Excited about the upcoming tax season 2023 but unsure if you should continue using Drake Tax software in the local-hosted environment?
Sometimes business owners like you feel like they should validate their decision of switching to an alternative business application as per market trends. You want to know if other tax preparers are also making the same or similar moves to upgrade their businesses. Whether it is your own reassurance or the external validation, it is quite important to decide how you would want the tax season to end – with more clients and higher revenue or similar tax-related complications of current clients.
If you have plans to grow your presence as a tax professional, it’s time to set yourself up for success with the power of Drake Cloud.
Wondering how your Drake Tax software can be backed by the power of cloud computing?
Indeed, Drake, as a leading tax software, enables CPAs, business owners, and individual tax preparers to simplify various tax-related tasks. It has been designed with powerful features like Drake Scheduler, Drake Tax Planner, and others that are quite beneficial for your day-to-day work activities. However, the desktop version of this software may restrict you from availing of benefits like top-notch data security, software access during non-business hours, and timely filing of tax returns on the go.
You can shatter these restrictions with ease with the help of Drake cloud hosting. In other words, hosting your licensed Drake Tax software can make you unleash the full power of this tax software.
Read on to find out what hosted Drake software can do for your business.
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Table of Contents
24×7 access to Drake software
It would be fair to say that the benefits you can avail of using Drake tax software depend on the period for which it is accessible to you. For most businesses having Drake hosted on local computer systems, this period is limited to business hours. I.e., 9 a.m. to 5 p.m. or 6 p.m. max. The more team members using Drake software for tax preparation, the more work you can get done for your clients but during business hours only.
With Drake Tax hosting, you can work beyond business hours with ease and have access to the software regardless of the time or location. Besides this, you need not depend on a specific device to access the Drake cloud. Once the software is hosted on the cloud server, you can use it via any preferred Internet-connected device. Such easy Drake accessibility will be quite helpful in dealing with the tax season.
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Data recovery post the occurrence of unforeseen events
Irrespective of the business type, the sword of natural or man-made disasters is always hanging on the neck and can be quite fatal. Earthquakes, fires, or even unmanaged man-made errors cannot be predicted nor can you gauge their impact. But their aftermath could be quite damaging for an accounting or taxation business that handles a big chunk of the financial data for various clients. Loss of data to the extent of no recovery can lead to loss of clients and even business reputation.
The possibility of facing these situations will not stop you from being a tax professional. What matters is how you prepare for such events. With Drake cloud hosting, you can shield the business against such unpredictable events.
Renowned Drake tax hosting providers like Ace Cloud Hosting ensure data replication on multiple servers across different geographical locations to mitigate the risk of data loss. In case any server crashes due to a natural disaster, the other server will take charge to help you retrieve the data.
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Best-in-class data security measures
When you handle sensitive financial data that primarily belongs to your clients, you need to ensure it is well-protected when handled by you. If you have been working on Drake Tax desktop software for a long time now, you would agree that unchecked security parameters can also lead to data loss, similar to natural disasters.
It’s the value of business-critical data that makes cyber attackers interested in it. The more important the data is, the higher the risk of frequent cyber attacks and unauthorized intrusion will be. Handling the security side of tax-related data can become a source of worry besides dealing with clients and taxation complications. Like most tax professionals, you might not be in a position to invest a significant amount just for data security.
To prevent the aforesaid, cloud-hosted Drake seems like the ideal solution you need. You can partner with a renowned cloud hosting provider that promises security parameters like antimalware, antivirus, and multi-layered firewalls for comprehensive security benefits.
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Higher operational savings
One common financial concern most tax professionals and SMBs face is not having enough funds to set up, maintain, and upgrade the required in-house IT infrastructure. As a service provider dealing with taxes for clients, you may not want to invest too much in secondary aspects such as IT infrastructure. Also, when not utilized efficiently, having the infrastructure will feel like eating your profits. On the other hand, IT setup also requires technical expertise for regular upkeep and maintenance, which means hiring in-house professionals alongside.
A simple alternative to having a dedicated in-house server setup to host the Drake application and data is the Drake cloud. The cloud-hosted Drake software does not require any upfront investment in hardware, security, setup, and maintenance. Your Drake cloud hosting provider will take care of all these aspects, hence helping you save money. In case you face any issues with accessing cloud-backed Drake Tax software, you can seek immediate help from your hosting provider.
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Multi-user collaboration
As you might guess, every tax season requires tax professionals and CPA firms to increase their manpower in order to deal with work-related demand. You might have done that too while sustaining your business in the previous tax seasons.
While working on local-hosted Drake Tax software, you need to understand that an outdated system won’t do much good even if you have a bigger team to work for your clients. For instance, if every tax file is to be passed from one team member to the next via email, the effort and time it takes would be quite significant with a large team.
Drake cloud is the alternative that can resolve such woes related to working in a local-hosted environment. It enables seamless collaboration between various team members to ensure error-free tax calculations and correct filing of tax returns. Also, the individuals in your team can work from anywhere and collaborate effectively without having to visit the office premises.
More About Drake Add-Ons Support with Cloud Hosting
The benefits of Drake tax hosting are not limited to the ones detailed above. To add more value to your tax services, you can also integrate various popular Drake add-ons with your cloud-based Drake software and meet additional requirements of the tax filing process. These include:
| Drake add-on | Benefits |
| QuickBooks | For automation of data entry by importing financial data and reports into Drake software |
| SecureFilePro | For secure sharing of confidential documents with your clients |
| SmartVault | For secure and easy document storage on the cloud on a single platform |
| Drake Accounting | For management of financial records with double-entry accounting |
| eFileCabinet | For organizing documents using zonal OCR |
Drake cloud hosting paired with powerful add-ons will improve its functionality, thereby allowing you to be prepared for the tax season 2023. Before the season begins, make sure you hire a renowned cloud solution provider.
