5 Reasons Why CPA Firms Should Embrace a Cloud-Based Platform

IN THIS ARTICLE

With a cloud-based platform, you can:

1. Access data anywhere

2. Provide new services

3. Increase productivity

4. Reduce IT cost

5. Improve quality control

Provide more efficient service to your clients by moving to Bloomberg Tax & Accounting Fixed Assets Web. Our cloud-based fixed assets solution will help you and your clients improve productivity and avoid costly errors by managing the complete fixed assets life cycle – from construction and purchase to retirement. Regardless of your company size, Bloomberg Tax & Accounting Fixed Assets is scalable to handle any number of users, assets, and locations, to help you save time and money, and scale as your practice grows.

1. Access secure data anytime, anywhere

Access client data anytime and from anywhere. With Bloomberg Tax & Accounting Fixed Assets Web, you can become more mobile and efficient by accessing real-time data from your client’s location, saving time and effort — no check-in or checkout process needed.

We know that data integrity and security are at the top of your list. Multiple login management systems, encryption, multifactor authentication, and single sign-on capabilities are built within the network infrastructure to protect your clients’ data.

2. Grow revenue by offering new client services

Bloomberg Tax & Accounting Fixed Assets Web expertly manages your clients’ largest expenditures. With our cloud-based solution, you can provide multiple services to solve the toughest tax challenges. New service offerings lead to new revenue for your firm:

• Provide depreciation reconciliation services between trial balance and general ledger
• Provide depreciation process improvement services
• Provide client data mining and analysis when new regulations roll out

3. Increase productivity with better client collaboration

Achieve better client collaboration and increase productivity by moving to Bloomberg Tax & Accounting Fixed Assets Web.

• Your clients can share source files with your firm in a secure online environment
• Eliminate the need to email large files
• Eliminate the security risks of transferring confidential data

4. Reduce internal IT costs

Say goodbye to installing software in your clients’ environments and reduce your own internal IT department costs. Moving to the cloud eliminates installation and maintenance costs, mitigates server failures, and reduces support costs, allowing your firm’s staff to focus on higher-value work.

5. Improve data quality control

Our cloud-based solution provides comprehensive administrative capabilities, giving you better quality control over resources and data. Limit what a user can or cannot do within the software and gain better insight into what work must be done, who is handling the work, and when the work will be completed.

Reference Shelf

• Top 10 Fixed Assets Challenges
• Building a Business Case for Tax Automation
• ITW Saves Hundreds of Hours With Bloomberg Tax & Accounting Fixed Assets
• Cost Segregation and Fixed Assets: What You Need to Know
• State Conformity With Federal Bonus Depreciation Lookup Tool
• Detangling State Tax Conformity
• 2021 Outlook on Tax Report