Information key to accounting software decisions
The main reason for purchasing new accounting software is the need to provide better management of information across an organisation, according to a survey of accountants and finance professionals.
According to the poll of attendees at the Softworld Accounting and Finance show in March, 70% of accountants believe that providing improved management information is the main driver for investment in new technology, suggesting that the accounting and finance function is becoming a company’s most valuable asset.
Interestingly, the main barriers to implementing new systems were cited as cost and time constraints and resistance to change. However, 58% stated that they were looking to introduce a brand new system, rather than introduce new functionality.
Other results showed that e-billing is still not being widely used, with only 7% of respondees stating that they bill customers electronically. Furthermore, when asked whether their business had a web presence, 86% of respondees stated that they had, but only 9% of these sites reported into any back office applications.