Tally on cloud is an accounting software that can be hosted in the cloud, allowing businesses to manage their finances from anywhere while gaining scalability, convenience, and security. Choosing a reliable cloud hosting provider is essential, as they must meet the business's needs and security requirements to properly support Tally on cloud. Key features of Tally on cloud include customization, high uptime, platform independence, backup solutions, and more environmentally friendly paperless operations with global accessibility.