Cloud Computing Statistics & Accountants

We have heard many statistics and predictions bantered about, speculating as to the size and impact of the cloud computing market, and we stumbled upon some today:

Click image to enlarge infographic – > ..

Source: Bill Ives, FastForward 

“The global cloud computing market will grow from $40.7 billion in 2011 to more than $241 billion in 2020, according to new Forrester forecast data reported in Sizing The Cloud by Stefan Ried, Ph.D. and Holger Kisker, Ph.D. Based on Forrester’s cloud market taxonomy, this new report outlines the different market dynamics for the three core layers of cloud computing – the public cloud, the virtual private cloud, and the private cloud.”

According to a 2011 survey conducted by Mimecast, 72% of respondents stated that cloud services have improved end-user experience. 58% also agreed that being on the cloud has given them better control of their data.

Related: VOTED: 2012 BEST ACCOUNTING CLOUD/SaaS/ASP

For Accountants Pondering a Move to the Cloud  –

CLICK TO ENLARGE

The cloud allows accounting practices to engage with clients in real time in ways not previously possible.

Graph from: Sizing The Cloud 

Because the cloud provider is responsible for both hardware and software, firms may not have to acquire costly technology like servers or pay directly for computer or software application upgrades and updates. Firms also can save money because they no longer need extra space to contain the office servers and other IT.

The efficiencies of cloud-based systems allow firms to raise their effective rates without having to hike their billing rates.

Because of the virtual office environ precipitated by cloud platforms, CPA firms are beginning to move away from the physical office business model, saving thousands of dollars per month when they do.

And don’t forget the SMB clients. “For most small business owners, the savings in time and cost that cloud services offer will be worth it,” writes Erik Larson at Washington Post  

So has your organization moved to the cloud yet? If so, what aspects of your workflow have made the transition?