Cloud technology has become an essential component to run the tech stack for various types of businesses. Being a new-age way to share and store data, it has paved its way into the tax and accounting industry that involves business-critical data. Many tax firms, especially the ones using Lacerte tax software, now feel compelled to embrace the benefits of cloud hosting.
With the ongoing mass adoption of cloud hosting, the result is expected to define some of the most transformative tech trends of the decade. Experts believe cloud hosting to become an enabler for even deeper cloud penetration into the tax industry. Let’s look at the rundown of some of the predictive trends around Lacerte hosting in 2023 and ahead.
Top 5 Lacerte Hosting Trends to Look Out for in 2023
1. Higher investments in cloud security
Migrating Lacerte tax software to the cloud does bring many opportunities, convenience, and efficiencies to tax firms. However, on the flip side, it also exposes both cloud solution providers and their clients like you to a wide range of security threats. Moreover, there is a growing list of legislation around the strategy to store and use personal data within a certain geographical parameter.
As a result of it, global spending on cybersecurity and developing resilience against data loss is expected to become more of a priority. Amidst the current financial ups and downs in the global markets, organizations would emphasize adopting innovative, cost-efficient Lacerte hosting solutions to get the most bang for the buck.
2. Rising Popularity of Multi-Cloud Solutions
The size of the global cloud computing market was estimated to be $545.8 billion in terms of revenue in 2022. If 2022 is to be considered a significant year in terms of cloud adoption, then 2023 could be the period when businesses get to understand the benefits of diversifying their requirements across several cloud providers. This may mean hiring multiple cloud hosting providers for different applications.
Market analysts believe that this trend can prevent organizations from being too tied to one cloud solution. It can otherwise create challenges when cloud solution providers stop supporting specific applications. For instance, if you hire one service provider for both Lacerte cloud hosting and Quicken hosting, you may suffer in case the service provider halts supporting the Quicken application on the cloud.
3. Cloud Solutions Powered by AI and ML
Artificial Intelligence (AI) and Machine Learning (ML) are next-gen technologies advancing toward becoming a part of diverse business needs. Since most businesses cannot afford to build private AI infrastructure, AI and ML-based solutions are expected to be available via the cloud.
When you look at it from the other side, collecting data and creating algorithms asks for significant computing power and data storage capacity that is often more cost-efficient when offered as a subscription. Over time, various cloud solution providers have started investing in AI themselves to manage distributed networks, regulate data center operations, and deploy cyber security solutions.
In 2023, you can expect to witness consistent innovation in the field of AI and ML for developing more efficient cloud services.
4. Increased Preference for Disaster Recovery
The loss of data beyond the extent of recovery can be quite damaging for tax professionals and firms, particularly when the data includes the financial information of different clients. Keeping such data safe and secure in an on-premise environment would require hefty upfront investments. This is one of the reasons why Lacerte software users switch to Lacerte hosting.
When backed with cloud hosting, disaster recovery mechanism becomes easy to deploy and avail. It gives businesses the capability to restore critical data in the event of natural or man-made disasters. On account of the financial implications of severe data loss, the inclination toward disaster recovery via the cloud is expected to increase further this year.
5. Continued Hosting Pricing Wars
As the cloud computing market continues to grow further, many cloud providers have come up to compete for a substantial market share. In terms of tech functionalities, there is a certain upper limit to the quality and benefits one can offer under cloud services. A cloud provider may differentiate its services from that of others only until that upper threshold is reached. After that, competition exists in terms of pricing.
As the cloud technology space continues to evolve, continued price wars could be witnessed. They would likely benefit consumers amidst the stiff competition.
The good thing about trends in technology is that they come and go at an equivalent pace. The real question is whether you will be able to benefit from these trends. If you are keen on making the most of Lacerte hosting plans, let us help in making things easier.
4 Tips to Avail Maximum Benefits of Lacerte Cloud Hosting
1. Compare different plans in terms of pricing
The cost of hosting Lacerte tax software may vary from one hosting provider to another. Depending on the initial investments, service quality, and experience in the industry, cloud solution providers have the freedom to set the hosting pricing without external intervention. From the consumer’s point of view, it also means one can benefit from finding the best plan at competitive pricing.
A detailed Lacerte hosting comparison table can be of great help in this regard. Create a table and include the pricing details of hosting plans offered by the top-rated solution providers. Take a step further and compare features in relation to the pricing. This will take you closer to making an informed selection.
2. Start a free trial first
Although cloud hosting pricing is not the only parameter that matters at the time of selecting a plan, it is a significant one. Ultimately, a cloud user would want to get maximum benefits at an affordable price. What’s wrong in checking what you can get before paying for the actual hosting plan?
This is possible and completely understandable. As a Lacerte cloud user, you would want to first experience how the cloud-hosted Lacerte works before deciding on purchasing a plan. You can start with a free hosting trial for 7 to 15 days in general before paying for the plan.
3. Scale up the plan gradually
While most cloud solution providers offer multiple hosting plans, you need not select the one with the maximum features at a high price always. The hosting plan variants are meant for different types of businesses. Their easy availability helps tax firms select a suitable plan and get started with using cloud-hosted Lacerte.
Take the case of Ace Cloud Hosting – a cloud hosting provider specializing in Lacerte hosting. You can start with their Essentials plan after checking the plan features. If you later feel the need for enhanced computing resources, switch to the Business plan and then to Enterprise as per business requirements.
4. Opt for a dedicated cloud server
Once Lacerte tax software files are migrated to the cloud, the last thing you would want to face is interrupted software performance and technical glitches. Unfortunately, that is something unavoidable with a shared hosting plan where one physical server is shared among multiple clients. Frequent and excessive usage of cloud resources by one client may hamper the accessibility of cloud-based applications used by others.
To be on the safe side, it makes sense to look for a dedicated server only. Even though it will be priced a little higher than shared hosting plans, you will benefit from complete server-level access and independent usage.
Conclusion
The trends and predictions around cloud hosting and Lacerte tax software are mostly positive for tax professionals. The degree to which you can benefit from these trends depends on how effectively you understand and adopt the related cloud solutions. Indeed, the cloud is the new way for tax professionals to access Lacerte software. The sooner you make the required transition, the better.
