The latest trend in computing is cloud. One of the last categories of software to transition to new technology is accounting, perhaps due to its complexity and perhaps due to the mission critical nature of its use.
Today’s accountants are provided a choice . The first option is "On Premise", where software is purchased, hardware is provisioned, workstations connected, followed by implementation and data conversion. Software is replaced every 3 or 4 years. IT staff are needed to manage the system and provide backup and connectivity support. Software maintenance is paid annually to keep the on premise software available on the current version. Most of the cost of this choice comes early in the project and budgets run from $50,000 to $500,000 depending on number of users and complexity.
The new option is ""Cloud Accounting. In the
So if your firm is considering a