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.

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