The world of software is constantly evolving to offer ever better, smarter and simpler ways to help you and your clients go from strength to strength.
Trend 1: Reducing the administrative burden
Automation is taking over an increasing number of manual tasks, freeing up time and people to focus on bigger and better things. After all, why should you waste time manually entering bank statements when software can do it for you? Electronic invoicing is also growing in popularity, allowing invoices to be automatically entered too. And now self-learning systems are starting to play their part as well, calculating data based on previous figures.
Trend 2: Reaching for the cloud
Well, we know there’s no shortage of cloud providers – and a lot more are on the way. Most large providers of financial software are also investing heavily to shift their product portfolio into public or private cloud environments. And there’s still plenty of room for growth. Research shows that just 24% of SMEs with up to 50 employees are benefiting. With all the advantages on offer, that’s going to change over time. After all, the cloud helps businesses work more closely with their accountants. Provides secure ‘anywhere access’ to critical business data, supporting better decision-making. And removes the expense and hassle of buying and maintaining on-premise servers, software and security.
Trend 3: Transforming knowledge into power
With real-time dashboards and smart analysis, cloud software is transforming financial data into a powerful tool that puts you in complete control of your entire organization. Access to comprehensive real-time information helps you make the right decisions. The cloud makes that information accessible from your smartphone, tablet and even your watch, so you stay on top from anywhere. And in time, predictive analytics will add a whole new level of capability. Hold tight…
Trend 4: Building entire ecosystems around software
Whole new ecosystems are starting to appear around financial software – and they’ll only become larger and more significant over time. Just take a look in one of the so-called App Centers. They’re full of innovative and extremely useful apps from third party partners, all custom-built to integrate seamlessly with – and expand the capabilities of – the core software product. Beyond accounting, many apps are designed to meet specific industry challenges from web shop integration to payment platforms to HR and CRM systems.