By Reckon Team

The link between technology and competitive edge: are you on the ball?

Accountants | Businesses

Software in the cloud can add more than just streamlined operations value to a business. How are you using it compared to your competitors?

Most of us have heard by now about cloud computing and the benefits it offers including the ability to deliver better applications and greater flexibility.

What we also know is that business leaders and developers are increasingly on board and the market is now in “hypergrowth,” according to research by Forrester, as businesses continue to see the value and start to actively plan for change. However, not all technology segments will see widespread cloud adoption and success in 2015. Forrester also highlights that software is one of the leading segments in cloud adoption. Gartner research forecasts that this market, worldwide, is expected to grow to US$45.6 billion by 2017 (from $18.2 billion in 2012), and that 47 percent of companies they surveyed are already using cloud software to deliver competitive advantage.

The agility the cloud offers in both software development and innovation as well as for users is ultimately helping businesses to streamline their approach and create better efficiencies. We all know the value it can add to our business operations. But  what about software that can go the extra mile to help professionals to take the lead through deeper collaboration, better decision making and better market agility? A world of adaptable, flexible and innovative software that allows businesses to leverage real time data and dashboards to enable better decisions and engagement with customers. If you’re looking for marketing software, this may sound boringly familiar – old news even. But not when it comes to accounting software. This is a whole new world of opportunity to really live the customer-centric approach most businesses aspire to. We know you probably know this kind of software is out there, but what may not be understood is how much more value, flexibility and freedom cloud accounting software can add to our business. With cloud software touted as an area for major growth in 2015 and beyond, and almost 50 percent of companies already using cloud software to gain a competitive edge, leaving cloud accounting unexplored may just put small businesses behind their competition.

Accounting software in the cloud allows businesses to think bigger. On the flip side it allows developers to be even more innovative. Either way – using it effectively is going to benefit your business.

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