A recent development on the online accounting programs, Cloud Computing.

More and more companies are already investing heavily on cloud computing. This is what was revealed in a recent survey of among 1,650 IT and business executives. Furthermore, it revealed that about 34 percent of these companies’ budget for IT is devoted to cloud computing.

The survey was conducted in January of this year by the IDG Enterprise Cloud Computing. Currently, about 24 percent of these budgets go to private cloud deployments and is expected to rise to 33 percent in the next 18 months.

These figures demonstrate that more and more companies and small businesses are trusting this accounting software online not only for more efficient operations and to save money but also as a role player in shaping business strategy.

As if this is not enough, cloud computing, is expected to even gain a greater slice of IT budgets in the coming years. And by the next 12 months, about two thirds of companies are seen to increase their spending on cloud computing. Simply put, companies will be increasing their spending on this small business accounting software by 16 percent.

Another revelation from the survey is that 7 out of ten companies believe that there is a need for their IT departments to expand and improve their skills to keep up with the trends and demands of cloud computing.

In the next three years, many company applications are expected to be moved to cloud computing by businesses. These include email/messaging, collaboration/conferencing, data storage, customer relationship management, and human resources.

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