Finally, only 17% of companies utilize an asset management solution to track physical assets. Only 40% of small business owners said they have knowledge of finance and accounting. 50% of small businesses outsource their payroll activities. Only 42% of small enterprises have a chief financial officer (CFO). 88% of small companies are satisfied with their accounting facilities. Now, let’s look at the findings of the 2015 State of Small Business Report : 70% of companies outsource tax preparation. Integration of software is also a major concern for businesses. Many companies opined frankly that current accounting systems restrict their business efficiency. About 52% of respondents intend to make use of big data cloud. Businesses are looking to invest in and benefit from cloud forecasting, budgeting, and corporate performance management products. Take a look at these stats gleaned from a recent survey by the Cloud Accounting Institute : 73% of companies said they utilize cloud accounting solutions. Companies can automate their accounting tasks and processes with an efficient accounting software solution.
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