Which of the following is a benefit of using cloud-based accounting software like Sage Intacct?

Using cloud-based accounting software like Sage Intacct offers the significant benefit of accessing financial data from different locations. This convenience is a key characteristic of cloud solutions, as they allow users to connect to the software from any device with internet access, whether in the office, at home, or while traveling. This flexibility enhances collaboration among teams and enables timely decision-making based on real-time financial data, which is crucial for effective business management.

In contrast, the other options highlight drawbacks rather than benefits of cloud-based systems. Increased hardware costs is typically associated with on-premises solutions that require substantial investments in local infrastructure. Dependence on local servers is also a characteristic of traditional accounting systems, which restricts accessibility and can lead to downtime if there are issues with the servers. Longer software installation processes are generally a concern for on-premises systems, which can take significant time and resources to implement compared to the quicker deployment often seen with cloud-based solutions. Thus, the characteristic of remote accessibility directly underscores the advantages of using cloud-based software like Sage Intacct.