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You’ve probably heard about the advantages of using cloud technologies and how they’re particularly useful for financial management with improved accessibility, flexibility, and collaboration. You may also feel cautious about adopting cloud tools when it means moving away from traditional accounting systems.

A peer-reviewed study, recently published in Humanities and Social Sciences Communications by Giang Nguyen Phu of Thuongmai University, shared interesting insights about the shift. The study used data from 172 businesses in Vietnam’s stock exchange and explored how these companies decided to adopt cloud technology for financial management. 

The findings outlined five critical areas for consideration.

When your organization has invested in a Sage product, you want to get the most out of your software. Whether you’re new to Sage or already using one of their products like Sage Intacct or Sage 300 for your financial management system, it’s important to understand the different types of support and training available to you that can help you work more efficiently.

The accounting industry as we know it is on the brink of a major shift driven by the rapid integration of AI. As we look to the future, AI is poised to redefine the role of accountants. Rather than performing traditional bookkeeping and financial reporting tasks, accounting professionals will become strategic advisors who drive business growth.

Sage partnered with Forrester Consulting to conduct a study of over 2,300 accounting decision-makers in SMBs across the globe. With this research, we are bringing you five main predictions for a big-picture look at how AI will impact accounting in SMBs in the years to come.

Risk 4: Technology Inflation Is a One-Way Street

Risk 3: Security is Insecure

Risk 2: Remote Work is Putting You at Increased Risk

Risk 1: Your Business is Hanging by a Chip