ADOPTION OF CLOUD ACCOUNTING SYSTEMS IN SMES
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Cloud accounting systems have become essential tools for enhancing financial management and operational efficiency in Small and Medium Enterprises (SMEs), particularly in developing economies. In Bangladesh, the implementation of such systems is hindered by financial constraints, a lack of technical expertise, and security concerns. This study examines the implementation of cloud accounting systems within SMEs in Bangladesh, emphasizing perceived advantages, adoption obstacles, and financial results. A mixed-methods approach was utilized, integrating quantitative survey data from 200 SMEs with qualitative insights obtained from semi-structured interviews with 15 SME representatives. Statistical analyses, encompassing t-tests, regression, and Pearson correlation, were performed to evaluate seven hypotheses derived from the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT). The findings indicate that perceived ease of use (β = 0.42), cost savings (β = 0.38), and operational efficiency (β = 0.43) have a significant impact on adoption. In contrast, insufficient IT skills (β = -0.31), transition costs (r = -0.45), and data security concerns (r = -0.36) constitute significant obstacles. Adopters of cloud accounting exhibited a higher perceived financial performance (mean = 4.1) compared to non-adopters (mean = 3.3), with a statistically significant difference (t = 5.24, p < 0.01). The results indicate that although cloud accounting systems provide quantifiable enhancements in cost-effectiveness and decision-making, several structural obstacles impede their widespread adoption among Bangladeshi SMEs. These insights enhance our understanding of the primary factors influencing digital financial transformation in emerging markets.
JEL Classification Code: M15, M41, O33, L26, C83.
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