Cloud computing, a type of computing and storage service that uses a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server, has now become a significant key to business success.

Commissioned by Google, Vanson Bourne had conducted a research that questioned 100 senior executives within the finance departments at UK companies.

According to the research, data revealed that there are 93% of financial decision makers that believe that cloud computing, of which online accounting is one of the examples, will be an important element to the success of their businesses over the next couple of years.

It was also found out that there are 68% of businesses surveyed that had either already implemented cloud services or have plans to.

There are also a total of 66% of senior executives who believe that the cloud is the cause of the increase of the IT department’s contribution to corporate strategy and 69% believe that because of cloud computing the IT department’s ability to innovate had also increased.

This importance of cloud computing to business strategy means that because of the emergence of applications and software that utilizes cloud computing like web accounting software, the finance departments is expected to get more involved in IT decision making.

It was also found that half of the finance executives believe that once cloud computing becomes a business strategy, the CFO is expected to have more influence over IT decisions.

Of those surveyed, there were 94% who believe that cloud computing provides their business with quantifiable benefits, while there were only 64% who said that cloud computing is more beneficial than traditional outsourcing.

Thomas Davies, Head of Google Enterprise for the UK and Ireland said, “To date, enterprise cloud adoption has been largely driven by the IT function. However, today we see ourselves having more discussions with CFOs, COOs and CEOs and it is not hard to see why. The benefits of cloud computing go far beyond the obvious cost savings on software and reducing the burden of maintenance.”

“The strategically significant role it can play within an organisation in terms of driving innovation and productivity is making it an increasingly attractive option for businesses that want to remain competitive and agile.”

You may also Like Us on Facebook, Follow us on Twitter and Follow us on Google+ for more Updates.