The power of a collaborative ecosystem in the cloud

PwC Partner and Cloud Leader Scott McLiver (left) thinks we're ready to improve how we use the technology. Photo / Getty Images

Businesses are finding plenty of reasons to move to the cloud - from the accessibility of real-time data to added scalability and flexibility. The platforms are becoming so efficient for innovation to build on, they have diversified for practically every industry and business function.

Managing the Shadow Cloud, a report released by PwC late last year, showed that the average number of cloud services used per organisation in Australia and New Zealand stands at a huge 670.

In fact, when it comes to using cloud accounting software, New Zealand is way ahead of the game globally. A massive 33% of Kiwi businesses embrace the technology - a far bigger percentage than second-place Australia - potentially because of Kiwi companies like Xero providing plenty of home-grown advantages. Whatever the reason, it gives a whole new meaning to the Land of the Long White Cloud.

Chances are, your business relies on cloud platforms in some way - whether it's for accounting, customer-relationship management, quality control or any other function - so you may be asking yourself: what's going to happen next?

PwC Partner and Cloud Leader Scott McLiver thinks we're ready to improve how we use the technology. Scott recently led the launch of the company's new cloud-based offering, PwC's Next, and says there is still a long way to go to get the most out of the cloud.

"For me, there are three key prongs to the way cloud accounting and the related "add-ons" have already impacted business," explains Scott. "There's live access to information, automation and collaboration.

"There's the obvious 'anywhere, anytime' access to live data, which allows people to look at their performance and act on it instantly.

"Next we have automation, which is really the driving force behind a lot of small to medium-sized businesses getting into the cloud. They can automate everything from bank reconciliation to timesheets and invoice payments, and it's allowed them to save a lot of time and money.

"The third - and often missing - part is leveraging the collaborative nature of cloud tools. Live access has given stakeholders, management, suppliers, banks and business advisers the chance to all work from one central set of data in a much more cohesive and collaborative way.

"The market so far has only really dealt with the first two prongs; true collaboration is in its absolute infancy."

This would signal a change in the advantages we first heard about when cloud platforms were still rolling out. Back then, cost reduction was a large selling point, both through automation of what were previously human processes or reducing a company's commitment to software development and IT infrastructure.

The cloud ecosystems we talk about today are still focused on reducing costs, but also adding value.

"What we're thinking about, and it's one of the reasons we've launched PwC's Next, is how we can become far more focused on the future," Scott continues.

"Businesses don't just have to use the cloud to report on what's happened; through wider collaboration with advisers, banks, accountants and data sets, they can begin to form strategies for tomorrow."

Five years ago, if you mentioned the word cloud to a business owner, they'd almost definitely think you were talking about the party location for the rugby world cup. Today, you're likely to have a much more in-depth conversation about the technology. As the ecosystem continues to transform, imagine what it will mean in another half a decade.