RISKS AND BENEFITS OF ADOPTING CLOUD ACCOUNTING

Daniela Mitran

Internal Auditing and Risk Management, 2020, vol. 60, issue 4, 22-32

Abstract: The current business environment is extremely dynamic and competitive. Elements such as access to information, its transmission speed, quick decision making, mobility, and flexibility have become more and more important for companies operating in the field. Given that information technology has evolved incredibly fast over the past decade, digital technologies such as cloud computing, e-commerce, and mobile applications provide opportunities to improve networking with partners and customers, and new ways to generate value. Cloud applications have gradually gained ground to the detriment of locally operated applications. There are numerous advantages of cloud technology which can no longer be overlooked, especially by small- and medium-sized companies. At company level, regardless of its size or activity, the decision to change the accounting software is critical and may have a major positive impact on the business, nevertheless involving a series of risks that can be largely mitigated.

Keywords: Cloud accounting; Cloud computing (search for similar items in EconPapers)
JEL-codes: M15 M41 (search for similar items in EconPapers)
Date: 2020
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