As compared to traditional accounting software, cloud-based accounting systems offer better security for your financial information. All your data is stored on remote servers in an encrypted format. Besides, the best cloud accounting software ensures that critical financial data is not exposed to unauthorised sources and has backup servers to ensure there is zero data loss.
With cloud-based accounting software, it is safe and easy to share data as well. You can just grant access rights to the person you want to share your data with.