A recent article in CPATrendlines highlighted a survey, conducted by accounting technology research firm Software Advice, which analyzed the current accounting solutions in use by small-medium sized businesses (SMB) and the companies’ likelihood of changing the systems they use. The results indicated that:
- 46% use on-premise software
- 18% outsource
- 16% use cloud-based software
- 1% use “other”
- And amazingly, 20% use manual methods (pen, paper and spreadsheets!)
The survey further looked for the confidence level SMBs have in cloud-based software and their propensity to move to a solution of this type. Over half of the respondents expressed moderate to high levels of confidence. And relative to the environment of their next accounting system, 76% of the respondents had no preference for a cloud-based or on-site solution.
Based on the many discussions we’ve had with clients and prospects, the reasons they look for a new system relate to goals for improved functionality and efficiency. These goals include:
- Greater system integration, reducing the need to “re-key” information
- Movement to a “less paper” environment
- Greater functionality, reducing the need for multiple systems
- And improved reporting capabilities
Our web tools were designed to address these goals for accounts payable, payroll and financial reporting. The fact that our system is web-based is a bonus – the responsibilities for upgrades and high-availability rest with us. Add to that the training and support our accounting staff supplies and you have a highly functional accounting solution that is High Tech and High Touch.
To learn more, contact Steph Luke at firstname.lastname@example.org.