Cloud Based Accounting Software Singapore

Convection desktop accounting software has been around for ages since desktop computers are available, but in the recent years there is a trend many big and small businesses are in the increasingly demand for cloud-based accounting software solutions in Singapore to manage their bookkeeping, payroll, statutory accounts and annual tax returns.

Cloud based accounting software offers a most adoptable business mode similar to your mobile phone line subscription, where the small business pays a small monthly fee on a recurring basis instead of investing high outlay up front in hardware servers investment yet the company’s financial records are securely stored and managed ‘in the cloud’, meaning they can be easily accessed at any time anywhere and from any device (provided there is an internet connection and the correct security credentials are supplied).

Advantages and benefits to host accounting software in cloud / cloud accounting?

  • Affordability and flexible:Do not require huge investment outlay in purchasing servers and data storage, with cloud hosting accounting solution you only require to pay for what you actually consumed and you have the flexibility or option to upgrade the resources as you scale your business.
  • Minimum maintenance cost:In a hosted environment, hosting service provider will handle the hardware and the underlying infrastructure configuration where it is not necessary for you to hire an IT specialist or worry about the downtime and connectivity to the outside world.
  • Easy of accessibility: Your important and valuable data is hosted securely in the cloud, only authorized users can be granted access the application from virtually anywhere, as long as you have access to the internet.
  • Business continuity: Cloud servers eliminate the single point of failure because there is always another hardware node ready to take over from a failing node; any possible downtime is minimized without the expense of having a replica physical server sitting idle.

Benefits of cloud accounting

  • High level of data security  
    – Service is available with 99.5% SLA uptime 
    – Data are automatic backups with updated software and feature  
    – Unlimited data storage.
  • Easy to use 
    – Fast startup almost immediate 
    – Quotes and invoices can be sent instantly
  • Convenience 
    – Manage receivable, expenses, sales and inventory under a single platform 
    – Compliant to latest regulatory statutory updates; hassle free to take care of policy changes 
    – Access business finances data on the move

Selecting Cloud or Dedicated Servers for your accounting software?

Deployment Speed

With cloud servers, you can have resources deploy online within minutes. But a dedicated server will require longer lead time as compare to cloud servers

Security and Compliance

Dedicated hardware is the best solution to provide the highest security where compliance is a great demand. Hybrid cloud allows you combine public cloud with private cloud or dedicated hosting to leverage the benefits of each individual platform.

High Availability

Building a high availability (HA) cloud environment can be very cost effective, configuration is simple and can be achieved in minutes. Building an HA cloud on dedicated infrastructure with load balancers can a much longer time to configure.

Access to Tools

In a cloud environment, the provision of community-driven APIs is often available for automatic scaling and management. In a dedicated environment, the waiting time is not certain it depends on the efficiency of vendor-driven development.

Compartmentalization

The cloud enables compartmentalization of resources for individual function which is easy in scalability, management and resource segmentation. This type of compartmentalization can be costly with dedicated hardware.

Monitoring and Support

Cloud servers’ vendors provide monitoring, alerts and support are available 24hrs. This set up in providing deep technical support for dedicated on premises environments is more complex, and vendor-specific technical support can be very costly.

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