HYPERION ECONOMIC JOURNAL

Hyperion University of Bucharest
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HYPERION ECONOMIC JOURNAL

January 2023
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Cloud Accounting the Solution for Multi-Entity Financial Management

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Authors:
  • Raluca Andreea Stoica, Ph.D Student, Affiliation: IOSUD-SDSE Valahia University of Targoviste, Romania;
  • Alina Gabriela Mares, Ph.D Student, Affiliation: IOSUD-SDSE Valahia University of Targoviste, Romania.
Pages:  33 : 38
Abstract:

Constituting a growing presence in the contemporary world economy, groups of companies have over time aroused the interest of specialists in the field of economics who have focused on studying the particularities of organization and operation of these entities and finding techniques and methods that allow a global approach of these structures. Cloud technology has revolutionized our daily lives in recent years. Cloud accounting software now offers all the functionality and reliability of local accounting software but with many additional benefits that only online technology can offer. Cloud computing providers have significantly lower operating costs than companies that manage their own IT infrastructure due to their global level and the ability to aggregate the demand of more cloud computing users. From an economic perspective, cloud computing offers the possibility to access IT resources without having major expenses, thus significantly reducing the impact on the costs of newly established companies. The aim of this paper is to explore the factors that have led to the rapid growth of users of cloud accounting software.

JEL classification:  M41, H30, H20

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