Latest MYOB Research: SME Cloud Users Much More Likely to See Financial Success
Sydney, Australia, September 12, 2012 --(PR.com)-- New SME research from MYOB has revealed small and medium businesses using the cloud are much more likely to experience positive financial and operational results. They are also more likely to expect such results in future.
One key finding was that those using cloud technologies for business were 53% more likely to see a revenue rise in the past year, indicating the rewards are waiting for those who are ready to embrace cloud computing.
MYOB, which offers the MYOB Live suite of cloud solutions, commissioned independent market research firm Colmar Brunton to conduct a nationally representative survey of 1,000+ SMEs. Only 14% said they used the cloud for business. 79% said they did not use it and 8% did not know.
Respondents’ gap in understanding of the cloud computing concept brings into question whether their sector’s information needs are aligned with the technology industry’s educational desires.
MYOB CEO Tim Reed says, “Despite the technology industry’s best efforts to teach others about the concept of cloud computing, our research shows a disconnect between SME cloud usage and their understanding of it. I question whether we need to rethink our educational direction when encouraging their move to the cloud.
“Four in five say they don’t use the cloud for business. This is surprising given the prolific use of internet banking and email, to give straightforward examples. Many more business operators leverage cloud technology than give themselves credit for, they just don’t realise.
“The key to encouraging mass adoption of newer and more advanced cloud products and services is to advocate the productivity and financial benefits to a much greater extent than the technology behind it. Put simply, the cloud is already changing business for the better – it has been doing so for years – and is now providing access to even more powerful business tools that improve the way we work.
“It is really encouraging to see our research uncover the significant business performance results of those using cloud technologies in business. The mobility, flexibility and scalability benefits are life-changing for some people.
“Technology innovators and early adopters already get it; but cloud solutions are now ready for the mass market. Our clients and partners, many of whom already use cloud solutions, often tell me their main concern is how a technology will help them be more competitive and help make business life easier. I liken it to smartphones. Do most people care about how they work, or do they care about the business benefits a smartphone brings?”
Financial benefits of cloud usage
Mr Reed says, “The advantages of using cloud computing for business came through loud and clear in MYOB’s research. We found those doing so were 53% more likely to see a revenue rise last year. 26% of respondents who said they were using the cloud saw a revenue rise, compared to 17% of those who said they were not using it.”
There were numerous financial and operational result wins for cloud users. They were also more likely to:
· Have more sales/work than usual in their 3-month pipeline: 55% versus 25% of those not using the cloud
· Intend to grow their number/range of products or services in the next year: 48% versus 24%
· Expect their revenue to rise in the next year: 44% versus 26%
· Intend to increase their prices and margins on products/services sold this year: 37% versus 25%
· Intend to increase staff numbers this year: 35% versus 15%
· Expect the economy to improve within 12 months: 34% versus 18%
· Record revenue increases in the last 12 months: 26% versus 17%.
The MYOB Business Monitor cloud special report is available by request.
For more MYOB research results, business tips, discussions, product information, customer service and more visit http://myob.com.au, http://myob.com.au/blog and www.twitter.com/MYOBteam.
For further information, statistics or to arrange an interview please contact:
Kristy Sheppard
Manager - Public Relations, MYOB
02 9089 9068 / M: 0407 450 860 / kristy.sheppard@myob.com
About the MYOB Business Monitor
Established in 2004, the MYOB Business Monitor is a national survey of small and medium business owners and managers, commissioned to independent market research firm Colmar Brunton. The most recent study ran in May/June 2012, surveying 1,004 operators from sole traders to mid-sized companies representing the major industry sectors. The Monitor researches business performance such as profitability, cash flow, pipeline work, and mindset. Note: the weighting of MYOB client and non-client respondents is reflective of overall market proportions.
About MYOB
Established in 1991, MYOB is now Australasia’s largest business management software provider. Its 50+ products and services have helped more than one million businesses in Australia and New Zealand. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more. With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with their business partners and customers: www.myob.com.au/smarterconnections
One key finding was that those using cloud technologies for business were 53% more likely to see a revenue rise in the past year, indicating the rewards are waiting for those who are ready to embrace cloud computing.
MYOB, which offers the MYOB Live suite of cloud solutions, commissioned independent market research firm Colmar Brunton to conduct a nationally representative survey of 1,000+ SMEs. Only 14% said they used the cloud for business. 79% said they did not use it and 8% did not know.
Respondents’ gap in understanding of the cloud computing concept brings into question whether their sector’s information needs are aligned with the technology industry’s educational desires.
MYOB CEO Tim Reed says, “Despite the technology industry’s best efforts to teach others about the concept of cloud computing, our research shows a disconnect between SME cloud usage and their understanding of it. I question whether we need to rethink our educational direction when encouraging their move to the cloud.
“Four in five say they don’t use the cloud for business. This is surprising given the prolific use of internet banking and email, to give straightforward examples. Many more business operators leverage cloud technology than give themselves credit for, they just don’t realise.
“The key to encouraging mass adoption of newer and more advanced cloud products and services is to advocate the productivity and financial benefits to a much greater extent than the technology behind it. Put simply, the cloud is already changing business for the better – it has been doing so for years – and is now providing access to even more powerful business tools that improve the way we work.
“It is really encouraging to see our research uncover the significant business performance results of those using cloud technologies in business. The mobility, flexibility and scalability benefits are life-changing for some people.
“Technology innovators and early adopters already get it; but cloud solutions are now ready for the mass market. Our clients and partners, many of whom already use cloud solutions, often tell me their main concern is how a technology will help them be more competitive and help make business life easier. I liken it to smartphones. Do most people care about how they work, or do they care about the business benefits a smartphone brings?”
Financial benefits of cloud usage
Mr Reed says, “The advantages of using cloud computing for business came through loud and clear in MYOB’s research. We found those doing so were 53% more likely to see a revenue rise last year. 26% of respondents who said they were using the cloud saw a revenue rise, compared to 17% of those who said they were not using it.”
There were numerous financial and operational result wins for cloud users. They were also more likely to:
· Have more sales/work than usual in their 3-month pipeline: 55% versus 25% of those not using the cloud
· Intend to grow their number/range of products or services in the next year: 48% versus 24%
· Expect their revenue to rise in the next year: 44% versus 26%
· Intend to increase their prices and margins on products/services sold this year: 37% versus 25%
· Intend to increase staff numbers this year: 35% versus 15%
· Expect the economy to improve within 12 months: 34% versus 18%
· Record revenue increases in the last 12 months: 26% versus 17%.
The MYOB Business Monitor cloud special report is available by request.
For more MYOB research results, business tips, discussions, product information, customer service and more visit http://myob.com.au, http://myob.com.au/blog and www.twitter.com/MYOBteam.
For further information, statistics or to arrange an interview please contact:
Kristy Sheppard
Manager - Public Relations, MYOB
02 9089 9068 / M: 0407 450 860 / kristy.sheppard@myob.com
About the MYOB Business Monitor
Established in 2004, the MYOB Business Monitor is a national survey of small and medium business owners and managers, commissioned to independent market research firm Colmar Brunton. The most recent study ran in May/June 2012, surveying 1,004 operators from sole traders to mid-sized companies representing the major industry sectors. The Monitor researches business performance such as profitability, cash flow, pipeline work, and mindset. Note: the weighting of MYOB client and non-client respondents is reflective of overall market proportions.
About MYOB
Established in 1991, MYOB is now Australasia’s largest business management software provider. Its 50+ products and services have helped more than one million businesses in Australia and New Zealand. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more. With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with their business partners and customers: www.myob.com.au/smarterconnections
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MYOB Ltd
Angely Grecia
61 2 9089 9071
myob.com
Angely Grecia
61 2 9089 9071
myob.com
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