Accounting Software World is sponsored by K2 Enterprises and is intended to augment our continuing professional education (CPE) seminars with an independent review of best of breed accounting, financial management and Enterprises Resource Planning (ERP) solutions.
Picking the Right Solution For You
To help you in your search for the right solution, please check out our Industry Solutions to the right to see if we have included products that fit your specific industry better. For individual reviews on accounting softwares, check out our Software Reviews.
Accounting Software Pyramid
Entry Level Accounting Software
Entry level solutions are for a small business of 1-5 active users with a need for true financial accountability and reporting.
Small to Medium Business (SMB) Accounting Software
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.
Enterprise Accounting Software
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 of as few as five users, such a process based manufacturing or large scale project management, could benefit from these applications. We do not cover the highest end Fortune 1000 company solutions here because there are few options. Go to independent reviews.
Today there are perhaps three primary contenders, SAP, Oracle and Lawson (infor), 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 the choice of only selecting a high-end ERP solution is no longer true.