Factors affecting the intention of adopting cloud-based accounting strategy: The case of micro, small, and medium-sized enterprises

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Abstract

Cloud accounting is a specialized form of cloud computing designed for financial data processing (Yau-Yeung et al., 2020). By enabling firms to manage financial information more efficiently, it provides significant strategic and operational benefits (Tawfik et al., 2022). These advantages have attracted growing interest in Vietnam, particularly among micro, small, and medium-sized enterprises (MSMEs). To explore this trend, the present study investigates the factors influencing MSMEs’ intention to adopt cloud-based accounting. Nine factors impacting the adoption intention were investigated: relative advantage, perceived compatibility, top management support, financial readiness, technological competency, competitor, regulatory environment, vendor support, and vendor scarcity. Based on the technology-organization-environment (TOE) framework, these factors were classified into three main categories: technological context, organizational context, and environmental context. Data was collected from 200 Vietnamese MSME respondents between February 2024 and March 2024 through both qualitative and quantitative methods. Statistical analyses, including descriptive analysis, Cronbach’s alpha reliability analysis, exploratory factor analysis (EFA), correlation analysis, and regression analysis, were conducted using Statistical Package for the Social Sciences (SPSS) 25.0. The findings indicate that five factors — relative advantage, top management support, financial readiness, competitor, and regulatory environment — positively influence adoption intention. These insights contribute to the understanding of cloud accounting adoption in Vietnam and provide recommendations for MSMEs, vendors, and government policymakers to promote digital transformation.

Keywords: Cloud-Based Accounting, MSMEs, Vietnam

Authors’ individual contribution: Conceptualization — T.N.D., T.T.T., and D.A.N.; Methodology — T.N.D., H.Y.T., and T.H.N.; Software — T.B.T.N. and D.A.N.; Validation — T.H.N.; Formal Analysis — M.A.P. and P.T.N.; Investigation — T.B.T.N. and T.T.T.; Resources — T.N.D. and M.A.P.; Data Curation — M.A.P. and P.T.N.; Writing — Original Draft — D.A.N., T.H.N., and P.T.N.; Writing — Review & Editing — T.N.D., T.T.T., H.Y.T., and M.A.P.; Visualization — T.B.T.N. and T.N.D.; Supervision — T.B.T.N. and T.T.T.; Project Administration — H.Y.T. and P.T.N.; Funding Acquisition — D.A.N. and T.H.N.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: M41

Received: 24.01.2025
Revised: 22.05.2025; 23.10.2025
Accepted: 24.11.2025
Published online: 27.11.2025

How to cite this paper: Nguyen, T. B. T., Doan, T. N., Ta, T. T., Tran, H. Y., Nguyen, D. A., Pham, M. A., Nguyen, T. H., & Nguyen, P. T. (2025). Factors affecting the intention of adopting cloud-based accounting strategy: The case of micro, small, and medium-sized enterprises. Corporate and Business Strategy Review, 6(4), 194–208. https://doi.org/10.22495/cbsrv6i4art18