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Five challenges of cloud data accounting and how to overcome them

by , 16 April 2015
Before we talk about challenges when using cloud for managing data, let's look at what cloud means in the management system of storaging documents.

What is cloud data accounting?

When we talk about cloud, we mean the storage of documents on a remote online server.

The cloud is a way for you to access and share data, information and computer software between users accessible over the Internet. The software is accessible online through any device with internet connection, including a computer, iPad or Smartphone. In the cloud, there's no need to install and run applications on your computer.

In addition, cloud-based accounting refers to a web-based programme with the accounting software you need. For this, you don't have to physically install the programme on your computer. You simply go to the website, login with your username and unique password and start capturing or processing online.

This means that it gives you real-time access to your financial information. This enables you to run your business better, from anywhere in the world, with access to the internet, and have more control of your finances

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Here are the five major challenges you might encounter when using cloud accounting for your data:

1. Note that in case you don't have Internet, you can't access your information or use your computer software. This shouldn't be a major issue. These days you can easily get a 3G card or access Wi-Fi from a coffee shop.

2. Another Internet-related topic is that the speed of the Internet also affects your ability to access your information and software quickly. Make sure you get a good connection to transact with ease.

3. Pay attention to the fact that it might be expensive to move to the cloud if you've already obtained all your software licences, software and hardware. This is because you incur these initial layout costs upfront. You can decide to move your desktop to the cloud.

4. Also, if the cloud service provider isn't secure, there's a possibility your information can be hacked. Use recommended, well known service providers to solve this problem.

5. Note that if your password's not good enough, you run the risk of your account being hacked. Make sure you follow good password protocols to secure your account. Change your password regularly and keep it safe.

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