What is best-in-class cloud accounting software?
Best-in-class accounting software is the next generation of enterprise resource planning (ERP) solutions. This includes any software that can integrate with other business apps. And best-in-class accounting software doesn’t just help you keep tabs on your books — it also helps other aspects of your business run smoothly.
Plus, features like cloud storage and mobile app access ensure that your data is secure and always available to you and your team wherever and whenever. Modern accounting software is flexible enough to adapt to the needs of a growing business, from small businesses to huge enterprises with large teams and global operations. Even better? It’s cloud-based, so it automatically syncs across your devices.
The next generation of ERP solutions
Traditional ERP systems are designed for large organizations with significant business operations and need in-depth financial management. Unfortunately,these systems were not built to be easy to use or affordable for smaller businesses — and they often required extensive customization to meet the needs of these smaller customers.
Today’s best cloud accounting applications, like Sage Intacct and Acumatica, are designed for entrepreneurs and small businesses, offering advanced functionality at an affordable price point.
Integrated business apps
To be counted as a best-in-class solution, it must be able to integrate with other business apps. This includes any software that can integrate with CRM, HR, and POS apps — or even inventory management or other business functions, depending on your industry and business needs. These integrations are critical for modern businesses to keep track of all the information flowing through their organization.
Best-in-class accounting software for growth
Best-in-class is a school of thought that searches for the strongest solution for each part of your business.
For example, Sage Intacct is an accounting solution – the only one preferred by the AICPA. However, most small- to medium-sized businesses – especially those that foresee rapid growth and development of the business model – need more than just financials. The Sage Intacct team knows the software is excellent at financials. By that same logic, they know other developers are best at their own solutions.
So, part of their business model is high-quality integrations with many market leaders in their respective spaces, like Salesforce and Criterion.
Cloud Accounting Software Integration
Most of these platforms use an API system based on REST architecture. REST is a framework for creating APIs that are particularly suited to use with cloud options, as they use less bandwidth than other types of APIs.
Using REST API means that, even if there is no current integration available on their marketplace for the program a user wants to retain, it is easy to access the necessary documentation and make those changes. There are also no strict standards for REST APIs, making it simpler to implement, and since REST is strictly an architectural style, multiple integrations are easier to handle.
You can easily scale up or down as your needs change over time. As your company grows, you can add new features and users without worrying about breaking anything.
If you’re interested in learninghow deploying a best-in-class software solution can help you get better visibility, improve margins and increase efficiency across your entire organization, reach out to our team of tech experts for a personalized demo!