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Accounting Software World is a K2 Enterprises sponsored site intended to augment our educational seminars with an independent review of·best of breed·accounting and financial management solutions. Please contact us if you have questions or need help with accounting or financial management solutions.
Randy Johnston - Editor-In-Charge
Dr. Bob Spencer - Editor-At-Large
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Accounting Software News
September 11, 2011 - SAP Business ByDesign enters the US with strength. SAP, the leading ERP solution vendor in the U.S. has reclaimed its presence in the emerging Software as a Service (SaaS) marketplace with newly released SAP Business ByDesign. ByDesign takes its place among a limited number of solutions that were developed from the ground up as Cloud Computing based solutions, as opposed to Hosted Solutions as a Service (HaaS.) While many do not designate a difference, true SaaS solutions do not require additional software at the user, or Client, side and run inside a browser. The better SaaS solutions are browser agnostic, and offer flexible licensing arrangements with rapid deployment when compared to in-house traditional implentations.
August 5, 2011 - Open Systems Inc. announces strategic alliance with Avalara. Open Systems, Inc., www.osas.com, announced last month a strategic alliance with Avalara, www.avalara.com, a leading provider of fully automated sales and tax compliance solutions. According to Open Systems, AvaTax for Open Systems will eliminate the hassle of compliance
processes and reduce the risk of business audits. The web-based service delivers automated rate calculation and address validation, as well as jurisdiction, rate, boundary and rule research. Coupled with automated filing, remittance and exemption certificate management, AvaTax for Open Systems software is the final word in sales tax compliance and management.
Picking the Right Solution For You
Many businesses put off changing their accounting and management software solution because of the amount of confusion that exist in the Marketplace. "What is the right solution for my business?" K2 provides Continuing Professional Education for Accountants and other professionals throughout North America. K2 principals and associates have lectured and written on the subject of accounting software for more than thirty years. The team regularly reviews a number of solutions and posts their findings at this site. If you do not see a specific product listed here, that usually means the Vendor has not provided assistance in the form of software to review, briefings and so forth. It does not necessarily mean there are not other good solutions available. K2 does not directly sell or implement software and therefore·can maintain a high degree of independence. To help you in your search for the right solution, we have divided the market into segments as follows.· In some cases there are unique industries that·have specific needs, please click on Industry Soluitons above to see if we have included products that fit you better.· If not, of if you have a fantastic solution we have not included here, please let us know.
Below are a few of the best of breed solutions we have recently reviewed, you will find many others by clicking on the Review tab above.Entry Level Accounting Solutions
Entry Level Accounting
Entry level solutions are for a small business of·1-5 active users with a need for true financial accountability and reporting. Reviews
Small to Medium Business (SMB) & Mid-Market Accounting
The SMB market·typically serves businesses with 5-25 active users, while the Mid-Market·· can serve from 25-100 active users.·High Mid-Market candidates·have more demanding transaction and reporting needs and therefore scale very well. These solutions typically support more functionality and a broader range of reporting. The underlying database is more robust ,and therefore,·SMB products are more scalable and able to take the business to its next level. Where only a few years ago the SMB and Mid-Market had very different competitors, over·past few years SMB vendors have enhanced their database capabilities and·added features and functions that were only found in much larger applications before. Today, you can feel comfortable selecting a product as a small business that will scale with you easily as you grow. Go to independent reviews.
Small to Medium Enterprise (SME) Accounting
Enterprise solutions typically target large organizations of 100 users or more. The feature set and functionality of these systems is advanced and very robust, so specialized businesses, such a process based manufacturing, large scale project management, of as few as five users, could benefit from these applications. We do not cover the highest end Fortune 1000 company solution here because it is such a limited range. Go to independent reviews.
Today there are perhaps three primary contenders, SAP, Oracle and Lawson, at the very high-end Enterprise Resource Planning (ERP) level. However, other products such as Sage ERP X3 and Microsoft Axapta are strong contenders·at much lower total·cost of·ownership. Businesses that once believed they had limited choices are finding other options work very well at the high-end and that is no longer true.
Business Analytics - Business Intelligence & Reporting
Business Analytics and Reporting are extremely important in any business. Many software manufacturers offer specific products to accomplish this, as well as products that are independent of specific accounting applications. The list below represents a short list of the top solutions in this classification. Go to independent reviews.
Customer Relationship Management (CRM) and contact management tools allow teams to track customer interaction, monitor employee activity, and generate routine correspondence to customers. Go to independent reviews. Go to independent reviews.
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