Accounting firms that already had cloud-based technology in place prior to the COVID-19 pandemic fared far better than firms that did not, according to a new survey.
The majority of accounting firms (62%) who said they feel they are responding to the pandemic successfully are more likely to be using cloud-based technology, particularly cloud-based document management and client portals, the survey found.
More than 1,100 accounting professionals, including accountants, bookkeepers and tax professionals from 18 different countries took part in the survey.
Key highlights of the Impact of COVID-19: State of Accountants Report indicate firms can use the pandemic as an opportunity to implement a business continuity plan that addresses future critical scenarios.