The remoteness and globalisation of Internet applications has just got even more advanced. Loosely speaking, cloud computing is a term that applies to the various aspects of computer services (hardware, software, storage, networks etc) that are grouped together in a ‘cloud’ so that they can become accessible from any computer, laptop and mobile phone wherever and whenever necessary. There are public, private and community clouds, but they all do the same thing; provide flexible and easy access to remote computer resources and IT services.

These characteristics are beneficial to many industries, not least accountancy. There are four main branches of cloud computing, but the one benefiting accountancy is Software-as-a-Service (or SaaS) which is able to offer financial-based software that can ultimately make accountancy more cost-efficient for all involved.

There is no doubt that SaaS software is innovative and may take a bit of getting used to. But as other methods of book-keeping become popular within companies who are looking for cheaper alternatives to balancing their books (DIY book-keeping software, for example), cloud computing is benefiting both parties. Real-time business facts and figures which can be accessed remotely through these clouds enable accountants to deliver advice and options almost instantaneously.

Another important factor when considering hiring an accountant is also cost efficiency. As Software-as-a-Service’s name suggests, it is a pay-as-you-go service that relies on a monthly subscription which is then dependant on how much or how little involvement there is, from simple book-keeping to more advanced consultancy services.

Benefiting clients, the subscription costs usually start very low and this practice also eliminates, for example, the need to set-up hardware and the need for in-house professionals to maintain hardware and servers because they are looked after by the cloud application providers in a remote location. For accountants, SaaS subscriptions offer them a regular, monthly income and enhanced business opportunities from those who are unable or unwilling to hire a more traditional accountant.

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