(IT-NEWSWIRE.COM, June 26, 2020 ) Best Accounting Software is used by accounting professionals to manage day to day accounts and perform other accounting operations. It is systematized practice, work or process of communicating and recording financial data. A business organization use accounting software for various purposes including internal and external audits, required reports and financial analysis to meet legal or internal managerial requirements.
Accounting software ranges from simple and easy, single-entry programs for individual record-keeping to more urbane, double-entry systems that can process accounts receivable, accounts payable, payroll and inventory, among other functions.
360Quadrants, the most granular comparison platform, has released a quadrant on accounting softwareto help businesses make quicker and more informed decisions. The quadrant has QUICKBOOKS, SAGE SOFTWARE, FRESHBOOKS, and NETSUITE (BY ORACLE) sharing space as Visionary Leaders. 360quadrants are generated post analysis of companies (product maturity and company maturity). Quadrants will be updated every three months based on market and regional analyses and developments in accounting software. 360Quadrants also list the 20 best companies in the accounting software space.
40+ companies offering accounting software were analyzed of which top 20 companies were shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
ACUMATICA, BLACKLINE, THOMSON REUTERS, FRESHBOOKS, NETSUITE (BY ORACLE), ODOO, ORACLE CORPORATION, QUICKBOOKS, SAGE SOFTWARE, SAP Business One (SAP SE), WORKDAY, XERO LTD., and ZOHO CORPORATIONhave been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
MICROSOFT has been identified as innovators as it has focused product portfolios, but a mediocre business strategy in accounting software space.
FREEAGENT, SUNRISE, SYSPRO, and WAVE have been recognized as dynamic differentiators as they have strong business strategies, but a weaker product offering as compared to other market players. These companies are known to focus on specific product offerings as opposed to an elaborate portfolio.
THE GNUCASH PROJECT, and INFOR INC have been identified as emerging companies as they have a niche product offering but poor business strategy.
360Quadrants conducts an in-depth SWOT analysis and accurately analyses the companies considered for evaluation. This helps service providers in learning about new opportunities and areas where they lag their peers. It also helps clients in choosing the most appropriate vendor for their requirements.
360 SCORING METHODOLOGY
Top Accounting Software will be rated using the following methodology -
1. A highly experienced team of researchers and senior analysts conduct extensive research to generate a list of vendors (competitors).
2. A patent-pending algorithm is used to collect inputs from key stakeholders—industry experts, buyers, vendors, and 360Quadrants analysts—based on criteria for Product Maturity and Company Maturity.
a. Criteria under Product Maturity include breadth and depth of product/service offering, product features and functionalities, product differentiation and their impact on customer value.
b. Criteria under Company Maturity include geographical footprint, partner ecosystem, financial stability, and client coverage or sector footprint.
3. Approximately 30+ in-depth parameters will be considered for research for the accounting software. These parameters will be updated every 6 months to ensure latest developments are taken into consideration.
4. A weight is assigned to each stakeholder based on information gathered pertaining to the above criteria as well as inputs from stakeholders. These inputs follow the order of priority given below:
b. Industry Experts
c. 360Quadrants Analysts
d. Vendors (Competitors)
5. The inputs are analyzed, and a final rating is assigned to each vendor (competitor).
6. After the finalization of ratings, each vendor is placed in the most relevant quadrant based on their score.
360Quadrants is the largest marketplace looking to disrupt US $6.3 trillion of technology spends and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insight using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and start-ups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide. The platform has around 400 total buyers across various markets.
360Quadrants will also be launching quadrants in fields like Digital transformation Software, Cloud computing Software and Access Control Software.
Mr. Agney Sugla