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Accounting software trends

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Quickly and easily gather your accounting system requirements and prepare your RFI & RFP.

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Accounting Software RFI/RFP Template

Accounting Software

Current trends

The continued growth of web-based and web-enabled Accounting Software and systems, including:

  • Cloud computing / SaaS - wholly online accounting software
  • Hosted or combined online / on-premise accounting software services and systems (and the beginning of the reduction of solely on-premise accounting software)
  • Web services, web support
  • e-procurement, e-commerce, e-expenses systems and electronic payment integrated within accounting software
  • Web interfaces from 3rd party web-based systems such as e-expenses
  • Workflow functionality integrated within accounting software
  • Improving analytics, business intelligence and reporting
  • e-filing for taxation returns
  • Enhanced security - online and offline

 

Non-web Accounting Software trends - continued growth of:

  • Industry sector specific or vertical market solutions
  • Accounting software combined (or integrated) with specialised modules for industry specific needs / vertical markets (and the reduction of generic accounting systems)
  • Integration with other associated accounting software modules eg CRM (and the consequent reduction of stand-alone accounting systems)
  • Improved integration with 3rd party software
  • Seamless integration with 3rd party office products eg Excel, Word
  • Software scalability
  • Functionality and features added to accounting software
  • Accounting software suitable for large organisations, redesigned for medium and smaller sized businesses. And conversely accounting software that is suitable for small / medium sized businesses, extended to be suitable for medium / larger size businesses
  • International functionality of accounting software  - to support employees in multiple countries with multiple languages
  • Software customisation capabilities
  • Intuitive use of functionality / ease of use
  • Financial and accounting regulations
  • Using technology and workflow functionality to reduce operational accounts department costs
  • Faster software set up, implementation and upgrade time scales

 

Accounting Software market trends - continued growth of:

  • Replacing existing systems with web-based accounting software and web-enabling activities and processes
  • Competition, especially in the mid-range Accounting / ERP software market
  • Accounting software market / vendor consolidation

 

For a list of the top 20 essential criterion for good accounting software visit: Accounting Software Criteria

Or, if you are about to select new accounting software and need to specify a full list of requirements, then visit the Accounting Software RFI/RFP Template which lists thousands of criteria.

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