Cloud Accountancy: Stormy Weather or

Plain Sailing?Gregory Borchard

Director, MCB Accounting, Australia

Athens University of Economics and BusinessTuesday 17th June 2014

Background

Cloud Accounting Trends

Cloud Accounting Pioneers

• Xero (284K subscribers at 31 March 2014.  Currently 300K)  Commenced operations 2008

• FreshBooks (5 million subscribers).  Commenced operations January 2003

• Saasu

Popular traditional desktop providers now

providing cloud offerings:

• MYOB• Reckon• QuickBooks

Pros and Cons

Advantages• Basic computer requirements• Mobility• Different platforms• Security• Loss or theft of devices does not mean loss of data

• Automatic backup• Simplicity for small business;• Bank feeds

Disadvantages• Internet connection required• Security• Stickiness

Let’s take a look…..

Let’s take a look…..

Let’s take a look…..

Let’s take a look…..

Training.

Reliable internet

Accountant setup

required

Don't abrogate

responsibility

Managing the process

Questions?