Cloud Accounting: Top Four Questions Every CFO Should Ask

So you’re considering the cloud. You’ve heard about the benefits, reduced costs, and the absence of cumbersome hardware. Across the industrial landscape, the cloud is being called the business management and accounting vehicle of necessity. But resonating in your head is the old adage look before you leap, and you should.

Top 4 questions every CFO should ask before leaping into cloud accounting

1. How is data protected?

This is a biggie. Ask your cloud-computing service provider about the specifics of data protection as well data backup plans in the event of unexpected service interruption, natural disaster or database corruption.

2. Will service be interrupted in the event of a billing dispute?

Simply, your service provider needs to give you the peace of mind that no matter what, you will have access to your data. Ensure that your cloud service cannot be used as leverage in any circumstance.

3. Can data be removed, if you choose to stop service?

Ultimately, you need to know if your data will remain in the cloud if you happen to feel more at ease on land. Ask your service provider if you can remove your information, completely. 

4. Is your internet connection sound?

Remember in the cloud, the reliability and capability of your internet connection is everything. You may need to increase bandwidth or add more internet connections to keep cloud-based applications working at their desirable speed.

Comparison shopping cloud services

Your choice to join the world of cloud accounting will be largely dependent upon the confidence you have in your service provider. Comparison-shopping is never a bad idea; a wide range of features and guarantees exists. Ask the questions and when you receive an answer with which you aren’t comfortable, don’t be afraid to negotiate. According to CFO magazine, providers are increasingly willing to negotiate terms, especially with large customers.

Have questions about business management software in the cloud? Get answers to all of your questions and learn how effective, efficient and productive the cloud can be.