It’s time to look ahead to the key technology trends for accounting software for 2016. With the rapid changes in technology over the past few years, businesses need to adopt crucial trends in order to remain competitive. Let’s look at the latest technology trends that affect accounting ERP software and other business applications.
Digital mobility remains hot.
Mobility isn’t new but its uses continue to alter the business landscape. In 2016, we will see continued integration of mobile devices with business practices. Large companies already accept mobile payments, but that capability will soon be expected across the board. All business functions will find uses for mobile devices; yes, even accounting. With business applications that can talk to any device, employees in every function will be able to collect, analyze and report on information on their smartphones. New mobile technology in the form of wearables will also move into the business world.
The cloud becomes ubiquitous.
Businesses are moving their systems to the cloud in droves. On-premises accounting applications are rapidly being replaced by cloud accounting ERP software because cloud applications offer efficiency and cost savings. As a result, subscription models are becoming commonplace. For businesses, subscription models offer a recurring revenue stream.
Cybersecurity is an increasingly high priority.
Increased connectivity means that security threat detection and mitigation will remain a spending priority. The unrelenting adoption of cloud, mobile and social media have significantly increased the complexity of how corporations and individuals interact with and try to protect their devices, systems, data, personal information and money. Self-protecting applications and behavior analytics stand to improve security.
Big data and the Internet of Things (IoT) impacts everything.
Users are becoming increasingly global and consuming more data. Big data analytics and the Internet of Things (I0T) will continue to impact how we do business. IoT is about interconnecting and creating intelligence from all the devices around us. This game-changing technology can offer enormous cost savings and massive productivity enhancements in the future. The sheer volume of data is staggering, but it offers a world of opportunities for businesses to better market to prospective customers, develop in-depth user profiles, and enhance daily business.
System integration will become more prevalent.
While system integration across all applications is not new to the world of ERP. Connectivity and big data further drive the need for all business systems to be operating on a common database. ERP software companies will create more partnerships to enable seamless transfers of information and a single point of access.
Business intelligence is visual and available to everyone.
People have an increased appetite for more advanced analytics to answer deeper questions. Visual analytics will serve as a common language, empowering people to reach insights quickly, collaborate meaningfully and build a community around data. Advanced analytics are for everybody not just the analysts.
3D printing is not far off.
3D printing experts have a large number of different products, parts and supplies available for download. Soon businesses will simply download 3D printing files and then use those plans to create and build products. Revenue streams in royalties will be paid to the people and companies creating the designs.
Talent management is a critical strategy.
As the economy improves and the employment market tightens up, expect to see more attention paid to attracting and retaining talent. Human resource management systems (HRMS) with talent management will be more critical to be competitive in the hiring market.
Emerald TC is proud to provide accounting and ERP software solutions that keep up with important technology trends. Acumatica accounting software is a cloud ERP solution for manufacturers. Acumatica is based on the latest cloud technology with enhanced mobility, comprehensive functionality and social collaboration tools. We also sell and support Sage solutions—accounting ERP software with mobile access and a variety of deployment options including in the cloud.
We offer accounting ERP software, services and support throughout the Southeastern United States including Atlanta, Birmingham, Nashville and others. Our consultants maintain a high level of product knowledge and work hard to stay on top of the changing trends and technologies. Give us a call if you would like to update your accounting ERP software.