In the past, businesses relied on a central server. It was usually located in the office, hosting their line of business software such as their trust account programs. This generally meant a big expensive computer tucked away in a server room (best case) or in a cupboard (worst case).
To connect to the server to access data, each user had to install the matching software on their computer. Sounds simple, yet very inefficient. The process creates complexities of backups, uptime performance, accessibility and reliability issues.
So What is the Cloud?
Cloud-based software takes these issues away from business owners and places it back on the software provider. Internet speeds are increasing. Internet service providers (ISPs) are offering competitive rates to stay on top. Moving to cloud-based software makes sense for business owners.
What are the Benefits of Cloud-Based Software?
For those who need some more convincing, let’s break down the pros and cons of the cloud. Then you’ll truly see the advantage the cloud brings.
- 24/7 access from anywhere using a web browser
- Instant access with zero wait times for software installation
- The software provider performs backups
- Almost 100% uptime
- Unlimited or flexible user licensing
- Inbuilt email or SMS communication
- Always have the latest version of the software
- Scalability – the cloud software will have the same performance for 1 or 100 users
- High security with many software providers using 2-factor authentication
- A reduced carbon footprint and energy consumption without powering an office server 24hrs a day
- Unlimited Storage – no physical server = no lack of storage space
- Reliant on Internet connectivity (but where isn’t there internet these days?)
- Ongoing Monthly/yearly costs (in your subscription fee)
- Fear of security – but, this is as good as the password policy you implement! password123 is probably not the best password. Read our blog on password security.
- Limited control of the data – such as power over timing of backups and maintenance. Your provider handles this (but this also seen as a very big pro point!)
So as you can see, the pros really do outweigh the cons. If you’d like to speak to our qualified migrations team, they can help allay any fears you may have about making the switch.
Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 23 years’ industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.