THE CASE FOR THE CLOUD

BUSINESSES ARE REALIZING THE BENEFITS OF THE CLOUD

IS THE TAX & ACCOUNTING PROFESSION REALIZING THE BENEFITS OF THE CLOUD?

It was predicted that by 2015, business spending on cloud services could reach $180 billion worldwide1.

The top three benefits for businesses in adopting cloud technologies are: Improved business efficiencies / higher productivity, cost reductions, and faster innovation cycles2:

The top three challenges for businesses in adopting cloud technologies over the next three years are: Security/privacy governance, displacement of existing tech roadmap, and technology complexity2.

How likely are you to implement a Web Hosted / Cloud-Based / Software as a Service version of one or more of your firm’s tax and accounting applications over the next two years3?.

Of 309 responding firms3: Top four technology challenges you face managing your practice in the next 1-3 years3:• Workflow and efficiency• Getting your clients working in more digital way, • Creating a paperless firm• Which applications to move to the cloud.

WHERE DO THOMSON REUTERS FIRMS STAND?

How likely is your firm to implement a web hosted or cloud-based version of your business accounting software over the next two years4?

How likely will it be for the majority of your business clients to implement a web hosted or cloud-based version of their small business accounting software over the next two years4?

How likely are you to implement a web hosted / cloud-based / Software as a Service (SaaS) version of one or more of your firm’s tax and accounting applications over the next two years5?

Sources:1 Gartner, Inc. 2 KPMG Technology Innovation Survey, 2013 3 NMGI Accounting Firm Operations and Technology Survey and EBook, 20144 Thomson Reuters Accounting CS User Survey, 2014 5 Thomson Reuters UltraTax CS User Survey, 2014

14.3%Very likely

17.4%Somewhat

likely17.4%

Neutral

21.7%Not likely

20.9%Not at

all likely 8.1%Already

do

59% are currently using

services or applications that

could be defined as cloud computing.

52% used a web portal to

share files or documents

with clients.

Very likely —Likely —

50/50 —Unlikely —

Very unlikely —Already using —

25%

31%

21%

14%

4% 5%

Very likely —Likely —

50/50 —Unlikely —

Very unlikely —Already using — 38%

21%31%

2% 5%3%

Very likely —Likely —

50/50 —Unlikely —

Very unlikely —Already using —

17%

27%

30%

15%

5% 6%

35% identified their website as a channel that

brings their firms new clients.