A tax professional faces many challenges like globalization and ever-changing tax laws when it comes to filing tax returns. Cloud has helped to improve the efficiency of the tax process by providing remote access, scalability, cost-efficiency, and more.

1. 5 Ways
Cloud Technology
Contributes Towards An
Efficient Tax Process

2. 50%
According to Gartner,
by the year 2025
of global companies would move
to cloud-based applications for
their accounting tasks.

3. Problems in Taxation
Tax preparation is a tedious task. Major issues faced by
today's tax professionals include:
Constantly changing tax regulations leading to
complicated taxation process
Globalization leading to loopholes in tax laws
Complexities in the tax process leading to errors in
filing of returns
To overcome these problems, tax preparers need to find
a solution that can improve the taxation process.

4. Cloud Comes As A Rescue
Cloud technology is considered as one of the best
solutions for all the challenges faced by tax
preparers, increasing their efficiency and productivity.
Here are five ways in which cloud can streamline the tax
process:
Global access to the tax data
Team collaboration on a single platform
Security of tax and accounting data
Integration with third-party applications
Scalability of resources
1.
2.
3.
4.
5.

5. Global Access
For easy filing of tax returns, a tax preparer needs anytime, anywhere access to the business data. Cloud
technology can help them work and access data from any remote location across the globe. It has eliminated the
challenges that arise due to the difference in the time-zones in case you have a global team.
Tax software and data, when hosted on the cloud, allows tax preparers to access tax data anytime, which, in turn,
helps to save time. It also eliminates the need for purchasing and installing costly hardware.

6. Team Collaboration
A taxation process needs CPAs, tax preparers, accountants, and all the stakeholders on a single platform to help
them save time and focus on value-added activities. Cloud enables multiple users to collaborate by giving them
the ability to access the same file and make changes to it at the same time.
A cloud-hosted tax software provides simultaneous access of the software to the team. It reduces redundancy and
increases the value of time a professional puts into work.

7. Tax Data Security
Tax data is of the utmost importance and prone to security threats such as malware attacks, accidental data loss,
etc. Cloud is a secure platform, wherein all the data is stored and can be accessed easily from any device.
Moving your tax process or software to the cloud ensures multi-level security which includes end-to-end
encryption, multiple firewalls, IDS/IPS, and regular backups. It reduces the chances of accidental data loss as the
data is stored on redundant cloud servers.

8. Integration
A tax process requires third-party applications such as accounting software (QuickBooks), document manager
(SmartVault), e-signature (DocuSign), etc. for accomplishing complementary tasks. Cloud offers a unified platform
where these apps can integrate with the tax software to have a complete and automated workflow.
These easy integrations increases the functionality of the tax software to automate most of the manual work and
sync the data easily.

9. Scalability
Tax preparation process needs constant upscaling and downscaling of resources. For example, during the time of
tax season a firm might hire freelancers or interns to reduce the workload. This would lead to increase in number
of users and hence, there would be a requirement for more resources.
Cloud Computing helps to meet ever-changing business demands. Scaling of resources is easy and is cost-efficient
as the tax professional has to pay only for what he or she uses.

10. ABOUT US
We provide Tax Software Hosting on superfast SSD-
based servers with 99.999% uptime, 100 days data
backup, and Always-on Support.
Tax Software Hosting
To know more please visit:
www.acecloudhosting.com
or
Call our Solutions Consultant at:
1-855-ACE-IT-UP
www.acecloudhosting.com
Ace Cloud Hosting is a managed service provider for
accounting and tax professionals and the winner of the
User Favorite Awards in Hosting category at Accountex
USA 2016.

11. LIKED THIS DECK?
Check out some other slideshares here...
Follow us for more great content:

12. REFERENCES
Why Your Accounting Firm Should Care About Cloud This Tax Season
-Ace Cloud Hosting
How Cloud is The Best Option for Small Business Growth and Survival
-Ace Cloud Hosting
IMAGE CREDITS
Shutterstock.com