POLL: Is Cloud-based Accounting/Financial Software Right for You?

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Sep

Filed Under (Inside TEC) by Aleksey Osintsev (see bio)

TEC is preparing a new Financial Packages Buyer’s Guide, and we’d like to hear your thoughts on cloud-based finance and accounting software. Your responses to the questions below will help us keep the guide focused on the needs of real-world accountants, financial managers, IT specialists, and other professionals.

1. How long has your accounting/financial software system been in place?

Less than 1 year
1-3 years
4-6 years
7-10 years
More than 10 years
Don't know

View Results

2. What type of financial application does you company currently use?

Module of a cloud-based ERP or other corporate-wide software
Module of an on-premise ERP or other corporate-wide software
Standalone cloud-based accounting system
Standalone on-premise accounting system
Don’t know

View Results

3. Would your organization consider a cloud-based system for its next financial application?

Yes
No
Don’t know

View Results

4. What is the principal barrier to your organization adopting a cloud-based financial application?

Issues concerning ownership of financial data
Security and access to information issues
General mindset
Need for customization to accommodate unique accounting processes
Excessive cost over long-term use
Issues concerning integration with other applications
Hardware and bandwidth problems
Large data volumes
Other

View Results

5. Which of the following criteria is most important to your organization’s potential accounting/financial system?

Capability to consolidate data from a variety of sources, formats, and languages
Capability to process large volumes of data
Scalability
Ease of use
Flexibility and adaptability
Extended data analytics capabilities
Seamless integration with other applications
Delivery method
Compliance capabilities

View Results

Thanks for taking the time to participate in this TEC poll. The Financial Packages Buyer’s Guide is due out in December. We’ll make an announcement on this blog as soon as it’s published.

Comments

Neil McLachlan on 18 September, 2012 at 10:34 pm #

we’ve been using a localised (for Australia&NZ) online accounting solution for over 3 years without any significant issues. can’t conceive of circumstances that would lead us to go back to on-premises solution.

Alois Nicholaus Shayo on 18 September, 2012 at 11:14 pm #

I will appreciate if I get feedback

Yasser Khorshed on 19 September, 2012 at 12:34 am #

I am very intrested to get update in all area related to accounting and back office clouding

G.Rajendran on 19 September, 2012 at 5:22 am #

In respect of q: 4 , we have mutiple barrriers like ans: 2, 3,4,5,6 and 7

Les Cooley on 19 September, 2012 at 8:47 am #

Security

Afolabi on 20 September, 2012 at 5:53 am #

I want to know about the cloud based- accounting software.

Life brokerage on 2 November, 2012 at 3:41 am #

I think Cloud based accounting software work for most industries. It can be very useful and can make the task easier for accountants.

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