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Accounting Software


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Cougar Mountain DENALI logo
 
Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
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Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
 
Multiview logo
 
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
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For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
 
Sage Intacct logo
 
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
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Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
 
Budget Maestro logo
 
Budget Maestro by Centage offers financial institutes a comprehensive accounting solution with budgeting, forecasting, consolidation and reporting capabilities. Budget Maestro is suitable for a host of industries, including manufacturing,... Read More
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Budget Maestro by Centage offers financial institutes a comprehensive accounting solution with budgeting, forecasting, consolidation and reporting capabilities. Budget Maestro is suitable for a host of industries, including manufacturing,... Read More
 
Adaptive Insights logo
 
Adaptive Insights, founded in 2003, provides a web-based system for budgeting, forecasting and reporting. The solution is suitable for a wide variety of company sizes. Delivered over the Web in a software-as-a-service (SaaS) model,... Read More
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Adaptive Insights, founded in 2003, provides a web-based system for budgeting, forecasting and reporting. The solution is suitable for a wide variety of company sizes. Delivered over the Web in a software-as-a-service (SaaS) model,... Read More

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AccuFund Accounting Suite logo
 
AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read More
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AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read More
 
Vena Cloud logo
 
Vena is a cloud-based, corporate performance management (CPM) solution that leverages native Microsoft Excel and maps existing spreadsheets, models and formulas to a secure database, eliminating the need for manual work and driving... Read More
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Vena is a cloud-based, corporate performance management (CPM) solution that leverages native Microsoft Excel and maps existing spreadsheets, models and formulas to a secure database, eliminating the need for manual work and driving... Read More
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
 
Abila MIP Fund Accounting logo
 
Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
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Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
 
Sage Live logo
 
Sage Live is a cloud-based and mobile-ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a cloud-based and mobile-ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More

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Financial Edge by Blackbaud logo
 
Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read More
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Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read More
 
VersAccounts Small Business Cloud ERP logo
 
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
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VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
 
BNA Fixed Assets logo
 
BNA Fixed Assets from Bloomberg BNA is a system that helps companies of all sizes manage the entire lifecycle of their fixed assets, from construction and purchase through retirement. BNA Fixed Assets eliminates duplicate entry and... Read More
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BNA Fixed Assets from Bloomberg BNA is a system that helps companies of all sizes manage the entire lifecycle of their fixed assets, from construction and purchase through retirement. BNA Fixed Assets eliminates duplicate entry and... Read More
 
Sage Fixed Assets logo
 
Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
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Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
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Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More

Call us for a free FastStart Consultation: +64 4 488 7035


 
BudgetPak by XLerant logo
 
BudgetPak by XLerant is a cloud-based Accounting solution that offers stand-alone Budgeting and Forecasting, as well as integrated Financial Reporting. It’s suited for midsize to large organizations in a variety of industries including... Read More
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BudgetPak by XLerant is a cloud-based Accounting solution that offers stand-alone Budgeting and Forecasting, as well as integrated Financial Reporting. It’s suited for midsize to large organizations in a variety of industries including... Read More
 
Host Analytics EPM Suite logo
 
Host Analytics EPM Suite is a cloud-based Enterprise Performance Management solution. Host Analytics EPM Suite is suitable for mid-sized to large businesses seeking a system that can provide insights into their business. It includes... Read More
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Host Analytics EPM Suite is a cloud-based Enterprise Performance Management solution. Host Analytics EPM Suite is suitable for mid-sized to large businesses seeking a system that can provide insights into their business. It includes... Read More
 
Xpenditure logo
 
Xpenditure is an expense reporting solution designed to automate the expense management process and it suitable for businesses of all sizes, including independent contractors. It allows users to scan and digitize receipts using a mobile... Read More
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Xpenditure is an expense reporting solution designed to automate the expense management process and it suitable for businesses of all sizes, including independent contractors. It allows users to scan and digitize receipts using a mobile... Read More
 
Certify logo
 
Certify is a web-based expense management solution recommended to companies in any industry. The solution can be used to track, approve, and reimburse expenses; book travel; and analyze spend. With Certify Mobile, users can capture... Read More
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Certify is a web-based expense management solution recommended to companies in any industry. The solution can be used to track, approve, and reimburse expenses; book travel; and analyze spend. With Certify Mobile, users can capture... Read More
 
Flexi Software logo
 
Flexi Software is a financial accounting and process-driven workflow software solution for the banking, insurance, financial services, healthcare, and other service industries. The accounting solution is fully integrated, providing... Read More
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Flexi Software is a financial accounting and process-driven workflow software solution for the banking, insurance, financial services, healthcare, and other service industries. The accounting solution is fully integrated, providing... Read More

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FrontRunners for Accounting, October 2017

Powered by Gartner Methodology

What Is the FrontRunners Quadrant?

A Graphic of the Top-Performing Accounting Products

FrontRunners quadrants highlight the top software products for North American small businesses. All products in the quadrant are top performers. Small businesses can use FrontRunners to make more informed decisions about what software is right for them.

To create this quadrant, we evaluated over 200 Accounting products. Those with the top scores for their capability and value made the quadrant.

Scores are based largely on reviews from real software users, along with other product performance details (e.g., what features they offer, how many customers they have).

Is One Quadrant Better Than the Others?

Nope, Products in Any Quadrant May Fit Your Needs

Every product in this quadrant offers a balance of capability (how much the products can do) and value (whether they’re worth their price/cost) that makes them stand out in the race for small business software success.

FrontRunners has four sub-quadrants:

  • Upper Right = Leaders: Leaders are all-around strong products. They offer a wide range of functionality to a wide range of customers. These products are considered highly valuable by customers.
  •  
  • Upper Left = Masters: Masters may focus more heavily on certain key features or market segments than Leaders do. If you need a more specialized set of functionality without bells and whistles, then a product in the Masters quadrant might be right for you.
  •  
  • Lower Right = Pacesetters: Pacesetters may offer a strong set of features, but are not rated as highly on value. For example, a Pacesetter might offer greater functionality, but cost more.
  •  
  • Lower Left = Contenders: Contenders may focus on a more specialized set of capabilities that are priced at a higher point. This makes them ideal for companies willing to pay more for specific features that meet their unique needs.

Depending on the specific needs of a software buyer, a product in any of these sub-quadrants could be a good fit.

Why? To even be considered for this FrontRunners, a product had to meet a minimum user rating score of 3.8 for capability and 3.8 for value. This means that all products that qualify as FrontRunners are top-performing products in their market. They appear in the quadrant in relation to how their peers performed.

For some buyers, a specific FrontRunners sub-quadrant might be best. For example, larger organizations or businesses that keep separate accounts for individual projects might lean towards vendors in the Leaders quadrant that offer a broader array of functionality. Niche companies, on the other hand, may find products that are a better fit in the Masters or Contenders quadrants.

You can download the full FrontRunners for Accounting report here. It contains individual scorecards for each product on the Frontrunners quadrant.

How Are FrontRunners Products Selected?

Products Are Scored Based on User Reviews and Other Data

You can find the full FrontRunners methodology here, but the gist is that products are scored in two areas, Capability and Value.

To be considered at all, products must have at least 10 reviews and meet minimum user rating scores. They also have to offer a core set of functionality—for example, core accounting functionality includes general ledger, accounts payable, accounts receivable/invoicing and bank reconciliation.

From there, user reviews and other product performance details, such as the product's customer base and the features it offers, dictate the Capability and Value scores. Capability is plotted on the x-axis, and Value is plotted on the y-axis.

Got It. But What if I Have More Questions?

Check Out Our Additional Resources!

For more information about FrontRunners, check out the following:

Have questions about how to choose the right product for you? You’re in luck! Every day, our team of advisors provides (free) customized shortlists of products to hundreds of small businesses.

  • Simply take this short questionnaire to help us match you with products that meet your specific needs.
  •  
  • Or, talk to one of our experienced software advisors about your needs—it’s quick, free, and there’s no-obligation—by calling (844) 687-6771.

One Last Thing—How Do I Reference FrontRunners?

Just Follow Our External Usage Guidelines

Check out the FrontRunners External Usage Guidelines when referencing FrontRunners content. Except in digital media with character limitations, the following disclaimer MUST appear with any/all FrontRunners reference(s) and graphic use:

FrontRunners scores and graphics are derived from individual end-user reviews based on their own experiences, vendor-supplied information and publicly available product information; they do not represent the views of Gartner or its affiliates.

Runners Up

Providers listed as Runners Up were considered for inclusion in the quadrant, but were ultimately not included for one or more reasons: they did not have enough reviews; they did not meet the reviews score minimum; they did not meet the ultimate Value and Capability minimum scores; or they did not meet our functionality requirements for the market.

ABS by Meharsoft
Accounting ASAP
Accounting Power
Accounting Xpert
AccountMate
accountsIQ
Accurants
Adra Accounts
AdvisorFi
AND CO
Aqilla
AQURA
Aria
ARMnet Integrated Banking
Aspekt Microfinance Software
AvidXchange
Aynax
BanktoBook
BankUltimus
BeansBooks
Big Red Cloud
Billcue
billfaster
Billtrust Invoice Management
Bizz Wizz
bkper
BlackLine Financial Close Management
Buildium
Busy Accounting Software
Canopus Money Transfer
CasetrackerLaw
Cashbook Complete
Cashflow Manager
CashManager
CenterPoint Accounting
CentralBOS
CHASER
Cheqbook
CoBIS Microfinance Software
Commerce Sync
Connected
CorePlus by Probanx Information Systems
Corniche
Costpoint 7
Crunch
Crunched
Crush
CS Professional Suite
DataServ SaaS AP Automation
Daxko Accounting
Debitoor
Decision Builder
Deltek Project & Portfolio Management
Deskera ERP
Dynacom Enterprise
e-conomic
Easy Accountax
EBANQ
Ecount ERP
emPower
enVisual
Epicor ERP
ERPAG
ERPLY Books
Esker Accounts Receivable
Exact Globe Next
Exact Online
Exactor Software
Exchequer
Expeni
Express Accounts
Finacle
FinnOne
FINSYNC
Flexi Software
FloQast
Fyle
Gem Accounts
GetMyInvoices
GoSimple Software
HighLine
Holded
Host Analytics EPM Suite
iCBS
InFocus ERP
Infor CloudSuite Business
Infor CloudSuite Financials
Infor Expense Management
Infor10
Insite Banking System
IntelligenceBank Boards
INTERAC
Intertec Accounts Payable
Invoice Ninja
Invoice2go
IRIS Accountancy Suite
Kapowai Online Banking
KashFlow
kpi.com
Lariat
Late Fee Manager
Link4
Manager by manager.io
Microsoft Dynamics NAV
Minute7
Moneyman
move2clouds
MPS IntelliVector
Multiview Enterprise .NET n10
MYOB
NeatReceipts
NetSuite Financials
NexorONE
NextGen by Harris School Solutions
NolaPro
Odoo Accounting
ONE UP
Oneir
OneNFP DonorVision
OneStep Accounting
OneStream XF
Oracle E-Business Suite
Outright
PayStand
PEX
Pi.TEAM
Pleo
PlusOne
Priority Software
Reckon One
Rerun
Restaurant365
Revenue & Expense Deferrals
RISKTURN
Roboeyelabs
Saasu
SafeBUDDY
Sage 100c
Sage 300 ERP
Sage 300 Online
Sage 50
Sage Live
Sage One
SAP Anywhere
SAP Business ByDesign
SAP ERP
SapphireOne
Scan One
Serenic Navigator
ShreeMon Account Payables
Skybill
Slingshot Enterprise Business Suite
Smarty
SoftLedger
SortMyBooks
Sparkrock
Standard Accounts
SYMPAQ SQL
T-Recs
Tally.ERP 9
ThinkOut
TopNotepad
TrackerSuite.Net
Trade360
Tradepoint Enterprise
Traverse NFP
TurboCASH
TurningPoint for Accounting
UAS
uLawPractice
Unanet
UNIT4 Coda Financials
Validis
Vena
VersAccounts
WinWeb Cloud ERP
Workday Financial Management
xTuple
Yendo
Zahara
zeb.control

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: December 12, 2017


There is a vast array of accounting softwares and financial management solutions on the market today, with specialized functionality for almost any industry or size of organization. Moreover, the specific type of accounting can differ between programs—project, fund and fixed asset are examples.

Add to this variety the constant change of standards, compliance requirements and technology platforms, and the process of selecting enterprise accounting software gets tricky. This buyer's guide is intended to make the process much more bearable.  

Here's what we'll cover:

What Is Accounting System Software?
Application Categories
What Type of Buyer Are You?
Market Trends You Should Understand
Benefits & Potential Issues
Recent Events You Should Know About

What Is Accounting System Software? 

Business accounting software keeps track of the financial transactions within an organization. A core package includes the following modules:

Spending statistics in Quicken

Spending statistics in Quicken

These systems occasionally come with specialized functionality for particular types of businesses or companies. An example is fund accounting for nonprofit organizations and government entities. Because it's a critical business process, it's often a central component of an organization's enterprise resource planning (ERP) system.

Application Categories

Core accounting Core systems assist with the basic functions necessary to balance a business' books, including general ledger functionality, the ability to track accounts payable (A/P) and accounts receivable (A/R), fixed assets and bank reconciliation. Every business requires these core functions to manage its finances.
Project accounting This type of system helps project-oriented businesses maximize job profitability and efficiency by tracking detailed project costs. Businesses can examine past job costs and estimate future costs to choose the jobs that will achieve adequate profit. It tracks by project factors like labor, overhead, materials and equipment to improve decision-making.
Fund accounting These solutions support nonprofit and governmental entities in tracking their development and spending of funds. Nonprofit organizations can track their expenditures of donations or grants to make sure they meet fund provider requirements. These systems also allow government entities to make sure they meet unique Governmental Accounting Standards Board (GASB) regulations.
Inventory management This type of solution helps companies keep the correct inventory levels to maximize profit, avoid overspending and minimize the costs associated with inventory depreciation. The right system keeps inventory information up-to-date by tracking product levels as well as orders, sales and deliveries. The Generally Accepted Accounting Principles (GAAP) stipulate specific ways to account for inventory to ensure proper reporting of value for inventory that has depreciated or undergone other changes. Software with inventory management capabilities ensures this is done correctly.
Billing & invoicing These systems automate the collection of payments from customers to enable timely and consistent collection with minimal human error. There are many different types of billing and invoice systems designed to support the wide range of industries, business models, payment methods and operational scales.
Budgeting & forecasting Users can leverage budgeting and forecasting solutions to project a company's financial outlook from historical data and estimate future conditions. These systems are typically used in businesses that must consolidate multiple departmental forecasts and budgets, and are most helpful where multiple variables drive the ultimate forecast.
Fixed asset accounting This type of system tracks fixed assets by providing a central database of important asset information, including location, check-in and check-out, due date for return, maintenance scheduling, audit history, cost and depreciation. Depreciation schedules are a core element of this specialty.
Payroll management Payroll systems help businesses track and process employee payrolls. They also compose and print paychecks, automatically withhold and pay government taxes and generate the necessary legal and tax reports on a regular basis. Automated reminders to pay required fees help businesses avoid legal penalties.

What Type of Buyer Are You?

Before evaluating your options, you must determine what type of buyer you are. Over 90 percent of buyers fall into one of these three categories:

Growing small-business buyers. These businesses are on the verge of upgrading basic systems, such as QuickBooks, to more robust small-business accounting systems that will support sophisticated functions (such as demand forecasting, intercompany accounts, increased data storage and others). Growing businesses upgrade their systems for a range of reasons. Industry-specific functionality will become important when a small company reaches a certain size threshold.

Enterprise buyers. These buyers represent businesses and organizations that need the functionality of a full enterprise resource planning (ERP) suite. Usually, these systems will include functionality for multi-company consolidation, international operations and foreign currency and other concerns relevant to large entities. Seamless integration is usually more important than specific features; however, there is considerable differentiation in both of these areas, and buyers should examine both. SAP and Oracle, two of the largest vendors, have some of the most feature-rich systems on the market.

Best-of-breed buyers. These buyers are focused on specific functions. For example, nonprofit organizations need to look specifically for accounting software for business that can perform fund accounting. This method tracks funds in such a way that different grant providers can see the right report on how each fund amount has been used. Meanwhile, in education, universities and colleges often need software specific to higher ed, for example to track the disbursement of financial aid. Construction companies or engineering firms, on the other hand, usually need a system that can break down costs by each project, location and other characteristics. For best-of-breed buyers like these, functionality is often more important than integration.

Benefits & Potential Issues

The key benefits of financial management systems are clear: better visibility of costs and expenditures, which leads to more financially responsible decision-making. In addition, systems can generate reports in a variety of ways to summarize this information cleanly for the right audience.

For example, nonprofits can generate reports specific to a particular grant provider, detailing exactly where every cent of the funding ended up. This allows an organization to be accountable to investors, donors and lenders, maintaining trust and avoiding financial damage. These systems also allow companies to ensure compliance with reporting standards and federal requirements.

There are a number of issues that should be avoided when selecting a solution. Buyers in certain vertical industries must make sure the appropriate modules are included in the system they purchase. For example, engineering firms and construction companies should choose a system with a project accounting module.

Another issue is a company's rate of growth; the buyer should consider how fast the company is growing at the time of purchase. This way, the company will not grow out of a system immediately after investing considerable time and funds in the selection and implementation processes.

Market Trends You Should Understand

As you evaluate accounting software packages, consider these current market trends:

Software-as-a-Service (SaaS). SaaS is picking up speed as buyers realize the advantages of lower upfront costs and quicker implementation time. NetSuite is a prominent example of a SaaS system: In fact, it is available only as a SaaS offering.

Mobile apps. Mobile applications are gaining popularity across the board, and accounting is no exception. Check to see how each vendor is innovating on this front.

Increased specialization by industry. Increasingly, consumers are demanding more industry-specific features, and vendors are listening. Products that were once “horizontal”—such as Sage MAS 90/200, QuickBooks and Microsoft Dynamics—are increasingly adding new vertical features to cater to buyers’ specific industries. Make sure to keep a lookout for features that fit your particular industry when investigating tools and solutions.

Business intelligence. Interest in business intelligence is on the rise. Business intelligence takes the massive amount of data collected and organizes it into reports designed to support business improvement. Many vendors are now integrating business intelligence into their ERP accounting and financial management systems.

Recent Events You Should Know About

Oracle acquires Netsuite. In July 2016, Oracle purchased Netsuite, further expanding the already impressive reach of its cloud platform. Netsuite’s financial management solution has become a key player in the small and midsize business (SMBs) accounting market, while Oracle is well-known in the enterprise space. It will be interesting to see how this merger will impact customers in the long term—in the interim, users should expect more integrations between NetSuite and Oracle products.

Sage adds chatbot and AI to cloud accounting software. Initially launched at the Sage Summit conference in 2016, Sage officially released its chatbot with its Sage One software in January 2017. The chatbot, Pegg, uses artificial intelligence (AI) technology to provide businesses with a “virtual accounting assistant.” With Pegg, users can track receipts, submit expenses, see which customers are behind on invoices and more.

Zoho launches customized payment solution: Zoho Checkout. Zoho’s newest addition to their financial suite is a customizable online payments solution designed for businesses of all size. Users can build and brand a secure payment page, connect with a payment gateway and collect one-time and recurring payments from customers. Zoho Checkout is available in both free and paid plans, with capabilities increasing as plans scale.

 

Free Download:
Accounting Software Pricing Guide

Free Download:
Guide to Evaluating Accounting Software Demonstrations

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