Factors Influencing the Adoption of Cloud-Based Financial Software: A Systematic Literature Review

Abstract

Over the past ten years, many organizations have shifted their financial operations to cloud-based software to save costs, work more flexibly, and access financial data in real time. However, despite this growing trend, researchers have not studied it deeply enough particularly what drives organizations to adopt such software and how it affects their performance. This study aims to fill that gap by reviewing and organizing existing research on cloud-based financial software. It uses a structured framework called TCCM (Theory, Context, Characteristics, and Methodology) to identify the key factors that influence adoption decisions. To ensure a thorough and unbiased review, this study follows a Systematic Literature Review (SLR) approach. A total of 90 peer-reviewed articles published between 2016 and 2025 were collected from two major academic databases- Scopus and Web of Science. To maintain quality, articles were selected following PRISMA guidelines, a well-established standard for filtering relevant and credible research. The TCCM framework was then applied to organize and analyze the findings, and to identify areas where further research is still needed. The review uncovers the main theories, geographic locations, and research methods used in studies on cloud-based financial software. Interestingly, academic interest in this topic has grown sharply 55 out of 90 articles were published between 2021 and 2025 alone. Most studies have focused on developing countries, especially Jordan, Indonesia, Malaysia, India, and Nigeria, and have largely examined small and medium-sized enterprises (SMEs). The study also analyzed citation patterns to identify influential research papers, leading scholars, and top journals in this field. Based on all these findings, a clear research agenda is proposed along with a conceptual framework that maps out the most commonly studied adoption factors. This study stands out because it brings together the theoretical, geographic, and methodological aspects of cloud-based financial software research in one place. It highlights gaps that have not yet been explored and suggests directions for future studies. Additionally, it presents an integrative framework- a comprehensive overview of the factors most studied in this area- making it a useful reference for both researchers looking to advance the field and practitioners seeking evidence-based insights for decision-making.