Data storage is no longer a hassle, and data can be accessed without needing to pay for hard drives and other digital storage devices.

Software updates are dynamic and automatic and eliminate the need to manually update a software each time and on each employee’s system.

Companies and CAs can have huge savings on IT costs each year.

Remote working, that is any time, anywhere access is one of the biggest advantages of using cloud-based software.

Why Should Businesses Adopt a Cloud-based Software?

There are no compliance-checking tools built into most software, and manual checks need to be carried out.

You cannot file your returns using accounting tools, or vice versa.

Each software installed serves a separate function.

There is no flexibility in working remotely.

The availability of working space, cost of rent, good internet connectivity and the energy resources required to run a physical office, are key constraints in a traditional system.

There is a need for the installation of software into computers and laptops in a physical office, and the constant upgrading of the software needs to be done, either by installing or downloading the same from the internet, each time.

Clients need to submit their data physically, and CAs can only file their returns once this data is handed over to them.

There are several challenges faced by businesses and CAs who use the traditional route of accounting and return-filing, some of them being. Challenges That Affected the Traditional Practices of Accounting and Return-filing

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