Cloud Tech Has Small Accounting Businesses Optimistic about the Future

Right Networks Cloud Impact Survey: Cloud Tech Has Small Accounting Businesses Optimistic on 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 percent) are bullishly optimistic.

And the use of cloud technology — and the benefits it provides small accounting firms — were 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  the small business operations the cloud can handle effectively and safely. What’s more, small businesses 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, Director of Product Marketing for Right Networks, told Small Business Trends a few barriers still exist.

Optimistic Outlook

“While SMBs have an optimistic outlook and are technology early adopters, 21 percent of the respondents pointed to cost when asked about the biggest barrier to moving their business to cloud services. Another 53 percent 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 percent. Managing cash flow, dealing with government regulations and managing the work life balance all ranked just behind the healthcare concerns.

The survey had 18 questions running the gamut of issues facing small firms.

Cloud Data Statistics Photo via Shutterstock

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Rob Starr Rob Starr is a staff writer for Small Business Trends. Rob is a freelance journalist and content strategist/manager with three decades of experience in both print and online writing. He currently works in New York City as a copywriter and all across North America for a variety of editing and writing enterprises.

One Reaction
  1. With more small businesses, accounting will surely thrive. There will be a greater need for the service.