Accountants 'increasingly using integrated practice suites'

News Article - 05 February 2007
Category: Business

Many accountants are increasingly using integrated practice accounting software suites, it has been revealed.

According to the results of the Institute of Chartered Accountants in England and Wales' (ICAEW) recent IT survey, more than a quarter of firms questioned said they now use practice management accounting software - marking an annual growth rate of more than 30 per cent since 2004.

Reports on the market share of software companies should be treated with caution ICAEW advised, with companies recording a drop in share not always being indicative of a loss of consumers, rather "it could be caused simply by others gaining new users who had no practice management software previously."

Among the findings was a rise in the number of practice websites and signs that hosted online bookkeeping services were growing in popularity.

"Satisfaction levels with the value realised from websites have increased significantly and there are high expectations that greater value will be realised over the next 12 months," the report reads.

According to website Accounting Software411.com, it is now rare to find an enterprise resource planning system which can cater specifically for the needs of both small and large businesses.

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