Correct, it is only a practice management system--not an all-in-one accounting, tax prep, client portal, website, etc. I have not encountered downtime but I have seen some users mention it. I have experienced slight slowness as I am trying to do a lot at once, but it is not terrible.
Everything residing in TaxDome should also be stored elsewhere--yes, the intent is to consolidate information for efficiency, but it simply should not be where you exclusively retain critical documents, client contact info, etc. If TaxDome is down, yeah, I may temporarily lose access to files I have not yet downloaded from the portal, the instant messaging function, or perhaps access to electronic signatures, but it is not anything overly concerning to me. I save all of the documents to OneDrive as soon as I see I have received them and those are backed up via multiple methods. The same risk of losing files in the portal exists with SmartVault, ShareFile, etc. Again, it is not a document management solution--it is an EXCHANGE portal, meaning not intended for permanent storage (yes, I know some people use it for that and that is their call to walk such a slippery slope with any vendor).
I am not using the time entry and invoicing functions, so I cannot comment on that other than from what I have seen, it is pretty lackluster. I am seeking a true integration with QBO, as are others, and QBO can be backed up (though QBOA users are currently SOL with the native backup solution).
The biggest thing I would lose if I lost data in TD or lost access is where various jobs stand within pipelines, but I can mentally recreate most of it at any given time. For tax prep, I even have automated e-mails sent out with a nice little image that shows where in the tax prep stage a client is, so I could always pull up those e-mails if I cannot quite remember. This risk exists with all practice management systems and cloud software in general.
This is what TD has to say about backups:
https://help.taxdome.com/article/278-ho ... count-data