Fifteen years ago you would have bought an early generation windows application that had been migrated from DOS. Also around this time was the introduction of the entry-level cashbook & accounting systems. The computerised accounting software market is now some 15 years old in the modern PC environment (i.e. Windows & Macintosh).
For the user this means that the market leaders such as MYOB, Quickbooks, Sage, PeachTree etc have been around for a long time. As market leaders they have had to continual invest in their products to keep their customers happy. How do you keep customers happy? By giving them more features, of course.
In addition to this general enhancement of product, these market leaders’ customer bases have ‘grown up’ during these years. Start-up businesses 10 years ago are now multi-million dollar businesses. The product that they were using as a start up is no longer suitable, so in an attempt to maintain their customers the vendors extend the offering of their products.
What does all this mean? It means that what you get at the low end of the market these days are sophisticated systems with advanced functionality. Take Quickbooks, for example. For a few hundred dollars you get an accounting system with stock control, payroll, foreign currency, warehousing & contact management. Add into the mix the pressure on these market leaders from the new wave of solutions and we are starting to see things like integration to your banking software included in the products, automated bank reconciliation features, Paypal integration etc.
Another factor driving more features in today’s products is the sophistication of the market. Today’s purchasers are buying an accounting system for at least the second if not third time. They know what they want, they know what is available which is forcing vendors to deliver a lot at the various price points. Accounting software has become business software as businesses have demanded more from there vendor, the good news is the customer wins.
So when you are looking for your next accounting software package be smart, shop around, let Software Shortlist help you find a feature packed product that is right for your business.
About the Author
Blair Scott has been involved in the software industry for many years- with terms spent in both sales and anlytical roles within the accounting software space- Blair is a highly experienced expert in this space. In addition, Blair has a broad mix of entrepreneurial, general management and marketing skills.
