Our Future Ready Accountant Report revealed that 74% of cloud-based firms report profit-growth, compared to 65% of traditional firms. This trend reveals that those firms leading the way with growth are using their technology as a key tool on their journey. So why does cloud accounting adoption lead to growth, and should all firms be adopting this way of working?
Tax & Accounting27 May, 2025
Report: Cloud accounting trends in the UK
We decided to delve deeper into the data to find out what UK accountants think of cloud accounting, the benefits and drawbacks, and whether they think it’s safe.
With data security and backups being key concerns in the financial services industry, the cloud makes some accountants feel safe and protected, while others are on edge. We asked 100 UK accountants about their use of the cloud, the benefits and drawbacks, and their trust in the technology.
Discover what your peers are doing in their practice today, and plans for the future of the industry, in this report.
Our key findings include:
- Cloud accounting is for now, and for the future.
47% of UK accountants are currently using cloud-based software (SaaS) with a further 34% using a mixture of cloud and on-premises. Furthermore, the majority (56%) of accountants believe that cloud accounting will become the standard for all businesses in the future, while 36% think it’ll be used alongside on-premises. - Productivity and accessibility are considered the main benefits.
Accessibility is considered the main benefit of the cloud for accountants, cited by 48% of them, followed by 44% suggesting productivity and time savings. - Despite concerns around cyber-attacks and data security, accountants trust the cloud.
While accountants cited cyber-attacks (52%) and data security (43%) as two of their biggest concerns around using the cloud, they show a lot of trust in the technology despite the perceived risk.