In the small business world, Intuit’s QuickBooks accounting software continues to dominate. When QuickBooks first debuted in the early 1990s, it quickly claimed up to 85% of the market, and subsequent releases have maintained and even increased that impressive share, with an estimated five million companies using the program today.
Yet change is brewing, as a recent Forbes article indicated, with cloud-based software-as-a-service (SaaS) solutions overtaking traditional installed versions of QuickBooks. Intuit has responded by ramping up adoption and implementation of QuickBooks Online, but other competitors are entering the market. Xero recently raised $150 million, and Intacct has received multiple rounds of financing over the past few years, while FreshBooks and NetSuite are competing directly with QuickBooks Online.
Some of these solutions are geared to the start-up or the mom-and-pop business, while others go after companies that have multiple users and need advanced tools like sales order processing, purchase order, inventory and warehouse management, workflows, automation, and more complex reporting for cash flow and consolidations.
So what’s the right accounting software decision for you?
Depending on your comfort level with classic or modern infrastructure, and your long-term strategic goals, every business owner has a different decision to make.
CMIT Solutions still recommends QuickBooks and we have come up with a list of 9 Reasons Why QuickBooks Still Rules The Accounting World, Even As The Cloud Takes Over.