Cloud Accounting Vs. On-Premise Software

Are you considering switching to cloud accounting but aren’t sure if it’s the right option?

There are many differences between cloud computing and on-premise software. While both have benefits and advantages, many companies accustomed to their current on-premise software are hesitant to transition to cloud computing.

Cloud computing has grown increasingly popular because of its flexibility and cost savings.

If you aren’t using cloud accounting and still rely on on-premise software, or if you’re wondering if transitioning to cloud software is the right option, we’re here to help.

Here’s what you need to know.

Cloud Accounting Vs. On-Premise Software

Whether a company uses cloud computing or on-premise software depends on its needs, budget, and more.

Businesses using cloud accounting use third-party providers to host their software and data, while on-premise software is installed on an organization's local server. At one point, on-premise software was the only software delivery model, which is why many organizations that adapted to it are hesitant to transition to cloud computing.

Cloud computing serves many business needs. The services are secure, reliable, and cost-efficient. Learn more about the differences below.

On-Premise Software

On-premise software runs on an organization's local server, meaning that people within the organization can access the database. Cloud computing software is placed in the cloud and held on a remote server.

Software stored in-house gives an organization the peace of mind it needs knowing that its data is secure. In-house software generally provides better protection than cloud computing software.

That said, maintaining and managing on-premise software costs more than cloud computing. On-premise software costs include in-house hardware for the server, IT employees, software licenses, and more.

Cloud Computing

Organizations using cloud computing software hire a third-party provider that hosts a company’s applications offsite, providing companies with on-demand delivery of IT resources. These services are available on an as-needed, pay-as-you-go basis, saving organizations money.

Companies can scale their usage depending on business growth, software requirements, and more.

Cloud computing grows business, helps organizations connect with other companies and customers, and improves global expansion.

What is the Best Option for My Business?

The software you choose depends on your organization’s needs. Here are a few things to consider.

Cost

Organizations using on-premise software must pay for ongoing costs and maintenance of the software, server hardware, usage, space, and more. Organizations using cloud software only have to pay for what they use. They are not responsible for maintenance or upkeep, which results in cost savings.

Security

Organizations with sensitive information typically opt for on-premise software because of the added level of security.

Cloud software runs the risk of breaches and is less secure. Security is a massive concern for many industries, and cloud software does not offer the same security as on-premise software.

Control of Data

Organizations using on-premise software control all their data, which means the data is more secure. Cloud computing software is hosted by a third-party provider, so the third party has control of the data. If downtime or unexpected errors occur, an organization may have trouble accessing the data.

Any organization needs secure software that can support its data. Whether your organization is big or small, Nolan Business Solutions is here to help. We offer Nolan Cloud Services (NCS), a cloud platform allowing users to access applications anywhere, anytime - using only a web browser.

Nolan Cloud Services offers a wide range of applications, including Nolan Bank Feeds, Automated Bank Reconciliation and more.

Are You Considering a Software Upgrade? Begin Your Nolan Cloud Services Trial Today

If your business software is slowing you down, it may be time to consider looking into a software overview.

Nolan Cloud Service is licensed as a service. We charge no upfront fee - all we charge is an annual subscription cost. Click here to begin your Nolan Cloud Services trial today.

Nolan Business Solutions offers solutions that improve your financial processes, inventory solutions, accounting, and more. We help solve business software problems to give companies the freedom to transform and grow.

Whether you are interested in a free demo for NetSuite or our cloud services, we can help. We help solve business software problems to give companies the freedom to transform and grow.

Book a free demo today, and our team will be in touch to show you how our products can help your business.

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Cloud Accounting Vs. On-Premise SoftwareJuly 6, 2022 by Carole D'Arcy

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