –
- Deployment – The basic difference between both the accounting solutions is the storage. In on-premises, all the applications and information are stored on-site or on the user’s computer whereas, in cloud-based applications, the information and solutions are stored in cloud infrastructure over the internet at the service provider’s data center. In an on-premise deployment, all the server management responsibilities either remain on the shoulder of the business itself or to the outsourced service provider which means an extra cost of management.
- Data Security – This is one of the biggest concern and very crucial for any business. With an on-premise system, the responsibility of data security is on the shoulders of the company. Keeping data secure demands several measures such as installing firewalls and antivirus programs, securing a private network, manual data backup process and restricting access to the server room. On the other hand, in cloud-based solutions, the cloud software service providers implement robust security measures and procedures which make cloud-based accounting software is a more secure option than on-premise systems.Basically, this works like insurance for the cloud-based solutions where they pool the risks and deploys the best security solutions.
- Access – Although, it is possible to access on-premise systems remotely from an off-site computer, but you need an additional technical setup, including an installation of a terminal server onsite to do so. Even though these conventional systems including well-known accounting solutions promise to run on a static IP they offer limited data access whereas, in cloud-based systems, you just need a secure login and can access it from anywhere in the world at any time, as each information is deployed online. For example, Alignbooks cloud-based financial software and tools help you access it through your Mobile, Laptop or PC in whichever mode you feel comfortable.
- Installation and infrastructure requirements – On-premise solutions require some hardware to access which typically includes a data server, additional/backup servers, a terminal server, computers with a compatible operating system, network cards and hubs, and backup hard drives, etc. Now, these technical requirements can add considerable cost to implementation and maintenance while in cloud-based systems, the software and almost all technical resources are housed and looked by the vendor itself. The entire thing which you require to access is a desktop, laptop, mobile or tablet and a secure internet connection. Alignbooks finance mobile app is one such example.
- Cloud Accounting Software foster collaboration and better application delivery. The businesses using it have experienced easier application management, and are enjoying faster application deployment.
Lastly, if you observe, cloud-based management systems are far better than on-premise and other conventional accounting systems in terms of data backup, data security, access, etc. So, being affordable, easily accessible, safe and secure, the cloud-based accounting software eliminates various technical concerns and enable you to function in a hassle-free way.