Drake is one of the top tax software and is popular among CPAs, tax preparers, and business owners. Its fantastic features like e-signature, scheduler, tax planner, etc., enable you to prepare accurate tax returns speedily.

Drake Software tax hosting is the cloud-based version of this professional tax software with strong built-in security and privacy protections, a fast and automatic backup system, data recovery, integration capabilities, and much more.

It is not just a regular business tax software; it is about way more than taxes. In this piece of writing, we will discuss some of the top benefits of Drake Software hosting. Let’s get started.

Advantages of Drake Tax Hosting That Help Improve the Tax Preparation Process

Round-the-clock, Global Access 

Suppose you are out of the city for business purposes and one of your clients requests you for the last three months’ invoices on an urgent basis. Unfortunately, you would not be able to help that client as all the invoices are stored on your desktop PC at the office. Imagine if you had used a cloud-hosted version of the Drake Software, you could have impressed your client with prompt support.

Drake Tax Hosting allows you to access your financial data from any geographic location at any time of the day or night; all you need is a compatible device (laptop, smartphone, tablet) and an internet connection.

Multi-User Capabilities 

Business tax calculations require a detailed account of financial information in a well-organized manner for tax preparers’ ease. Your team of tax preparers needs to collaborate to ensure accurate tax returns, but what if a couple of team members couldn’t reach the office for some reason? In such a situation, your employees can work from home using the cloud version of Drake Software and collaborate easily, without delaying any urgent deadlines.

Apart from that, if you partner with a tax preparation outsourcing firm, you can get optimum support instantly as you only need to allow them to access Drake Software securely, and you are good to go. In addition, its multi-user capabilities will enable you to add a specific number of team members to work together and prepare tax speedily.

Robust Security Measures 

Before investing in any cloud software, you would check how reliable it is for you, what level of security they provide, etc. As the confidentiality of your company’s finances is a high priority, Drake Software ensures your financial data remains secure on its servers. In addition, it is backed by enterprise-grade security methods, including firewalls, data encryption, antivirus, antimalware, etc.

Take a look at Drake Software’s security measures;

  • 256-bit level encryption
  • Enterprise-grade protection software deployed
  • Windows firewall with advanced security
  • Constant monitoring for protection against intrusions
  • PCI Compliance
  • HIPPA and GDPR compliant
  • SSAE-18 certified datacenters with SOC 1,2 ad 3 type-II
  • Secure backups

Custom Hosting Options 

Cloud hosting needs vary according to the size of your business or tax preparation requirements. It is one of the best advantages of using Drake Software as it provides you with a unique, private server for all your tax apps. You would get a server hosting dedicated to meeting your business requirements.

This results in streamlined workflow and improved team collaboration, ensuring all business-critical tasks are done in real-time.

Scalability When You Need it the Most 

You already know that your business’s financial performance and condition change as it grows. These changes have an impact on the tax forms you need to follow for tax returns. Similarly, you might also need a team of more experienced and skilled tax preparers and a higher version of tax software or more integration features.

Drake Software may allow you to connect other software applications and tools you use for accounting and finance management for effective and fast tax preparation.

Reduce Your Technology Expenditure  

You need not invest in IT infrastructure or hardware. All you need is a user subscription to Drake Software online, saving additional expenses you would have otherwise spent on technology. Not only that, you get tech support from Drake Software round-the-clock throughout the year, enabling you to manage your tax operations uninterrupted.

It means you need not hire a full-time IT staff that works at the office in multiple shifts, their support team will take care of your tax staff’s requirements whenever needed. Moreover, if you are already in business with a firm for accounting outsourcing services, they can most probably provide you tax support using your Drake tax hosting subscription, making the best out of your outsourcing partnership.

Pay-as-you-go Model 

Drake tax hosting services allow you to use its online software and pay according to your usage. So, for example, if you have added five tax professionals to your Drake account and a couple of them leave the job, you can simply remove them and may pay less, according to the number of people using your subscription. Or, if you need to opt for more services, you can simply add a few more.

Basically, you will be billed according to your choices and preferences and what you use for a certain period, helping you manage tax prep costs.

Consistent & Smooth Functioning

You might have experienced some downtime with your desktop software for different reasons. There are almost no chances of downtime if you use Drake tax hosting services, as your tax system will be running online on its cloud-based platform. Except for exceptional cases like a power cut, Drake hosting ensures a 99% uptime. As a result, you will have access to your tax data whenever you need it.

Besides, your staff will not have low billing as they will always have the system running; the reduction of downtime here ensures smooth and consistent functioning, resulting in on-time tax preparation and filing.

Data Recovery 

One of the most significant advantages of using a cloud-based tax prep application like Drake tax hosting is that your tax data is safe when you are not saving it. Yes, Drake automatically creates data backup and ensures you never lose your data, even in the case of natural calamities like floods, earthquakes, or fire.

Drake tax hosting software regularly creates disaster recovery backup to protect your data against all odds, which you can recover in times of need using a simple process.

Drake tax hosting enables your tax preparers to be updated with tax laws and helps them meet many challenges they might face daily. No doubt, with the advantages discussed above, it is one of the most popular tax software among tax professionals, accountants, and business owners worldwide. Therefore, it would be worth investing in it to streamline and manage your tax processes well and on time to avoid penalties and IRS audits, leading to savings you can utilize in a better way for growth.

Author Bio – Stacey Howard has six years of experience in accounting. She has been working as an accountant with the reputable firm Cogneesol– an accounting and tax preparation service provider. She has a unique way of networking through her words across the globe. Her writings shine through various forums that speak about her profession. She is the proper interpretation of an accounting profession-driven passion for writing.

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