Cloud infrastructure could become a worthy investment for small and medium business operators (SMEs) across Australia, with research from MYOB finding that SMEs that embrace cloud computing and business websites are ‘much more likely’ to enjoy rising revenue than others.
The financial gap between the online-savvy and online cautious was found to be widening in the March 2013 MYOB Business Monitor.
In the latest study of over 1,000 SMEs, only 16 per cent they used cloud computing in business (up on 14 per cent in the July 2012 report).
Businesses that made use of cloud were 106 per cent more likely to see revenue rise in the past year than those who didn’t (up on 53 per cent in July). Those with a website were also 60 per cent more likely to see a revenue rise (up on 53 per cent).
MYOB chief executive officer Tim Reed said that it was obvious that as time goes on, Australian business operators using cloud computing are “increasingly likely” to achieve positive financial results.
“That said, I’m surprised fewer than one in every six say they use cloud in business. This ubiquitous technology has helped so many smaller businesses become better connected, more productive and more competitive,” Mr Reed said.
He said that MYOB’s research findings provide a “clear cut case” for embracing online technologies in business.
“It’s also clear the majority are unaware of the value in having even a simple website that contains their contact details,” Mr Reed said.
“Many businesses have first-hand experience of the benefits of being found online, being able to attract and retain customers in this way. Our research proves it can have a tremendously positive financial effect.”
MYOB found that those using cloud solutions were more likely to plan to increase in the following activities in the next year than those who don’t use cloud: focus on customer retention/acquisition strategies, work with business adviser to enhance the business, pay their employees more and boost staff numbers this year.