Businesses Are Automating Onerous Tasks With Accounting Software

Nandini Mukherjee, Special EditorOver the past two decades, the financial and accounting services & software solution market has undergone abundant changes. One of the biggest changes is the cloud-based offering of accounting software solutions. A recent survey indicates that among the enterprises planning to opt for enterprise resource planning solutions; more than 50 percent of them are expected to choose cloud as their deployment mode. The advent of digital commerce and technological advancements, like integration with other online applications, such as automated bank feeds, automated billing features are expected drive the accounting software market over the forecast period.
In the age of digital transformation, speed and accuracy are the supreme power. This is why many businesses choose to automate onerous tasks that do not require extensive brainpower. From organizing financial paperwork and computing payroll to tracking inventory and preparing income tax returns, advancements in cloud accounting technology have proved useful in trimming down the hours spent on these bookkeeping and accounting responsibilities, keeping ahead of their on-premise counterparts. With help of accounting software and services providers, businesses are able to narrow down the nitty-gritty of their finances and make well-informed business decisions. Additionally, businesses not only look for cost-effective solutions to systematically run non-core activities like accounting and payroll services, but also expect to add value in order to achieve better control and understanding of cash flow.

In our current edition, we have featured a list for "10 Most Promising Accounting and Tax Services & Solutions. The list encompasses service and solution providers that redefine financial planning as an enormous component of a business' growth. We also recommend you to read our cover story on Accountri, a complete Business Management Software that makes collaboration smooth across HRM, Project Management, Job Management, Operations, Document Management & Accounting departments.

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