WhitePaper_BenchmarkStudy_2013

7/28/2019 WhitePaper_BenchmarkStudy_2013

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Cloud Solutions Best Practices:

2013 Benchmark StudyResults and Analysis rom the Cloud Accounting Institute


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

Table o Contents

Study Background and Highlights...........................................................................................3

Cloud Adoption Status: Past, Present, and Future ....................................................................4

Types o Solutions ....................................................................................................5

Comparison to Saugatuck 2012 Survey ......................................................................6

Expected Benets o Cloud Solutions......................................................................................7

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

Integrating Cloud Solutions.................................................................................................. 10

Management ...........................................................................................................10Maintenance ...........................................................................................................10

Benefts .................................................................................................................11

Current System Satisaction Levels .......................................................................................12

Expectations or Cloud Solutions ..........................................................................................13

Aix:

About the Study .................................................................................................................14Survey Questions .....................................................................................................14

Demographics/Classifcations....................................................................................17

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

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


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Background

In Q1 2013, the Cloud Accounting Institute (CAI) conducted a national survey o nancial and

accounting proessionals concerning their current and intended uture use o cloud solutions,

commonly known as Sotware as a Service (SaaS) applications delivered through a public cloud.

The survey is the basis or this benchmark study o cloud technology practices, outlooks, and

trends based on the ollowing topics:

Cloud adoption status

Key expected benets of cloud solutions

Key concerns about cloud solutions

Expectations of cloud solutions

Integration

In addition, this report benchmarks some ndings against the Cloud Accounting Best Practices

2012 Benchmark Study to identiy emerging trends and established practices.

To view a complete list o survey questions and survey respondent demographics, reer to the appendix.

Study Highlights

The rate o 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 efciency; the demand for more efcient

business processes is a major theme in this years survey


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Cloud Adoption Status: Past, Present,

and Future

As in the previous 2012 study, respondents were asked to indicate whether they currently utilize

cloud nancial solutions, and i they intend to use them in the uture. Below is a comparison o

the 2012 and 2013 ndings on the current and expected usage o 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 years survey found that 82% intend to use cloud or SaaS for accounting solutionsin the future (compared to 83% in 2012)

2012

Yes52%

No 48%

Yes 75%

No 25%

2013

2012

Yes 83%

No 17%

2013

Yes 82%

No 18%

Do you currently useany cloud solutions,technologies, or Sotwareas a Service (SaaS)?

Do you intend to useCloud or Sotware as aService or accountingsolutions in the uture?


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Cloud Accounting Insight:

Cloud use increased a dramatic 43% rom 2012 to 2013. At the same time, the percentage o

respondents who intendto use cloud-based SaaS accounting solutions in the uture remained the same

or both years82%. So while the rate o adoption is growing rapidly, the percentage o non-adopters

seems xed 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 eld.

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)

Business Intelligence

Consolidation

Budgeting/Forecasting/Corporate Performance Management

HR

Storage

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


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Findings on Type o 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 o small to midsize businesses (SMBs), Accounting and Financial Management represent

the most widely used types o cloud application. Also, Accounting/Financial Management topped the

list o intended uture cloud-based purchases (71%), ollowed by Budgeting/Forecasting/Corporate

Perormance Management (51%); once businesses can align CRM with accounting and perormance

tracking along an innitely fexible cloud backbone, business agility will increase at a phenomenal rate.

Illustrating both the similarity and dierences between SMB and enterprise adoptions, Gartner

ound 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 Technologys 2012

Global Cloud Business Sotware Survey to compare cloud adoption rates.2 Saugatuck projected

that demand or SaaS Finance/Accounting solutions would grow at the rate o 12% in 2012 and

15% in 2013. Our 2013 survey results clearly indicate that the market grew aster than expected.

The current Saugatuck Strategic Planning Position states: Through 2016, 75% or more o

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 / PlanningGovernance, 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 Sotware Purchase Plans


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Expected Benefts o Implementing

Cloud Solutions

Respondents were questioned as to what benets they expected rom adopting a cloud nancial

solution. Top expected benets rom respondents are shown in the chart below.

Findings on Expected Benefts:

The top three expected benets 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 benet

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

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 benefts rom adoptingSotware as a Service (SaaS) solutions?


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Speed o implementation rose rom sixth to third place on the list o expected benets. Just as SaaS

solutions make enterprise-grade solutions like CRM aordable or 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 o implementation combines aspects

o the top two expected benetssimpler sotware management and overall cost reductionbut, by

itsel, it is less important as a driver o the adoption decision. Other expected benets that did not

rank high but were compelling include better remote access, user-riendly and easy access dashboards

acilitate reporting, and improved visibility into reporting metrics.

Concerns o Implementing Cloud Solutions

Respondents rated their concerns about adopting a cloud nancial 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

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?


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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 whoselong-term nancial 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 nancial 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 dont intend to use SaaS in the future


Leading cloud nance vendors are compliant with the top standards. That standard is the AICPAs

SSAE 16 (ormerly SAS 70) and its Service Organization Control reports.4 It is the marker that

the sotware publisher has strong protections and metrics or privacy, uptime, security, availability,

processing integrity, and condentiality. Achieving the standard requires vendors to spend millions

o dollars on their data centers and on security technologies. Few SMBs can aord to do the same.

Cloud solutions allow customers to take advantage o the best security or a low cost.

SAS 70 was originally designed as a report rom auditor to auditor on the vendors internal controls,

not as a report to the marketplace. The new SSAE 16 standard requires more detailed documentation

o the vendors internal controls, sworn to by management, and thereby gives purchasers more grounds

or trust and condence in their cloud computing solutions. It also aligns reporting standards with

globally accepted accounting principles. SSAE 16 certication is important to customers planning

to expand internationally.


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Integrating Cloud Solutions

This year, the Cloud Accounting Institute Benchmark Study added three new questions to address

integration challengesa consistent, top-ranking concern or 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 perorm

specic unctions such as storage, data access and computation. Cloud applications are essentially

combinations o APIs and web services. Cloud publishers realized rom the start that they had to

enable customers to interace the cloud application with their websites or other applications, and

they have become very good at writing open APIs.

The top response in this categoryusing API plug-ins in-housesignals that users are comortable

with the integration method native to cloud environments. The other two optionsoutsourcing to a

third-party integrator or using vendor servicesare more characteristic o users integrating with a

hosted application or building a hybrid public/private cloud. These two options are more costly, even

i published, open, and downloadable APIs are available or both systems. I they are not, writing the

interaces 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

We manage in house, without APIs

How do you currently manage integration o cloud sotware 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

Who maintains cloud sotware integration or your organization?


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Findings on Maintaining Cloud Sotware 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 congures and integrates cloud

applications independently using vendor-supplied API plug-ins, customizations dont break during

upgrades. Two-thirds o the survey respondents t in one o these two categories.

Maintaining the integration between a cloud application and on-premises sotware during an upgrade

cycle can be more problematic because open APIs are less common with legacy sotware. In addition,

i the user has customized the legacy sotware at one release level, there is no guarantee that the

modication will continue to work with the next release o the same sotware, 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 or 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

Other

What are the top benefts o tighter integration between cloud solutions?


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Findings on Benefts o Tight Integration between Cloud Solutions:

The top benet (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 benet


Much o the immediate ROI rom cloud solutions derives rom the labor savings, productivity increases,

and improved data accuracy that comes rom integrating applications to reduce or eliminate duplicate

data entry. Having a single version o the truth or 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 o all sizes depend on virtual teams working in dispersed

locations. Integrated operations with a single version o the truth have an eciency advantage.

Satisaction Levels: Current Financial System

Respondents gave their eedback on their satisaction with their current nancial systems. We asked

them how ecient their current system was on a number o actors. Results are shown below.

Providing financial information to decision makersAdapting 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 efcient and eective is your current system at...


13/19


Findings on Current Financial System Satisaction:

For purposes of comparison, this question set was modeled on one from Saugatuck

Technologys 2008 survey

The largest group of respondents in every category rated their current system asAverage

The largest concentration ofTerribleandPoorresponses clusters around optimizing businessprocesses (33% combined) and reducing process inefciencies (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 act that the greatest points o dissatisaction relate to business process eciency reinorces the

impression conveyed by the main expected benets (see page 7). The top drivers o SaaS upgrade

decisions among SMB respondents are practical, tangible, and pay o in the near term.

Great Expectations: SaaS Solutions

Ater asking about current nancial system satisaction, we asked respondents to give us eedback

on how ecient and eective 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 efcient and eective do you expect a SaaS/cloud solution to be at


14/19


Findings on Current Financial System Satisaction:

The largest group of respondents in every category rated their expected SaaS solution asGood

on all criteria except two: publishing complete and relevant information to stakeholders was

ratedExcellentand managing performance in the context of business risk was ratedAverage

SaaS was rated asExcellent(38%) andGood(50%) at providing nancial information todecision 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 aGoodrating from 52% of respondents and anExcellentrating

from 30%, for a combined total of 83%. Last year, the comparable total was 79%

Respondents were more than twice as likely to give anExcellentrating to SaaS than to

their current system


Across the board, respondents expect SaaS solutions to perorm more eciently and eectively than

their current system; the dierence is pronounced when you look at optimizing business processes

and reducing process ineciencies. A third o the respondents rated these actors as Terribleand

Poorwhen describing their satisaction with current systems; by contrast, only 3.3% o respondents

applied either rating to their expectations or SaaS solutions.

An emphasis on increasing business process eciency is a mark o the current economic climate,

where the recession is ading away and cautious optimism is returning. Preparing or increased

demand or market expansion by eliminating wasted money, time, and labor makes great sense now.


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Appendix

About the StudyThe Cloud Accounting Institute conducted the second annual benchmark study in Q1 2013.

For purposes o comparison, the question set was modeled ater the Saugatuck Technologies study,

with some modications. The survey was distributed to proessionals in the nance and accounting

industries through multiple lists and associations, including the Institute o Management Accountants

(IMA), the University o Missouri Columbia School o Accounting, and several CFO lists.

List f qustis ask with asw chics lw:

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 Sotware as a Service (SaaS)?

a. Yes

b. No

3. I 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 Sotware as a Service or accounting solutions in the uture?

a. Yes

b. No

5. I 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



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6. What do you expect are the business benets rom adopting Sotware as a Service (SaaS) solutions?

a. Reduce capital and/or operating cost

b. Simplify software management

c. Improve service levels

d. Speed implementation

e. Enable focus on core competencies

f. Convert xed IT costs to variable costsg. Reduce risk

h. Increase revenue

i. Improve internal and external collaboration

j. Access next-generation application functionality not available in current software

k. Leverage SaaS providers leading-edge technology

l. Other

7. What are your top concerns about cloud computing?

a. Security concerns

b. Integration challenges with other applications

c. Total cost concerns (i.e., total cost of ownership)d. We cant nd the specic functionality we need

e. Difculty and risk of migration or installation

f. Application performance

g. Complicated pricing models

h. Were locked in nancially with our current vendor

i. Other

8. How ecient and eective is your current system at

a. Providing nancial information to decision makers

b. Adapting to changing business or process requirements

c. Recording transactions according to GAAPd. Maintaining an effective internal control structure and process

e. Publishing complete and relevant information to stakeholders

f. Optimizing business processes

g. Reducing process inefciencies

h. Improving ROI

i. Reducing fraudulent transactions

j. Managing performance in the context of business risk

9. How ecient and eective do you expect a SaaS/cloud solution to be at

a. Providing nancial information to decision makers

b. Adapting to changing business or process requirements

c. Recording transactions according to GAAP

d. Maintaining an effective internal control structure and process

e. Publishing complete and relevant information to stakeholders

f. Optimizing business processes

g. Reducing process inefciencies

h. Improving ROI

i. Reducing fraudulent transactions

j. Managing performance in the context of business risk


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10. How do you currently manage integration o cloud sotware solutions?

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

b. We outsource integration to a third-party specialist

c. We ask our cloud vendor to manage integration with new solutions

d. Other

11. Who maintains cloud sotware integration or your organization to ensure it will upgrade?

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

b. We outsource integration to a third-party specialist

c. We ask our cloud vendor to manage integration with new solutions

d. Other

12. What are the top benets o tighter integration between cloud solutions?

a. Reduce duplicate data entry

b. Real-time reporting

c. 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. 26 100

d. 100 500

e. More than 500

14. What is your current accounting and nancial management system?

a. QuickBooks

b. Microsoft Dynamics GP (Great Plains)

c. Intacct

15. How many are active users o your accounting and nancial management applications?

a. 1 5

b. 6 10

c. 11 30

d. More than 30

16. Do you have users in remote locations?

a. Yesb. No


18/19


Demographics

In Q1 2013, the Cloud Accounting Institute conducted a national, online survey o nance

and accounting proessionals

The survey drew 119 sel-selected respondents who replied anonymously, compared to 63 or

the 2012 Benchmark Study

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

Survey respondents represent a ull range o company sizes: 26 100 employees (36%),

100 500 employees (21%), and more than 500 employees (16%)

Almost hal o respondents (49%) represent companies with ve or ewer active users o nancial apps

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

The majority o respondents (58%) are currently using QuickBooks and their accounting and

nancial management system, ollowed by Microsot Dynamics GP (26%), and Intacct (16%)

Company

Size

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.orbes.com/sites/louiscolumbus/2013/02/19/gartner-predicts-inrastructure-services-will-accelerate-cloud-computing-growth/

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

3http://saugatucktechnology.com/blog/entry/1168ra-2013-year-o-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 accountin

& financial management syste

Quickbooks (27%)

Microsoft Dynamics GP (11%)

Intacct (7%)

SAP (7%)

Microsoft Dynamics SL (5%)

Other Microsoft (5%)

Other (38%)

Number of

Active 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%)


19/19

Follow Uswww.CloudAccountingInstitute.org

Li Atlli,Chairman & Executive Director

Clu Accutig Istitut

1700 Park Street Ste 111, Naperville, IL 60563

P: 630.868.5000

E: [email protected]

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