According to the research conducted by Xantus, an independent management consultancy, 23 percent of CIOs are presently using the technology as reported by ComputerWeekly.com.
In addition to that number, the accounting solution will be adopted by another 53 percent in the next 12 months.
However, there are still a number of companies that are unsure of the benefits of cloud computing which makes them hesitant to use it.
Agility was named as one of the key draws of cloud computing wherein the increase in storage offers them new options overnight.
Among the other findings of the survey include:
- 23% of CIOs are currently using cloud;
- 53% plan to use cloud in the next 12 months;
- 90% have conducted a feasibility study into cloud;
- 50% say integration of cloud with existing systems is a potential show-stopper;
- Security only ranked fifth in the list of CIO concerns;
- Most CIOs expected an ROI of 10-25% on the cloud;
- Public sector more bullish than private sector.
- Reduced cost- as cloud computing is paid incrementally
- Increased storage- the cloud offers greater storage data than any computer system.
- Highly automated- IT personnel no longer have to worry about updating software
- Flexibility- more flexible than past methods
- More mobility- since it is online, it can be accessed from any computer, anywhere, anytime
- Allow IT to shift focus- server updates are no longer necessary.
With today’s competition and risks for hacking, using business accounting software can be very beneficial. It saves a company time and effort, as well as money for hiring an employee to perform accounting processes. Cloud computing is undeniably a very efficient business accounting software and must, therefore, be adopted by business owners.