TechnologyAccounting SoftwareInformation key to accounting software decisions

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.

Related Articles

5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

2w Heather Darnell, Founder of Ask the BOSS
Finance and the tech foundation: what’s needed to deliver impactful business insights?

Accounting Software Finance and the tech foundation: what’s needed to deliver impactful business insights?

3m Workday | Sponsored
Best accounting software for businesses in the UK

Accounting Software Best accounting software for businesses in the UK

3m Accountancy Age, Reporters
Making sense of enterprise tech concepts for finance teams

Accounting Software Making sense of enterprise tech concepts for finance teams

4m Workday | Sponsored
Open Banking: what you need to know

Accounting Software Open Banking: what you need to know

4m Edward Berks, Xero
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

6m Pegasus Software | Sponsored
Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

10m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

10m Alia Shoaib, Reporter