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Intuit Study Shows How the Cloud Will Transform Small Business by 2020
|By Business Wire
|August 8, 2014 08:30 AM EDT
Nearly 80 percent of U.S. small businesses will be fully adapted to
cloud computing by 2020, more than doubling the current 37 percent rate,
according to “Small Business Success in the Cloud,” a new report from
Emergent Research and Intuit Inc (Nasdaq:INTU).
“This report paints a detailed picture of how small businesses will
increasingly use cloud technology not only for efficiency gains, but
also in more transformative ways that redefine the rules for achieving
long-term success,” said Terry Hicks, vice president and general
manager, QuickBooks Online Ecosystem at Intuit.
“Whether you’re a tech startup in Silicon Valley or a mom-and-pop shop
on Main Street, cloud technology presents radically new opportunities,
and potentially disruptive changes,” Hicks continues. “This report is
all about developing a deep understanding of how small business can stay
ahead of the curve.”
“Small Business Success in the Cloud,” describes the impact of cloud
technology as it is progressively adapted by more and more small
businesses – moving from an initial focus on efficiency gains, to the
emergence of new models of business, through broad-based saturation
across business and society.
The report is the first in a new “Dispatches from the New Economy”
research series, a comprehensive project exploring the ways economic,
technology and social shifts will shape the future of small business
success. The series builds on a 10-year partnership between Emergent
Research and Intuit tracking trends in small business.
“Small Business Success in the Cloud” uncovers the first four “faces of
the new economy” from the Dispatches series. These four personas
represent small businesses who have fully adapted the cloud, moving from
passive to active use of the technology:
Plug-in Players: Small businesses will increasingly adapt to
the cloud by taking advantage of specialized services that can be
seamlessly integrated into back-office operations. Instead of spending
time and effort on the nuts-and-bolts of finance, marketing and human
resources, cloud-adapted small businesses will plug into cloud-based
providers who deliver comprehensive, tailored solutions, giving small
business operators the ability to focus on mission-critical areas of
Hives: Cloud-adapted small businesses will increasingly be made
up of individuals who share talent to form a team. These businesses
will operate virtually, with employees working in different locations,
and staffing levels will be increasingly flexible, rising and falling
to meet project needs. For example, independent contractors will use
virtual spaces to connect and market themselves. On Main Street, small
manufacturers and producers may share a commercial facility.
Head-to-Headers: A growing number of cloud-adapted small
businesses will compete head-to-head with major firms, using the
growing number of platforms and plug-in services to reach markets once
only accessible to large corporations. This is already being seen with
platforms such as AirBnB, which provide individuals with the ability
to reach a mass market through community infrastructure.
Portfolioists: Successful cloud-adapted freelancers will bring
together multiple income streams to create a career portfolio. These
largely will be people who start with a passion, or specific skill,
and are motivated primarily by the desire to live and work according
to their values, passions, and convictions. They will increasingly
build personal empires in the cloud, finding previously unseen
opportunities for revenue generation.
These personas demonstrate how the cloud is creating a new era of
opportunity for entrepreneurs. They also portray the human side of how
cloud computing is making it cheaper and easier to start and scale a
“Today, the U.S. and global economy is going through a series of shifts
and changes that are reshaping the economic landscape,” said Steve King
of Emergent Research. “In this new landscape, many people are using the
power of the cloud to re-imagine the idea of small business and create
new, innovative models that work for their needs.”
“The cloud is transforming how small businesses operate and the way
companies like ours serve the needs of entrepreneurs,” said Joshua
Reeves, CEO and co-founder of ZenPayroll. “Small businesses are used to
associating payroll with tax calculations, countless forms, and hours of
frustration. At ZenPayroll we use technology to remove all of that pain
so business owners can focus on their relationship with employees, and
help people feel appreciated for their work.”
A copy of “Small Business Success in the Cloud” can be found on SlideShare.
To see past forecasts from Emergent Research and Intuit please visit www.intuit.com/2020.
About Emergent Research
Emergent Research is a research and consulting firm focused on
identifying, analyzing and forecasting the key demographic, social,
technology and economic trends and shifts impacting business and
society. Emergent Research partners, Steve King and Carolyn Ockels, are
co-authors of the Intuit 2020 Report and the Intuit Future of Small
Business Report Series.
About Intuit Inc.
Intuit Inc. creates business and
financial management solutions that simplify the business of life for
small businesses, consumers and accounting professionals.
Its flagship products and services include QuickBooks®, Quicken®
and TurboTax®, which make
it easier to manage small
businesses and payroll
finance, and tax
preparation and filing. Mint.com
provides a fresh, easy and intelligent way for people to manage their
money, while Demandforce®
offers marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit's
leading tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year
2013. The company has approximately 8,000 employees with major offices
in the United States, Canada,
the United Kingdom, India and
other locations. More information can be found at www.intuit.com.
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