Learn about the State of the Online Accounting Industry from Company Executives
Software Advice, a provider of online accounting software reviews, recently held a roundtable discussion on its company blog with three online accounting software CEOs from ePartners (a Microsoft Dynamics GP VAR), Intacct, and Kashoo.
For small businesses, cloud solutions are affordable options that afford its users much of the flexibility needed to operate a growing business. From the article, a couple of interesting trends discussed are:
1. Increasing Number of Small and Medium-Sized Businesses Are Cloud-Ready
Overall, more small business users are moving their financial systems to the cloud because the perception of security have improved. In the past, many users were hesitant because they saw online solutions as being generally unsafe for important accounting data, but increased consumer acceptance of cloud-based technology has diminished these fears.
2. Better Collaboration and Accessibility with Cloud Software
Because these solutions are easily accessible and can be deployed for multiple users, online accounting software users are seeing increased internal and external collaboration. All users need is a login and an Internet-connected computer to be able to share and access financial data. This can allow for traditionally internal accounting departments such as accounts receivable and accounts payable to be outsourced, if necessary.
And while these trends and benefits are most visible in small and medium-sized users, even larger corporations are deploying cloud-based solutions for smaller, autonomous departments.
A full transcript of the roundtable can be found here: State of the Online Accounting Industry: Executive Roundtable.
Post contributed by Michael Koploy.
Michael writes on various ERP topics, with particular interests in supply chain management and retail industries. In his free time he enjoys the food and live music scenes in Austin, Texas. Michael is a recent graduate of the University of Texas with a BS in Psychology.