Majority of SMEs taking advantage of apps: Intuit

An independent Intuit study (conducted by Galaxy Research) has indicated there has been a sharp increase in the app usage of Australian SMEs over a two-year period, with 62 per cent of businesses now turning to app-based technologies to assist their day-to-day operations.

According to the research, there has been an increase in use among collaboration apps (now at a 31 per cent usage rate), cloud accounting apps (30 per cent) and security apps (26 per cent).

The cloud accounting software provider stressed that a continued reliance on digital technology will further eliminate the need for manual data entry, thus allowing accountants to focus on their role as "trusted advisers" for small businesses in order to integrate strategic goals and grow their clients' business.

The results of the research indicated that SMEs that have been in operation for four years or less were more likely than those who have operated for 5-10 years to hire an accountant to make sure their business is financially compliant, (31 per cent compared to 21 per cent).

Newer businesses were also found to be more likely to integrate cloud accounting technology (27 per cent of newer businesses compared to 17 per cent of their older counterparts) and were also deemed more likely to undertake a bookkeeping course in order to better understand the ways in which they can run and manage their accounts more effectively.

"Our research shows SMBs have become more tech savvy, embracing apps to streamline tasks, personalise experiences and scale their business," commented Brad Paterson, vice president of Intuit APAC.

"In fact, the majority of Aussie small businesses are using apps more across more devices than they ever did before. This reinforces the need for accountants and bookkeepers to innovate their role with clients to remain relevant," Mr Paterson added.

"Accountants and bookkeepers have a real opportunity to enhance their role to become a trusted advisor and valued partner supporting the growth of their small business clients. In particular, our research shows that newer small businesses are more likely to use a cloud accounting solution, which enables accountants and bookkeepers to become a firm of the future."