Many businesses are comfortable to switch to cloud accounting as the value of cloud systems is more easily recognised today. This has lead to a dramatic surge in sales for cloud accounting systems with most software vendors in this field experiencing 50% or 60% growth in their cloud offerings year on year. So which are the solutions of choice for Australian businesses in 2016?
Current figures show these are the 6 most popular cloud accounting systems in Australia. (Note that Hybrid [online/offline] systems are not included in these figures.)
- MYOB Essentials – 195,000* (inc NZ)
- QuickBooks – 53,000
- Reckon One
- Sage One
- Xero – 321,000
While figures from several of the above mentioned firms are a little vague (or not released), we believe this list gives a good snapshot of the current landscape (listed alphabetically). Also note that we are only comparing paid versions of cloud accounting systems. There are some very good free cloud accounting systems gaining traction in the Australian market, but that is a story for another day.
Whichever solution you choose to suit your business environment best, we encourage you to consider the online marketplaces of the software firms. These offer a raft of add ons designed to enhance operations for any type of business and may cover a feature for your specific environment. For example, Link4 is available for all of the popular accounting systems mentioned and this takes the pain out of the invoice cycle. It is definitely worth considering.
Business owners switching to a cloud accounting system have expressed several positive effects on their business. Read about the 9 Reasons Why Businesses Switch to Cloud Accounting Solutions to see why many of them were motivated to make the switch.
*Several figures referred to in this article were sourced from this AFR article