Australia Shows Keen Resolution toward Cloud Accounting Applications
Cloud applications have leapt to new heights in the year 2014. With mobile consumers adopting and embracing the cloud’s immeasurable benefits over its downsides, the cloud accounting market also saw a clearer road for growth in the years to come.
Xero, the New Zealand-founded cloud accounting software, recognised this big progress through a survey they conducted. The study collected data from 1, 622 small business participants around the globe to know how SMBs see and rank the advantages of using cloud accounting.
To no surprise, the study found out how Australian SMBs gain a slight advantage in the adoption of cloud accounting software. According to the statistics, 14% of Australian small businesses are already taking advantage of cloud accounting applications to manage their accounts. Meanwhile, only 11% can be credited to the rest of the world.
Non-Cloud Accounting Users Plan to Convert in 2015
Xero’s study gained positive feedback even from those who are not yet using the cloud for their accounting. Almost half of Australian businesses, particularly 46% of SMBs, said they are looking forward to converting into the cloud against the 39% global result in the next 12 months.
“The adoption of cloud accounting software is happening at a remarkable rate, especially here in Australia, with three out of five small businesses set to manage their accounts in the cloud by this time next year,” said Xero Australia managing director Chris Rudd.
And what has pushed these businesses to switch to the cloud? According to Ridd, the world has seen the increasing importance of cloud accounting to small businesses. It’s found out in the study that users saw the cloud’s mobility as the top benefit from using the technology. It’s then followed by real time syncing.
Intuit Australia managing director Nicolette Maury also noted that SMBs actually disregard all the hype surrounding the cloud and instead focused on its tangible benefits.
Security Issues in Cloud Accounting are Top Concerns
The study conducted for Xero Accounting by Perceptive Research found out what’s keeping small businesses from converting to cloud accounting. The top concern for cloud adoption is the perceived security issues with the cloud.
But Ridd has countered this, saying that the biggest risk any small business might encounter in the cloud is its technology or internet connection.