According to a recent survey, accounting firms that use cloud-based technology solutions are experiencing higher levels of growth.
Many firms, however, are still grappling with how to harness the full power of such tools for strategic benefit.
The 2024 U.S. Accounting Industry Report, commissioned by Wolters Kluwer, polled 1,776 tax and accounting firms of all sizes.
The firm survey found that cloud adoption and migration for various tools increased significantly in 2023, with the largest jump being a 19% year-over-year increase in firms reporting they’ve started using crypto tax and accounting platforms.
However, a very low number of firms — only 9% — believe they are maximizing the use and value of their current technology. See more findings.