‘Cloud computing’ has been used a lot lately to describe a myriad of online services and computing capacity that resides somewhere ‘out there’.

According to the official National Institute of Standards and Technology (NIST) definition, “cloud computing is a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction”.

In its most basic form, cloud uses the internet as a business or consumer platform. Cloud includes well-known internet-based services like Gmail and Hotmail, but also Google Docs and Apple’s iCloud.

In cloud computing, users access software applications remotely through the Internet or via a cloud application service provider. Using cloud computing software frees the business from having to install and maintain software on individual desktop computers and/or servers.

Cloud accounting software is accounting software that is hosted on remote servers off site from your location. Your information and data is sent into “the cloud” where it is stored and maintained on behalf of your business. Most accounting application providers typically charge based on usage – compared to software license fees associated with traditional accounting software programs. Data backup and disaster recovery are included as part of your cloud computing accounting software account.

One of the greatest opportunities available to businesses today is to take advantage of the power of the cloud. Talk to us to find out how the advancements in cloud based accounting solutions provide real time information and solutions for your business.