There’s no doubt about the rising popularity of cloud software. The technology is now looking to dominate businesses – both large and small – across the country and the wider global community. It has proven vital to improving administrative efficiency and in helping organisations get (and stay) ahead of the competition.

As such the cloud can be seen as a great incentive for organisations to work harder. With a survey recently revealing that as much as 65% of UK-based accounting practices are keen to incorporate cloud based accounting software into their services, compared with 23% last year, it is clear that the cloud is here to stay.

But what effect can this have on the economy?

Employment opportunities

You would be forgiven for thinking that the cloud will replace the jobs of many employees in the software sector, but nothing could be further from the truth.
As Scottish Conservative Chairman David Mundell recently announced, accepting the cloud into businesses would offer employment opportunities and help to reduce costs. The above stats show that this is already happening.

The MP for Dumfriesshire believes that cloud can help companies to expand and be more profitable, while plans are in place to continue the introduction of cloud into further parts of the public sector.

“Technologies such as cloud computing can have a real impact on competitiveness, creating new ways to deliver services and collaborate as well as reducing costs,” he explained.

The UK government launched G Cloud in the latter part of 2011, in a bid to get the public sector using commodity cloud computing.

A more financially secure IT sector

As a result the IT sector is reported to be better off financially, as it benefited from the wider £58 million gross added value that the sector brings to the national economy. Driving profits in businesses will be vital to seeing greater reinvestment into the UK sectors, which should in turn boost the economy.

Developing cloud accounting software services is now considered to play a key role in improving data handling for many companies, as well as improving online presence and customer interaction.

As it continues to fundamentally change our use of computing, more thought and energy is being pumped into ways it can improve other sectors.

This article was produced by Liquid Accounts – leading online accountancy software provider for SMEs, Accountancy and Bookkeeping practices in the UK. For more information and a free trial visit www.liquidaccounts.com