It’s quite a confronting question isn’t it? Or maybe it’s not – this may all depend where you are along the cloud computing cycle. We don’t need to tell you that this term ‘has been used beyond saturation point in recent years’, nor that it is ‘the over-riding strategy that will dominate the technology landscape for a generation’ (CapioIT October 2014).
So to better understand where the industry and SMEs are at in relation to cloud preparedness we commissioned an exclusive research report, Can the Accounting Profession Keep up with Clients and the Cloud? Launching next week, we wanted to share some of those highlights with you upfront. Our research partner is Phil Hassey of CapioIT, an IT cloud analyst and expert in translating the potential measurable benefits of the cloud against the reality of the every day.
Our definition of cloud computing is “IT related resources that are provided through internet technology. These resources are provided in a rapidly scalable model with a focus on increased access.” The popularity of cloud accounting solutions in our report revealed that the industry well and truly understands the benefits – cloud is here and it’s not going away.
We also looked at the difference between the regional and metropolitan accountancy take up of cloud computing. With some regional centres fielding over forty professional accounting practices per location, such as is the case with Wagga Wagga for example, we confirmed that client demand and competition are what drive adoption rates.
However our study also threw out some curve balls. The look at take up rates, attitudes and overall usage for Millenials versus baby boomers was a fascinating result and other findings including cost, data location and integration were also not what we expected. And as for the ambivalence to red tape and considerations for security – this was an eye opener as well.
Our research report Can the Accounting Profession Keep up with Clients and the Cloud? also spoke with a cross selection of SMEs to learn more about what they thought of the cloud (only 27% are using the cloud – untapped opportunities abound) and we also asked them about:
- What it will it take to move to the cloud
- Their influence on cloud purchasing decisions
- How much they planned to spend on cloud
- What are the real benefits of cloud
From this we have built a prescription for accounting firms on maximising the opportunities that exist to act not only as the trusted business advisor but also the steps that need to taken on this revolution to make the most of what the cloud provides.
This exclusive research will be available for members of our new LinkedIn group CCH iFirm: Transform your Practice with the Cloud on Friday 7 November.
Our new research is almost here! Make sure you join our our new LinkedIn group CCH iFirm: Transform your Practice with the Cloud to receive your exclusive copy next week.
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