Many accounting and auditing firms are utilizing cloud computing to improve business efficiency and productivity. And through cloud-based accounting solutions, they are finding it easier to prepare and examine financial records.

While they are similar to traditional desktop accounting software, cloud-based tools are packed with these benefits:

#1. Flexibility
With desktop-based accounting programs, your software, data, and accounts are saved to a local drive, which means you can access these only on a particular computer.

Hardware-as-a-Service (HaaS) is a managed service similar to its more popular counterpart, Software-as-a-Service (SaaS), a service provision model where software is purchased for a monthly subscription fee instead of the traditional “upfront” basis.