While majority are convinced of the advantages of cloud computing to companies, Chief Information Officers (CIOs) are giving their thumbs-up to the new accounting software for business.

According to the research conducted by Xantus, an independent management consultancy, 23 percent of CIOs are presently using the technology as reported by ComputerWeekly.com.

In addition to that number, the accounting solution will be adopted by another 53 percent in the next 12 months.

However, there are still a number of companies that are unsure of the benefits of cloud computing which makes them hesitant to use it.