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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 or in-house 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 an impartial guide to the ‘key criteria of good accounting software’ visit: Accounting Software Criteria
Or, visit: CRM software trends / HR software trends / Payroll software trends / Cloud computing pros and cons / Cloud computing and security / Software vendor consolidation
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