SMEs 'demanding enterprise-grade software'

News Article - Wednesday, May 21, 2008

filed under: Technology, Business

Small businesses are no longer satisfied with scaled-down software solutions and want platforms that offer "sophisticated functionality and greater integration".

According to an Accounting Web article, small to medium-sized enterprises (SMEs) are starting to demand enterprise-grade technologies that have been designed specifically to meet their needs.

Smaller firms now need easily integrated software products that offer advanced capabilities such as enterprise resource planning, payroll and customer relationship management (CRM).

Accounting software systems that are affordable, easy to use and quick to implement are increasingly being created to appeal to small businesses and are being used throughout their operations.

"Accounting software is the technical heartbeat of a business," the article states. "It's what creates order in the business… The ability to interpret and act on a combination of financial and operational data marks the difference between success and failure for any business."

Business Link advises that "managing accounts can be challenging for any business", with many enterprises saving time and money by using the right accounting software to make the process "quicker and more straightforward".

SME accounting software can help small businesses to manage their finances more effectively and ensure that they are compliant with accounting legislation, such as the global move to International Financial Reporting Standards (IFRS).

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