March 29, 2023

Is Managed Cloud IT Right for Your CPA Firm?

Managing a cloud infrastructure can be complicated and time-consuming for businesses, including those in the CPA industry. Many businesses are turning to managed cloud services to help them manage their cloud environments more efficiently. These services have several advantages: improved security, reduced downtime, and greater flexibility. 

The managed cloud services market is expected to continue its growth trajectory in the coming years, driven by factors such as the increasing adoption of cloud-based solutions by businesses of all sizes, the need for cost-effective IT infrastructure management, and the rising demand for customized cloud solutions. According to a report by MarketsandMarkets, the managed cloud services market is expected to grow from $99 billion in 2022 to $164 billion by 2027, representing a CAGR of 10.6%. The increase in results is driven by the increasing adoption of cloud computing across various industries and the need for companies to enhance the efficiency of their cloud environments. 

The continued growth of the managed cloud services market suggests that many businesses find value in outsourcing their cloud infrastructure management to experienced service providers. This article will explore the benefits of managed cloud services for CPA firms and other businesses to help you determine whether a managed cloud fits your organization.

Understanding Different Managed Cloud IT Providers

Managed IT service providers have become increasingly popular recently, as they provide various services that enable businesses to outsource their IT infrastructure and software needs. They take responsibility for maintaining and updating their clients' hardware and software systems. Managed service providers often offer a range of cloud-based services, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).

IaaS providers offer the underlying hardware, such as servers and storage, necessary to host cloud-based applications. IaaS allows businesses to avoid purchasing, maintaining, and upgrading expensive hardware while maintaining access to high-performance computing resources. PaaS providers build on IaaS by providing a complete development and deployment environment for custom-built applications. It means that businesses can develop and deploy their applications more quickly and cost-effectively than if they had to build and maintain their IT infrastructure. Alternatively, SaaS providers offer fully functional software applications over the internet, allowing clients to access and use the software as needed. It eliminates the need for businesses to purchase and maintain software licenses and provides access to up-to-date software with minimal IT overhead.

Managed IT service providers offer several advantages over traditional IT infrastructure. For example, they allow businesses to focus on their core competencies and leave IT infrastructure management to the experts. This can help reduce IT costs, increase efficiency, and improve security. Additionally, managed service providers often have more robust security measures than most businesses could achieve independently. It is because they have dedicated teams of IT professionals focused solely on maintaining and securing their clients' IT infrastructure. Furthermore, managed IT service providers offer scalability, meaning that businesses can easily adjust their IT infrastructure and software needs to match their changing business requirements. This flexibility can be valuable for CPA firms, which often experience fluctuations in workload and client needs throughout the year.

In summary, managed service providers offer a range of benefits for businesses, including cost savings, increased efficiency, improved security, and scalability. As such, it is worth considering whether these managed services suit your CPA firm.

Benefits of Managed Cloud IT for CPA Firms 

Managed IT service providers offer cloud computing services to businesses and organizations. They work and maintain clients' cloud infrastructure, including servers, storage, and networking, and ensure security and compliance. 

Managed service providers can also greatly benefit CPA firms. As CPA firms often handle sensitive financial data and must comply with strict security and privacy regulations, having a secure and reliable cloud infrastructure is essential.

Below are the benefits providers can offer to CPA firms:

  • Increased security: Managed cloud service providers can implement strong security measures to protect against cyber threats and data breaches. This can include multi-factor authentication, encryption, and intrusion detection and prevention systems.
  • Compliance management: Managed cloud service providers can help CPA firms ensure compliance with industry-specific regulations such as the Sarbanes-Oxley Act, the Gramm-Leach-Bliley Act, and the Health Insurance Portability and Accountability Act (HIPAA).
  • Improved efficiency: By outsourcing IT infrastructure management to a cloud-managed service provider, CPA firms can automate their resources to focus on core business activities such as accounting, tax preparation, and financial planning.
  • Scalability: Managed service providers can offer scalable infrastructure solutions, allowing CPA firms to scale their IT resources up or down as needed quickly.
  • Technical support: Many managed service providers typically offer 24/7 technical support to help CPA firms resolve issues with their cloud infrastructure quickly and efficiently.

Managed IT service providers can offer CPA firms a secure, compliant, and scalable cloud infrastructure, freeing their resources to focus on their core business activities while ensuring that their IT infrastructure is reliable and efficient.

Deciding if a Managed Cloud Solution is Right for You

Managed cloud services can be an excellent option for CPA firms looking to streamline their IT infrastructure and improve their overall efficiency. However, the question of whether a managed cloud system is right for your firm depends on various factors, including your business needs, budget, and existing IT setup.

Here are some key considerations to keep in mind when evaluating whether a managed cloud system is a good fit for your CPA firm:

  • IT expertise: If your firm lacks the in-house expertise to manage your IT infrastructure effectively, managed cloud services can be a good option. With a managed cloud system, a third-party provider handles everything from hardware procurement and maintenance to software updates and security patches, freeing your team to focus on more strategic tasks.
  • Scalability: Managed cloud services offer high scalability, making it easy to adjust your computing resources up or down as your needs change. It can be crucial for CPA firms that experience fluctuations in workload throughout the year.
  • Cost: Managed cloud services can be more expensive than managing your IT infrastructure in-house, but they also offer many cost-saving benefits. For example, by leveraging the economies of scale that come with cloud computing, managed cloud providers can offer lower hardware and software costs than would be possible for a small or midsize CPA firm to achieve on its own. Additionally, there is no need for extra office space, and additional in-house IT staff needed to support your growing business.
  • Security: Data security is a top concern for CPA firms, and managed service providers typically offer a range of security features and protocols to protect sensitive financial information. However, it's essential to thoroughly vet any potential providers to ensure they meet your firm's specific security requirements.
  • Level of Support: The quality of support you receive from an IT provider can make or break your relationship and potentially impact your customers. With a cloud hosting solution, you should expect senior-level support. This allows you to have access to more resources and expertise than your own internal IT staff. Your managed services provider should not outsource or have tier-level support based on your company size. Managed support should be the same for a small-level start-up as it is for an enterprise-level company.

In general, if your CPA firm wants to improve its IT infrastructure while reducing the burden on its internal IT team, managed cloud services can be a great option. However, it's essential to carefully evaluate your business needs and the costs and benefits of cloud-managed service IT before deciding.

How Cetrom Can Help

Managing IT infrastructure can be daunting for CPA firms, but Cetrom can help ease that burden. As a leading provider of cloud-based IT solutions, Cetrom has a long history of hosting accounting software and auditing tools for CPA firms. With a robust cloud hosting solution, firms can have 24/7 access to all audit and accounting data from anywhere, on any device. It can save valuable time that would otherwise be spent on maintaining and updating servers, freeing up time for more strategic tasks like audits.

Cetrom offers advanced audit tools and other features to help firms meet the exacting standards required by today's financial industry. All solutions are flexible and scalable, which can grow with your firm as needed. With access to the most up-to-date technology through reputable vendors, you can be confident that your firm always uses the best tools available.

With Cetrom, all that and more is possible. With our expertise and solutions, you can focus on providing high-quality financial services to your clients while leaving the IT management to the experts.


Contact us today to learn more!

 

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