Considering the high rate at which the world is becoming more digitalized, CPA firms, accounting firms, and tax professionals keep looking for ways to incorporate advanced security protocols with the computation of financial statements. One such improvement is the use of UltraTax CS to streamline the computation of tax returns and simplify document management systems.
While many accounting professionals and organizations are jumping on this cloud-based professional tax software, underlying issues come with its hosting, especially when hosted on a local server. Problems such as lack of integration and scalability, lesser data security, etc, are eminent when the accounting software is not hosted on a strong and dedicated server.
To find a creative solution to this issue, organizations began to engage cloud service providers to host their tax software. UltraTax cloud hosting is an alternative method of software deployment that allows you to install the accounting application on the remote cloud server of a hosting provider rather than local systems.
Cloud-hosted UltraTax effectively allows you to overcome all the limitations of the traditional on-premise solution. Read on to explore the benefits of UltraTax hosting and how it can transform how you handle tax workflows.
UltraTax hosting, in simple terms, is a situation whereby a hosting provider enables your business to host its UltraTax software on its web server. Various cloud service providers have made the accounting industry benefit from creative solutions aimed at managing their accounting products and software in a high-performing environment.
When you subscribe with a hosting provider to host UltraTax on the cloud, your provider will create a virtual environment with high-performing computing resources to make tax programs and computations seamless. Hosting UltraTax CS software on the cloud lets your business access and use the tax preparation software remotely.
As long as you have the UltraTax hosted in a cloud computing environment, it lets you utilize the power of cloud technology to eliminate the need for office space, an on-premise IT infrastructure, and server infrastructure maintenance. It provides a means for smaller and larger accounting firms’ stakeholders, managers, and staff to collaborate and work together in a virtual office setting. Additionally, the bank-level security that comes with hosting on cloud computing platforms helps protect your confidential business details from cyber threats.
The beautiful Thomson Reuters-owned UltraTax CS comprises a variety of excellent features suitable for the industry standard of finance firms worldwide. Here are the numerous suite features embedded in the UltraTax CS that make it necessary to host it on a cloud environment instead of your local office app server:
Tax: The Ultra Tax CS offers amazing features for tax firms seeking an easy means of computing complex business returns.
Accounting and Auditing: The powerful features embedded in UltraTax, such as Accounting CS, can provide creative solutions that accounting firms require.
Payroll: Larger accounting firms can access UltraTax CS profit-building payroll system with automated features to streamline the payroll process of their staff and that of their clients.
Document Management: The UltraTax CS possesses features and an electronic document management system that allows accountants to access accounting files easily and efficiently. Accountants can create an electronic file cabinet where each file type or flat file is easily accessible for documentation and reference purposes.
Organizational and Workflow Management: The UltraTax virtual office CS has advanced digital monitoring tools that make it feasible for tax firms to control and manage the workflow of individuals.
As accounting and tax firms move into a busy season, especially during the last quarter of the year, they can derive many beneficial cloud solutions from UltraTax hosting. Below are the reasons why hosting this piece of software is a smart move for tax firms:
The inability to make integration/import and export when utilizing UltraTax CS on a local system is one of the most frequent issues CPAs and tax professionals deal with. Cloud hosting the UltraTax CS software removes these constraints by making it easy to share files and work together in real-time with your team.
With a cloud-hosted UltraTax, every authorized or alternative user can access the files stored in the server, thus eliminating the need to send the same file to and fro via emails or having to walk over to your team member to exchange the same file.
The pace of business is constantly changing, regardless of the industry—retail, eCommerce, real estate, IT, or construction. The situation is the same for tax experts. They occasionally maintain a slow and steady workflow. However, they have to work extra hard during tax season to finish computing their clients’ returns and sometimes work extra time to meet the filing deadline with the tax agencies.
These workload variations also necessitate more effective usage of UltraTax. Businesses may frequently find it unfeasible to invest in internal IT resources because of the difficulties of upgrading or downgrading the resources.
CPAs and tax organizations may overcome this difficulty much more easily using UltraTax cloud hosting. Scaling the resources is possible with the use of hosted UltraTax software whenever needed. The majority of cloud hosting companies use a pay-as-you-go form of subscription, thus the cost of UltraTax hosting will depend on how the resources are used. As a result, you can make large savings during the non-tax seasons. Just let the hosting provider know what you need, and they’ll take care of the rest.
When tax firms or personnel travel, they often face limited data access because their UltraTax data is stored on a local server, and this frequently irritates them. These kinds of situations not only reduce output but also make teamwork difficult.
However, because tax professionals may access their tax data from anywhere at any time using any device of their choice, the cloud-based UltraTax CS software greatly increases their productivity. All you have to do is enter your login credentials into the system and you will be able to view all of your data from any location. You may work flexibly and be alert all the time as a result, preserving a healthy work-life balance.
You may find it difficult to finish a laborious process when utilizing UltraTax in a locally-hosted system. For example, manually entering data and then copying it takes time, which interferes with tax professionals’ ability to focus on other crucial tasks. Doing this work for several clients causes lag times and endagers your business reputation.
With UltraTax hosting, you can concurrently update the same file in real-time, doing away with tedious, duplicated chores. Working on a single file allows you to make updates without having to make duplicate entries in different versions of the same file. You can also streamline the file management process using the cloud hosting services provided by UltraTax.
One of the most important things for companies of all sizes is to economize resources. However, when the UltraTax CS is maintained on a local server, more employees must be hired to keep the IT infrastructure maintained, giving rise to a huge capital expense.
Since there’s no need to pay for software installation or upkeep, hosting UltraTax CS software on the cloud is a great way to cut capital expenses. From software upgrades to installation and maintenance, your cloud hosting provider handles it all. It also implies that you won’t need an internal server or IT specialists to maintain it.
The UltraTax program, housed in the cloud, streamlines the tax preparation process. It also guarantees financial growth by enhancing productivity for companies of all sizes.
Maintaining client loyalty and meeting the demands of an increasing workload can be a challenge for any firm. Clients rightly expect accurate tax returns. However, they may not be aware of the added value that a CPA firm like yours can provide. By anticipating your client’s needs and offering strategic insight and advice, your firm will remain in demand and one step ahead of the competition. As a result, your clients will see you as a trusted partner rather than just a tax preparer.
UltraTax CS helps your firm develop deeper client relationships by allowing you to:
From single applications to entire workloads, our UltraTax hosting solution provides your business with the complete Information Technology agility it needs. We make a centralized terminal server available to easily access applications you already own from any computer or device.
It doesn’t matter the size of your firm; we can be the cloud provider that will help with your UltraTax hosting so that you can benefit from increased performance, decreased IT costs, hands-on experience in preparing individual and client returns, and a terminal server environment for effective workflow. Check out our offers today to get started with UltraTax hosting.