Editor's note

Supplement issue 6

September 2023

Follow IAB on twitter @WAI_News

Get ahead in the Cloud

Organisations looking to invest in Cloud computing over the next year have been reassessing IT spend as they consider how to best utilise cloud services, rather than overcommitting to software purchases and running up big tabs. The market model for accessing cloud platforms and services is also mutating, with Tech giants reporting that the incorporation of AI is contributing to this shift in investment spend.

Alongside this, according to Industry Research, the global Cloud Accounting Software market was valued at USD 4,144.0 million in 2022 and it is expected to expand at a CAGR of 10.56% over the next few years, reaching USD 7,567.54 million by 2028.

In light of these trends, this supplement focusses on developments in cloud computing and applications to the accountancy sector.

In this issue, read a Thought Leadership piece by Jay Overcash, director of IT Security Strategy at AICPA® & CIMA® on the importance of implementing a solid Governance structure around cloud services; a case study highlights the benefits of AICPA® & CIMA®’s CGMA® Finance Leadership Programme (FLP); an article by Kris Cooper, Thematic trainee reporter at GlobalData, explores trends in cloud accounting integration offering real-time savings and efficiencies; the importance of Cloud computing as digital best practice within the public sector is discussed by Alison King, Senior Account Director for the NHS & UK Government at CTS; Employment Hero’s head of UK payroll, Suzanne Gallagher, reflects on the findings of a survey looking changing client demands over the past year and how well-built cloud solutions can assist; in response to emergent trends in accounting M&As, Rich Neal, CEO at MyWorkpapers, discusses the need to critically assess the value of accounting technology as part of the business’ value; in ‘A Tale of Synergy’, IAB reporter Santiago Bedoya-Pardo delves into how cloud technology has reshaped the generative AI enhancements within Oracle's CX suite; Emma Taylor, Thematic Intelligence Senior Analyst, GlobalData, discusses how risk integration and rigorous testing are crucial to a successful cloud migration; and, finally, focussing on well-being in the profession, experts at Nuffield Health discuss the findings of their research, revealing that only 36 percent of employees are getting a good night’s rest, but, noticeably, the IT and finance industries rated their sleep the highest.

We look forward to hearing your thoughts on how Cloud platforms and services are shaping your organisation’s growth.

Do also get in touch to participate in IAB’s upcoming supplement, AI within Accounting.

Zoya Malik
Editor-in-Chief, Financial Services Practice, GlobalData & Editor, International Accounting Bulletin