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.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses