Sage (a leading provider of accounts software) have recently extended their most popular product to the cloud. And they have done to in a way which seems to address a lot of concerns.
My experience of cloud accounting software is that while it is functional and easy to use, it does lack some of the capabilities that desktop accounting software offered. What Sage appear to have done is taken their best product for SME – Sage 50 – and retained the best of both worlds. The news release at the link above suggests a new product, Sage Drive, allows the user to retain the desktop functions but store data in the cloud. This has several advantages. First, the sharing capabilities of the cloud are available once the data is stored there. Second, existing functions are maintained and this may particularly suit the accountant users. Third, it may ease some security concerns accountants often mention with the cloud. From my understanding, only the data is cloud hosted. Some desktop software is still needed to make sense of the data.
A recent report cited on CGMA’s website places technological risk at the second risk concern amongst a survey of Boards of Directors. The risk concern is with cyber-security, and was the number one risk concern of private firms. The report notes an increases in the perceived technology risk from previous years. It is interesting (and good) that Boards are well aware of technological risk – as most large organisations today are so reliant on their information systems. You can read the full report here and the CGMA article here.
Here is a nice new feature from BBC on cloud storage company DropBox
Following from our last post, have a look at this:
I came across it on a social network. If you are a student, you may be too young to remember when Internet speeds were 64Kb per second or so – yes that’s Kb not Mb per second. Nowadays 40-50 Mb is normal at home and in business. That’s nearly 1000 times faster.
Here’s are very simple graphic which shows how technology has progressed in 9 years.
In Chapter 1 of our book, there is a brief history of computing. The mainframe computer is 50 years old and this BBC feature gives a brief summary of their history. And as the article notes, they are still in use today.
From late 2013, most larger Irish companies have to file their financial statements in iXBRL format. As you learned in Chapter 7 of our textbook, iXBRL is an embedded form of XBRL. The Revenue Commissioners – Ireland’s tax authority – provide lots of useful information on iXBRL at this link. It is worth having a read through these pages as it brings Chapter 7 to life.