The Future of Accounting Software…Browser Based Solutions

by Ryan on January 2, 2008

Oracle Founder Larry Ellison’s IPO of NetSuite (NYSE: N) is the popular stock picker’s public confirmation that browser based softwares are the wave of the future, where all you need is an internet connection and a browser – not even a hard drive.  Browser based softwares including Salesforce (NYSE: CRM), Concur (NASDAQ: CNQR), and Intuit’s TurboTaxOnline and QuickbooksOnline (NASDAQ: INTU), whereby no desktop software need to be installed and users simply pay a monthly license fee while the provider manages all of the backups, storage, etc. are sweeping the accounting software business and rightfully so.  It’s only a matter of time before Microsoft’s Dynamics GP (formerly known as Great Plains) will adjust and starts offering it’s own solution, along with it’s CRM package, through a fully integrated online portal. If they don’t offer a cloud based accounting product, Microsoft’s may lose customers to the likes of Salesforce.com, NetSuite, Intuit, and Concur.

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  • This race to develop the most innovative accounting software is good news for the target users of said software solutions. The direction of new product development will be fuelled by the trend in consumer demand. On the part of accounting software developers, this race is an opportunity to refine their capabilities with the promise of obtaining monetary benefits by way of attracting new customers. Overall, this is a win-win situation for both the software developer and their customers.