1.
Cloud computing / SaaS - wholly online
accounting software
2.
Hosted or combined online / on-premise
accounting software services and systems (and the beginning of the reduction of
solely on-premise accounting software)
3.
Web services, web support
4.
e-procurement, e-commerce, e-expenses systems
and electronic payment integrated within accounting software
5.
Web interfaces from 3rd party web-based systems
such as e-expenses
6.
Workflow functionality integrated within
accounting software
7.
Improving analytics, business intelligence and
reporting
8.
e-filing for taxation returns
9.
Enhanced security - online and offline
Non-web Accounting Software trends - continued growth of:
1.
Industry sector specific or vertical market
solutions
2.
Accounting software combined (or integrated)
with specialised modules for industry specific needs / vertical markets (and
the reduction of generic accounting systems)
3.
Integration with other associated accounting
software modules eg CRM (and the consequent reduction of stand-alone accounting
systems)
4.
Improved integration with 3rd party software
5.
Seamless integration with 3rd party office
products eg Excel, Word
6.
Software scalability
7.
Functionality and features added to accounting
software
8.
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
9.
International functionality of accounting
software - to support employees in
multiple countries with multiple languages
10.
Software customisation capabilities
11.
Intuitive use of functionality / ease of use
12.
Financial and accounting regulations
13.
Using technology and workflow functionality to
reduce operational accounts department costs
14.
Faster software set up, implementation and
upgrade time scales
Accounting Software market trends - continued growth of:
1.
Replacing existing systems with web-based
accounting software and web-enabling activities and processes
2.
Competition, especially in the mid-range
Accounting / ERP software market
3.
Accounting software market / vendor
consolidation
Source
: axia-consulting.co.uk
