cloud accounting institute: 2013 study of cloud best practices

Cloud Solutions Best Practices: 2013 Benchmark Study Results and Analysis from the Cloud Accounting Institute

2 | Cloud Solutions Best Practices: 2013 Benchmark Study | Cloud Accounting Institute

Table of ContentsStudy Background and Highlights...........................................................................................3

Cloud Adoption Status: Past, Present, and Future ....................................................................4 Types of Solutions ....................................................................................................5 Comparison to Saugatuck 2012 Survey ......................................................................6

Expected Benefits of Cloud Solutions......................................................................................7

Expressed Concerns about Cloud Solutions..............................................................................8

Integrating Cloud Solutions ..................................................................................................10 Management ...........................................................................................................10 Maintenance ...........................................................................................................10 Benefits .................................................................................................................11

Current System Satisfaction Levels .......................................................................................12

Expectations for Cloud Solutions ..........................................................................................13

Appendix:

About the Study .................................................................................................................14 Survey Questions .....................................................................................................14 Demographics/Classifications....................................................................................17

About Cloud Accounting Institute .........................................................................................18

About Armanino .................................................................................................................18


BackgroundIn Q1 2013, the Cloud Accounting Institute (CAI) conducted a national survey of financial and accounting professionals concerning their current and intended future use of cloud solutions, commonly known as Software as a Service (SaaS) applications delivered through a public cloud. The survey is the basis for this benchmark study of cloud technology practices, outlooks, and trends based on the following topics:

• Cloud adoption status

• Key expected benefits of cloud solutions

• Key concerns about cloud solutions

• Expectations of cloud solutions

• Integration

In addition, this report benchmarks some findings against the Cloud Accounting Best Practices 2012 Benchmark Study to identify emerging trends and established practices.

To view a complete list of survey questions and survey respondent demographics, refer to the appendix.

Study Highlights

• The rate of growth in cloud adoptions continues to accelerate, increasing over 43% in the last year to nearly 75%; the number of respondents indicating that they do not intend to use SaaS applications (18%) remains consistent with the 2012 study

• The most widely deployed solution areas currently are Accounting/Financial Management and front-end applications such as CRM and Web Portal Development Tools; both were selected by 52% of respondents

• Among those with plans to acquire SaaS solutions, 74% pointed to Accounting/ Financial Management and 50% indicated Budgeting/Forecasting Corporate Performance Management Solutions

• New this year are questions concerning integration challenges and how they are managed; responses indicate a substantial comfort level with using native cloud integration methods in house

• Comparative ratings of current versus SaaS functionality indicate that respondents believe that SaaS can deliver better ROI and increased efficiency; the demand for more efficient business processes is a major theme in this year’s survey


Cloud Adoption Status: Past, Present, and FutureAs in the previous 2012 study, respondents were asked to indicate whether they currently utilize cloud financial solutions, and if they intend to use them in the future. Below is a comparison of the 2012 and 2013 findings on the current and expected usage of cloud accounting.

Findings on Cloud Adoption:• The number of respondents currently using cloud solutions has increased in the past

year from 52% in 2012 to 75%

• The expected future usage of cloud accounting is similar across 2012 and 2013. This year’s survey found that 82% intend to use cloud or SaaS for accounting solutions in the future (compared to 83% in 2012)

2012

Yes 52%

No 48%

Yes 75%

No 25%

2013

2012

Yes 83%

No 17%

2013

Yes 82%

No 18%

Do you currently use any cloud solutions, technologies, or Software as a Service (SaaS)?

Do you intend to use Cloud or Software as a Service for accounting solutions in the future?


Cloud Accounting Insight:

Cloud use increased a dramatic 43% from 2012 to 2013. At the same time, the percentage of respondents who intend to use cloud-based SaaS accounting solutions in the future remained the same for both years—82%. So while the rate of adoption is growing rapidly, the percentage of non-adopters seems fixed and is likely to remain so; on-premise and cloud solutions will continue to co-exist, but the on-premise model has lost its dominance, even in the novelty-resistant accounting field.

Those who answered yes to the previous questions were asked what solutions they currently use or intend to use.

0% 10% 20% 30% 40% 50% 60% 70% 80%

71%

58%

32%

16%

13%

10%

7%

7%

Accounting/Financial Management

ERP

Front-end Applications (CRM, Web Portal Development Tools)

What cloud solutions, technologies, or software do you use?

Business Intelligence

Consolidation

Budgeting/Forecasting/Corporate Performance Management

HR

Storage

What cloud solutions, technologies, or software do you use?

0% 10% 20% 30% 40% 50% 60% 70% 80%

74%

50%

42%

41%

32%

19%

3%

Accounting/Financial Management

Front-end Applications

ERP

Business Intelligence

Other

Consolidation

Budgeting/Forecasting/Corporate Performance Mgmt.

What cloud solutions, technologies, or software do you intend to use?What cloud solutions, technologies, or software do you intend to use?


Findings on Type of Solution: • Front-end applications such as Front-end Applications (58%) and Accounting/Financial

Management (71%) are the most-used solutions

• Accounting/Financial Management (74%) and Budgeting/Forecasting/Corporate Performance Management (50%) solutions are top solutions that respondents intend to use in the future

• Just under a third of respondents answered the question about current cloud deployments; nearly eighty percent of respondents shared their plans for the future.


For our sample of small to midsize businesses (SMBs), Accounting and Financial Management represent the most widely used types of cloud application. Also, Accounting/Financial Management topped the list of intended future cloud-based purchases (71%), followed by Budgeting/Forecasting/Corporate Performance Management (51%); once businesses can align CRM with accounting and performance tracking along an infinitely flexible cloud backbone, business agility will increase at a phenomenal rate.

Illustrating both the similarity and differences between SMB and enterprise adoptions, Gartner found CRM to be the leading cloud application among the large enterprises they surveyed, with cloud CRM generally being integrated with legacy on-premise systems.1

Comparison to Saugatuck 2012 Survey on Cloud Adoption:

Last year, the Cloud Accounting Institute benchmarked against the Saugatuck Technology’s “2012 Global Cloud Business Software Survey” to compare cloud adoption rates.2 Saugatuck projected that demand for SaaS Finance/Accounting solutions would grow at the rate of 12% in 2012 and 15% in 2013. Our 2013 survey results clearly indicate that the market grew faster than expected.

The current “Saugatuck Strategic Planning Position” states: “Through 2016, 75% or more of NEW enterprise IT spend will be cloud-based or Hybrid.”3

0%

Collaboration / Communications / Social

CRM / Salesforce Automation

Customer Service / Support

Human Resources / Talent Management

eCommerce / Collaborative Commerce

Procurement / Sourcing / Spend Management

Software Development / Test

Business Intelligence / Advanced Analytics

Budgeting / Reporting / Planning

Governance, Risk and Compliance

ERP / Manufacturing / Supply Chain

Finance / Accounting

Already in Use (by YE2011) 2012 2013 2014 2015 or beyond

20% 40% 60% 80% 100%

24% 13% 19% 16% 13%

27% 10% 19% 15% 13%

20% 12% 20% 16% 14%

22% 13% 17% 14% 15%

12% 17% 16% 16% 15%

16% 13% 14% 16% 16%

17% 15% 15% 16% 12%

13% 12% 19% 18% 13%

12% 12% 16% 14% 14%

8% 12% 13% 16% 17%

8% 10% 14% 16% 18%

12% 12% 15% 14% 12%

SaaS Business Software Purchase Plans


Expected Benefits of Implementing Cloud SolutionsRespondents were questioned as to what benefits they expected from adopting a cloud financial solution. Top expected benefits from respondents are shown in the chart below.

Findings on Expected Benefits:• The top three expected benefits from adopting Software as a Service (SaaS) solutions are

simplifying software management (67%), reducing capital and/or operating costs (65%), and speedy implementation (47%)

• Compare to 2012: simplifying software management (75%), reducing capital and/or operating costs (64%), and improving internal and external collaboration (52%); speedy implementation was rated as the sixth benefit

• Increasing revenue was selected least frequently in both 2012 and 2013

0% 10% 20% 30% 40% 50% 60% 70%

67%

65%

47%

41%

36%

36%

34%

33%

25%

19%

7%

3%

Simplify software management

Speed Implementation

Reduce capital and/or operating cost

Leverage SaaS provider's technology

Enable focus on core competencies

Improve service levels

Reduce risk

What are the business benefits of Cloud Solutions?

Improve internal/external collaboration

Access next-generation application functionality

Convert fixed IT costs to variable costs

Increase Revenue

Other

What do you expect are the business benefits from adopting Software as a Service (SaaS) solutions?



Speed of implementation rose from sixth to third place on the list of expected benefits. Just as SaaS solutions make enterprise-grade solutions like CRM affordable for SMBs, so does the shorter time it takes to deploy cloud applications. Compared to on-premise systems, the SaaS model reduces implementation costs and decreases time to value; thus speed of implementation combines aspects of the top two expected benefits—simpler software management and overall cost reduction—but, by itself, it is less important as a driver of the adoption decision. Other expected benefits that did not rank high but were compelling include better remote access, user-friendly and easy access dashboards facilitate reporting, and improved visibility into reporting metrics.

Concerns of Implementing Cloud Solutions Respondents rated their concerns about adopting a cloud financial solution. Rankings are shown in the chart below.

0% 10% 20% 30% 40% 50% 60% 70%

59%

51%

41%

26%

21%

21%

12%

11%

8%

Security concerns

Total cost concerns

Integration challenges with other applications

Application performance

Other

What are your top concerns about cloud computing?

We can't find the specific functionality we need

Difficulty and risk of migration or installation

Complicated pricing models

We're locked in financially with our current vendor

What are your top concerns about cloud computing?


Findings on Concerns: • The top four responses (security concerns, integration challenges with other applications, total

cost concerns, and application performance) all relate to what the SaaS vendor provides, while the bottom four relate to challenges the purchaser must manage internally

• Several “other” responses indicated concerns with trusting their data to a vendor whose long-term financial viability is not guaranteed

• Security, the second-highest concern (44%) in 2012, became the top concern for respondents in 2013 (59%)

• Application performance moved out of the top three concerns this year. Respondents are becoming more comfortable with the performance of cloud computing applications

• For some, their top concern was missing out on SaaS because of financial lock-in with their current vendor. This is the smallest group of responses for both 2012 and 2013. It partially explains the number (18%) that indicated that they don’t intend to use SaaS in the future


Leading cloud finance vendors are compliant with the top standards. That standard is the AICPA’s SSAE 16 (formerly SAS 70) and its Service Organization Control reports.4 It is the marker that the software publisher has strong protections and metrics for privacy, uptime, security, availability, processing integrity, and confidentiality. Achieving the standard requires vendors to spend millions of dollars on their data centers and on security technologies. Few SMBs can afford to do the same. Cloud solutions allow customers to take advantage of the best security for a low cost.

SAS 70 was originally designed as a report from auditor to auditor on the vendor’s internal controls, not as a report to the marketplace. The new SSAE 16 standard requires more detailed documentation of the vendor’s internal controls, sworn to by management, and thereby gives purchasers more grounds for trust and confidence in their cloud computing solutions. It also aligns reporting standards with globally accepted accounting principles. SSAE 16 certification is important to customers planning to expand internationally.


Integrating Cloud Solutions This year, the Cloud Accounting Institute Benchmark Study added three new questions to address integration challenges—a consistent, top-ranking concern for respondents.

Findings on Integration Management: • Responses are spread almost evenly across all categories. The top response: 36% manage

in-house with Application Programming Interface (API) plug-ins

• 34% outsource integration to a third party and 33% ask their cloud vendor to manage integration with new solutions


APIs are what enable you to connect applications at the transactional or service-call level to perform specific functions such as storage, data access and computation. Cloud applications are essentially combinations of APIs and web services. Cloud publishers realized from the start that they had to enable customers to interface the cloud application with their websites or other applications, and they have become very good at writing open APIs.

The top response in this category—using API plug-ins in-house—signals that users are comfortable with the integration method native to cloud environments. The other two options—outsourcing to a third-party integrator or using vendor services—are more characteristic of users integrating with a hosted application or building a hybrid public/private cloud. These two options are more costly, even if published, open, and downloadable APIs are available for both systems. If they are not, writing the interfaces will involve custom programming and greater expense.

0% 10% 20% 30% 40%

35%

31%

31%

11%

We ask our cloud vendor to manage integration with new solutions

We outsource integration to a third-party specialist

Other

4%

We manage in house with Application Programming Interface (API) plug-ins

Who maintains cloud software integration for your organization?

We manage in house, without API’s

How do you currently manage integration of cloud software solutions?

0% 10% 20% 30% 40%

36%

34%

33%

16%

We manage in-house with Application Programming Interface (API) plug-ins

We ask our cloud vendor to manage integration with new solutions

Other

We outsource integration to a third-party specialist

How do you currently manage integration of cloud software solutions?

Who maintains cloud software integration for your organization?


Findings on Maintaining Cloud Software Integration: • Again, responses are spread almost evenly across the three categories. The top response:

35% ask their cloud vendor to maintain application integrations during upgrades

• Outsourcing to a third party is the least-used method (31%)

• Several “other” responses indicated that they manage the upgrade in house, but without API plug-ins


Many cloud vendors partner with other developers in their space and mutually maintain their APIs. They coordinate new releases between themselves, so their mutual customer never has to be concerned with whether upgrades will integrate. Even when a customer configures and integrates cloud applications independently using vendor-supplied API plug-ins, customizations don’t break during upgrades. Two-thirds of the survey respondents fit in one of these two categories.

Maintaining the integration between a cloud application and on-premises software during an upgrade cycle can be more problematic because open APIs are less common with legacy software. In addition, if the user has customized the legacy software at one release level, there is no guarantee that the modification will continue to work with the next release of the same software, much less that the new release will continue to work with the cloud application. This keeps third-party integrators in business, but it is costly for the customer.

0% 20%10% 30% 40% 50% 60% 70% 80%

70%

63%

63%

4%

A "single version of the truth" for improved management decision-making

Real-time reporting

Reduce duplicate data entry

What are the top benefits of tighter integration between cloud solutions?

Other

What are the top benefits of tighter integration between cloud solutions?


Findings on Benefits of Tight Integration between Cloud Solutions: • The top benefit (65%) of tighter integration between cloud solutions is a “single version of

the truth” for improved management decision-making

• The majority (over 50%) found each response to be a top benefit


Much of the immediate ROI from cloud solutions derives from the labor savings, productivity increases, and improved data accuracy that comes from integrating applications to reduce or eliminate duplicate data entry. Having a “single version of the truth” for decision making takes a business to a higher level altogether, and real-time reporting (via queries, consolidations, or dashboards) is what makes it happen. Increasingly, businesses of all sizes depend on virtual teams working in dispersed locations. Integrated operations with “a single version of the truth” have an efficiency advantage.

Satisfaction Levels: Current Financial System Respondents gave their feedback on their satisfaction with their current financial systems. We asked them how efficient their current system was on a number of factors. Results are shown below.

Providing financial information to decision makers

Adapting to changing business or process requirements

Recording transactions according to GAAP

Maintaining an effective internal control structure and process

Publishing complete and relevant information to stakeholders

Optimizing business processes

Reducing process inefficiencies

Improving ROI

Reducing fraudulent transactions

Managing performance in the context of business risk

1 (Terrible) 2 (Poor) 3 (Average) 4 (Good) 5 (Excellent)

19%

26%

6%

4%

4% 28% 41% 17% 10%

4% 21%

10%

20% 47% 24% 7%

53% 25% 11%

44% 21% 10%

5% 28% 38% 19% 10%

12%

24% 38% 22% 12%

41% 31% 14%

40% 38% 16%

37% 24% 11%

37% 29% 13%2%2%

2%2%

How efficient and effective is your current system at...


Findings on Current Financial System Satisfaction: • For purposes of comparison, this question set was modeled on one from Saugatuck

Technology’s 2008 survey

• The largest group of respondents in every category rated their current system as Average

• The largest concentration of Terrible and Poor responses clusters around “optimizing business processes” (33% combined) and “reducing process inefficiencies” (32% combined). In 2012, these two factors also received the lowest ratings but drew fewer responses (25% and 27% respectively); the 2013 ratings indicate mounting dissatisfaction in this area


The fact that the greatest points of dissatisfaction relate to business process efficiency reinforces the impression conveyed by the main expected benefits (see page 7). The top drivers of SaaS upgrade decisions among SMB respondents are practical, tangible, and pay off in the near term.

Great Expectations: SaaS SolutionsAfter asking about current financial system satisfaction, we asked respondents to give us feedback on how efficient and effective they expected a SaaS/cloud solution to be, using the same criteria.

2%2%

2%2%

2%3%

Providing financial information to decision makers

Adapting to changing business or process requirements

Recording transactions according to GAAP

Maintaining an effective internal control structure and process

Publishing complete and relevant information to stakeholders

Optimizing business processes

Reducing process inefficiencies

Improving ROI

Reducing fraudulent transactions

Managing performance in the context of business risk

1 (Terrible) 2 (Poor) 3 (Average) 4 (Good) 5 (Excellent)

12%

15%

25%

24% 41% 32%

5%

35%

39% 36% 22%

37% 25%

28% 32% 35%

17% 46% 34%

23%

20% 42% 38%

47% 29%

40% 35%

52% 31%

50% 38%

How efficient and effective do you expect a SaaS/cloud solution to be at…


Findings on Current Financial System Satisfaction: • The largest group of respondents in every category rated their expected SaaS solution as Good

on all criteria except two: “publishing complete and relevant information to stakeholders” was rated Excellent and “managing performance in the context of business risk” was rated Average

• SaaS was rated as Excellent (38%) and Good (50%) at “providing financial information to decision makers” for a combined total of 88% of the responses

• The next highest combined satisfaction rating is for “adapting to changing business or process requirements,” which got a Good rating from 52% of respondents and an Excellent rating from 30%, for a combined total of 83%. Last year, the comparable total was 79%

• Respondents were more than twice as likely to give an Excellent rating to SaaS than to their current system


Across the board, respondents expect SaaS solutions to perform more efficiently and effectively than their current system; the difference is pronounced when you look at “optimizing business processes” and “reducing process inefficiencies.” A third of the respondents rated these factors as Terrible and Poor when describing their satisfaction with current systems; by contrast, only 3.3% of respondents applied either rating to their expectations for SaaS solutions.

An emphasis on increasing business process efficiency is a mark of the current economic climate, where the recession is fading away and cautious optimism is returning. Preparing for increased demand or market expansion by eliminating wasted money, time, and labor makes great sense now.

Appendix

About the StudyThe Cloud Accounting Institute conducted the second annual benchmark study in Q1 2013. For purposes of comparison, the question set was modeled after the Saugatuck Technologies study, with some modifications. The survey was distributed to professionals in the finance and accounting industries through multiple lists and associations, including the Institute of Management Accountants (IMA), the University of Missouri – Columbia School of Accounting, and several CFO lists.

List of questions asked with answer choices below: 1. What is your job title? a. CEO b. CFO c. VP of Finance d. Controller e. Other

2. Do you currently use any cloud solutions, technologies, or Software as a Service (SaaS)? a. Yes b. No

3. If yes, what solutions? a. Accounting/Financial Management b. Budgeting/Forecasting/Corporate Performance Management c. Consolidation d. ERP e. Business Intelligence f. Front-end Applications such as CRM and Web Portal Development Tools g. Other

4. Do you intend to use Cloud or Software as a Service for accounting solutions in the future? a. Yes b. No

5. If yes, what solutions? a. Accounting/Financial Management b. Budgeting/Forecasting/Corporate Performance Management c. Consolidation d. ERP e. Business Intelligence f. Front-end Applications such as CRM and Web Portal Development Tools g. Other



6. What do you expect are the business benefits from adopting Software as a Service (SaaS) solutions? a. Reduce capital and/or operating cost

b. Simplify software managementc. Improve service levelsd. Speed implementatione. Enable focus on core competenciesf. Convert fixed IT costs to variable costsg. Reduce riskh. Increase revenuei. Improve internal and external collaborationj. Access next-generation application functionality not available in current softwarek. Leverage SaaS provider’s leading-edge technologyl. Other

7. What are your top concerns about cloud computing?a. Security concernsb. Integration challenges with other applicationsc. Total cost concerns (i.e., total cost of ownership)d. We can’t find the specific functionality we need e. Difficulty and risk of migration or installation f. Application performanceg. Complicated pricing modelsh. We’re locked in financially with our current vendori. Other

8. How efficient and effective is your current system at…a. Providing financial information to decision makersb. Adapting to changing business or process requirements c. Recording transactions according to GAAP d. Maintaining an effective internal control structure and processe. Publishing complete and relevant information to stakeholdersf. Optimizing business processesg. Reducing process inefficienciesh. Improving ROI i. Reducing fraudulent transactionsj. Managing performance in the context of business risk

9. How efficient and effective do you expect a SaaS/cloud solution to be at…a. Providing financial information to decision makersb. Adapting to changing business or process requirements c. Recording transactions according to GAAP d. Maintaining an effective internal control structure and processe. Publishing complete and relevant information to stakeholdersf. Optimizing business processesg. Reducing process inefficienciesh. Improving ROI i. Reducing fraudulent transactionsj. Managing performance in the context of business risk


10. How do you currently manage integration of cloud software solutions?a. We manage in-house with Application Programming Interface (API) plug-insb. We outsource integration to a third-party specialistc. We ask our cloud vendor to manage integration with new solutionsd. Other

11. Who maintains cloud software integration for your organization to ensure it will upgrade?a. We manage in-house with Application Programming Interface (API) plug-insb. We outsource integration to a third-party specialistc. We ask our cloud vendor to manage integration with new solutionsd. Other

12. What are the top benefits of tighter integration between cloud solutions?a. Reduce duplicate data entryb. Real-time reportingc. A “single version of the truth” for improved management decision-making d. Other

13. How many employees does your company have?a. 1 – 10 b. 11 – 25 c. 26 – 100d. 100 – 500 e. More than 500

14. What is your current accounting and financial management system?a. QuickBooksb. Microsoft Dynamics GP (Great Plains)c. Intacct

15. How many are active users of your accounting and financial management applications?a. 1 – 5 b. 6 – 10 c. 11 – 30d. More than 30

16. Do you have users in remote locations?a. Yes b. No


Demographics• In Q1 2013, the Cloud Accounting Institute conducted a national, online survey of finance

and accounting professionals

• The survey drew 119 self-selected respondents who replied anonymously, compared to 63 for the 2012 Benchmark Study

•Most respondents are CFOs (23%) or Controllers (25%)

•Survey respondents represent a full range of company sizes: 26 – 100 employees (36%), 100 – 500 employees (21%), and more than 500 employees (16%)

• Almost half of respondents (49%) represent companies with five or fewer active users of financial apps

• The majority of respondents (70%) support users in remote locations

• The majority of respondents (58%) are currently using QuickBooks and their accounting and financial management system, followed by Microsoft Dynamics GP (26%), and Intacct (16%)

CompanySize

How many employees does your company have? 1-10 (15%)

11-25 (12%)

26-100 (36%)

100-500 (21%)

More than 500 (16 %)

1http://www.forbes.com/sites/louiscolumbus/2013/02/19/gartner-predicts-infrastructure-services-will-accelerate-cloud-computing-growth/

2Saugatuck Technologies, “Saugatuck’s 2012 Global Cloud Business Survey: Data Report,” Special Abridged Version (7.1), March 21, 2012

3http://saugatucktechnology.com/blog/entry/1168ra-2013-year-of-transition.html

4http://www.ssae16.org/what-is-ssae-16/why-a-new-standard.html

What is your job title? Controller (25%)

CFO (23%)

Other (18%)

CEO/President (14%)

VP/Director of Finance (11%)

VP/Other (6%)

IT/CIO (3%)

Job Title

Accounting & Financial

Management System

What is your current accounting & financial management system?

Quickbooks (27%)

Microsoft Dynamics GP (11%)

Intacct (7%)

SAP (7%)

Microsoft Dynamics SL (5%)

Other Microsoft (5%)

Other (38%)

Number ofActive Users

How many are active users of your accounting and financial management applications? 1-5 (49%)

6-10 (17%)

11-30 (17%)

More than 30 (17%)

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Lindy Antonelli, Chairman & Executive Director

Cloud Accounting Institute 1700 Park Street Ste 111, Naperville, IL 60563P: 630.868.5000E: [email protected]

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