Accountancy Europe recently published an information paper, Moving to the Cloud. The paper examines the what, why, and how of cloud computing for accountants working in small- and medium-sized practices (SMPs). It addresses potential benefits and pitfalls of cloud computing to help SMPs remain relevant for their clients, which are mainly small- and medium-sized entities (SMEs).
Cloud-based computing is important for SMPs because it is important to their clients. Clients are increasingly demanding robust accounting tools that allow them to access and manage their data in real time and facilitate mobile computing. Moving to the cloud is the best way to satisfy these demands and accountants must be ready to adapt to this new paradigm. Cloud computing is not a perfect solution and there are both potential benefits and pitfalls from moving online. However, such a move is inevitable for SMPs if they wish to remain relevant to their clients.
Read more at the International Federation of Accounts