Businesses no longer want a stand-alone system. CFOs realize that integration provides transparency across multiple aspects of the enterprise, and that having one system cover multiple departments is a great way to achieve that visibility. It is also simpler and usually more cost-effective to maintain one system rather than several.
There is a desire to have standardized databases and tight integration with Microsoft Office for reporting in Excel and integrating with Exchange and Outlook calendars.
Buyers want to see systems designed specifically for their “unique” needs. Stand-alone accounting systems are inherently generic, and the specialty-specific features of a system are typically found in the automation of other processes (shop floor control, project management, inventory control, etc.) that are removed from accounting. As a result, buyers seeking specialty-specific solutions naturally shy away from “generic” accounting applications and implement complete packages.
The emergence of Software as a Service enables collaboration and communication that was either very difficult or not achievable with older client-server systems. This collaboration enables companies to implement expansive systems to tie the enterprise together more easily.
Decision-makers are opting for systems that support consumer technologies and trends (such as remote access with mobile devices, integration with social media, and open and standard-based systems). This will naturally squeeze out horizontal accounting systems because they can offer only one function or cannot support the “must-have” consumer needs.
Businesses no longer want a stand-alone system. CFOs realize that integration provides transparency across multiple aspects of the enterprise, and that having one system cover multiple departments is a great way to achieve that visibility. It is also simpler and usually more cost-effective to maintain one system rather than several.There is a desire to have standardized databases and tight integration with Microsoft Office for reporting in Excel and integrating with Exchange and Outlook calendars.Buyers want to see systems designed specifically for their “unique” needs. Stand-alone accounting systems are inherently generic, and the specialty-specific features of a system are typically found in the automation of other processes (shop floor control, project management, inventory control, etc.) that are removed from accounting. As a result, buyers seeking specialty-specific solutions naturally shy away from “generic” accounting applications and implement complete packages.The emergence of Software as a Service enables collaboration and communication that was either very difficult or not achievable with older client-server systems. This collaboration enables companies to implement expansive systems to tie the enterprise together more easily.Decision-makers are opting for systems that support consumer technologies and trends (such as remote access with mobile devices, integration with social media, and open and standard-based systems). This will naturally squeeze out horizontal accounting systems because they can offer only one function or cannot support the “must-have” consumer needs.
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