Cloud Tech Has Small Accounting Businesses Optimistic about the Future

The cloud is transforming the accounting industry and the role of the CPA and right now, they’re feeling pretty optimistic about their future.

Right Networks Cloud Impact Survey

A survey from Right Networks found that well over half of the 364 small accounting businesses and other accounting pros polled were optimistic, in some way, about the economy. While more than half were “cautiously optimistic” about the next six months, nearly the same amount (48%) are bullishly optimistic.

And the use of cloud technology — the benefits it provides small accounting firms — was among the leading factors driving the optimism upward.

Effective in the Cloud

These results are important to small businesses. Expense management, employee time tracking and invoicing are just a few of  small business operations the cloud can handle effectively and safely. What’s more, small business can connect with their CPAs in the cloud to do a variety of things in one location. In short, the report highlights the cloud’s effectiveness as a business tool.

Rachel Krug, is the Director of Product Marketing for Right Networks. She told Small Business Trends a few barriers still exist.

Optimistic Outlook

“While SMBs are have an optimistic outlook and are technology early adopters, 21% of the respondents pointed to cost when asked about the “biggest barrier” to moving their business to cloud services. Another 53% pointed to security concerns,” she said.

When asked about other hurdles to small business success, the respondents’ answers varied. Worries about healthcare and related employee expenses topped the list at 32%. Managing cash flow, government regulations and managing the work life balance all ranked just behind the health concerns.

The survey had 18 questions.

Cloud Data Statistics Photo via Shutterstock

This article, "Cloud Tech Has Small Accounting Businesses Optimistic about the Future" was first published on Small Business Trends