Why Should Asset Accounting Be in the Cloud?
Cloud software is increasingly becoming a cornerstone of modern business and technology infrastructures. As providers of everyday essentials such as electricity, gas, and water, it’s important for utilities to reap the benefits from this technological movement. Continuing to depend on outdated application servers or stand-alone executables will limit the ability of regulated utilities to adapt to future demands.
The team at Arc-Two has embraced the future by developing the first plant through tax accounting cloud solution. While developing Arctek (Arc-Two’s family of plant and tax products) several elements and benefits of cloud computing were the driving principles that helped guide the process.
Just a few of those:
Enhanced Scalability and Flexibility
- On-Demand Resources: Cloud computing will allow businesses to scale their operations up or down instantly, based on demand, without the need for physical infrastructure.
- Accessibility: With cloud software, resources can be accessed from anywhere with an internet connection.
Enhanced Security and Compliance
- Advanced Encryption: Future cloud software will feature more robust security measures, such as advanced encryption techniques and zero-trust architectures.
- Automated Compliance: Cloud providers will offer automated compliance tools, helping businesses adhere to regulations more efficiently.
Cost Efficiency and Optimized Resource Management
- Pay-As-You-Go Models: Businesses will benefit from more refined cost structures, paying only for the resources they use, leading to better budget management.
- Resource Optimization: Industry-proven tools will optimize resource allocation and improve technological efficiency.
Improved Collaboration and Productivity
- Remote Work: The cloud will further enhance remote work capabilities, allowing teams to collaborate seamlessly from different locations.
- Unified Tools: Integrated cloud-based tools will provide a seamless work environment, reducing the need to switch between multiple applications.
Innovative Services and New Business Models
- SaaS, PaaS, IaaS Evolution: The evolution of Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) will continue, offering more tailored and innovative solutions.
- Subscription and Hybrid Models: New pricing models will emerge, allowing businesses to choose between subscription-based, hybrid, or traditional licensing based on their needs.
These advancements will continue to transform how businesses operate, offering new opportunities for innovation, efficiency, and growth. At Arc-Two, we not only incorporated these modern, forward-thinking fundamentals into our first release, but will continue to evolve with the latest technological advances and utilize them to best serve our clients.
With Arctek, you can recognize the benefits of cloud computing.
Cloud Native
You only need a browser and a database to enable Arctek’s solution. Laptops, tablets, and cell phones are all native to the solution without any installation of special software or servers.
Scalable Demand
Arc-Two understands there are different times of the month or year with heavier processing and data volume. With cloud computing, you can increase system performance during the heavy processing periods and decrease performance during slower times. This allows the flexibility to increase speed when you need it the most, while also saving money.
Enhanced User Experience
A plant and tax accounting system should be intuitive to use and incorporate modern navigations. Arctek’s guided wizards enable users to perform their tasks easily and allow departments to upskill teams quickly. The days of taking years to develop super users in the system are long gone; users simply follow the pre-guided steps for complex processes.
Security Best Practices
As quickly as technology changes, so do the security threats. It’s critical to stay up to date on security protocols to ensure the safety of your data. Arctek leverages best-in-class authorization and authentication features and acts as a fully compliant and certified SOC 2 software solution.
Innovative Support Model
Arc-Two understands your accounting and tax processes are more than just base software features. Every client has unique integrations, configurations, and extensions that drive their system. Therefore, we believe that our base support package should cover those as well. You no longer have to worry about hidden costs in order to fully support your system.
Demands of Capitalization Rules
We understand the need for flexibility in pricing structure. Arc-Two works with each of our clients individually to determine which software hosting model and software terms work best for their business and technology roadmap.
Ready to learn more? Reach out to Arc-Two today to learn more about the features and benefits of making the switch to Arctek. Let us help you envision a lower cost, more efficient, full book and tax system that provides a greater user experience for all your teams.