ICAEW runs the rule over internet accounting
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Excluded
I agree with Mark in that 'there is a need for this type of information in order to help practices come to terms with online accounting'
However we were disappointed to see that it did not include all online providers as we too had been excluded.
Kathryn Convery
Fusion Accounts
The report DOES have value
I agree with Duane about the costs. We chose to advertise, but the cost for being one of the "reviewed" products was far too high, especially as there is no assessement of each product's capability vs. the others.
However, it should not be completely rubbished. The first 15 pages of the report are useful for gaining a better understanding of online accounting. As I said in my earlier post on this thread, there is a need for this type of information in order to help practices come to terms with online accounting..
Mark Davies
UK Country Manager, e-conomic
Freedom from Evil
ICAEW credibility ......
Duane - So a truly impartial assessment based upon 'best of breed' !!!
How disappointing but sadly the way of the world nowadays - nevertheless, being an accountancy body one hopes they 'qualified their report' in the normal audit manner by failing to give a 'true & fair view'
Here is a thought - for the future perhaps ICAEW should take the Google Adwords approach and offer the best review to the highest bidder
mmm ...... Does wonders for the credibility of the ICAEW
Overpriced Adverts
Unfortunately this guide is just overpriced adverts.
KashFlow, Xero and Twinfield - all notable players in the online accounting market - aren't listed because they refused to pay to be included. More at at: ICAEW Report
Oh no! ... not citrix style apps again ...thought we had moved o
Quite right Mark
As discussions have said time & time again the SaaS approach is a fundamental redesign from the gound up and not a quick fix to port legacy apps so that the vendors can claim an 'online' status.
One would hope that the aforementioned ICAEW report makes a clear distinction between the 'Citrix' approach and genuine SaaS products
Get educated, don't be misled!
Diamond Online (which has been shamelessly plugged below without making a useful contribution to the discussion) is like Sage Online and a number of other solutions that include the word "online" in their name. They may have it in their name, but they are in the technological stone age.
They do the accounting and software industries a disservice by bracketing themselves with the new wave of web-based solutions, when what they provide is like the ASP services that fell flat in the first wave of online accounting, which failed because of high costs, poor performance and a quality of service not at the level needed by accountants with responsibilities to clients.
The vendors to work with are those who provide clarity about who they are, their commercial model, their security and operational arrangements, etc. It’s surprising how many refuse to provide up front clarity on their web site. What have they got to hide?
You don't need to be a geek to understand this issue. The aforementioned applications result in extra costs and poorer performance. Why? Because they can only be made available over a web-based connection via intermediate software that makes the accounting application “think” that you’re locally connected to the server. Not only do true web-architected applications not need this, they provide unparalleled low cost per client, better performance, more accessible tools and simpler data management.
A number of reliable vendors deliver the real web experience, e-conomic is not the only one. It doesn't take much research to find out who they are. See whether they provide key information on their web site and whether you can take a trial of the actual software without having to ring the vendor first, make a commitment or download any software.
Already there are tens of thousands of companies keeping their accounts in web-based accounting systems - enough (in some cases) to show that there are proven solutions. Some vendors provide accountant-focused tools enabling practices to combine improved efficiency with new client services. When up and running, this drives revenue and profitability in a way that’s simply not possible with old systems and old operating models.
Don’t take my word for it – open the white paper What Accountants Say to read the comments of others in the accounting industry with the same challenges as you.
Mark Davies
UK Country Manager, e-conomic
Freedom from Evil
Diamond Online and ICPA
ICPA members will be familiar with Diamond Online the accredited online accounting suite.
This product is available now to members with a cash back offer that means practice costs of nil whilst adding a new income stream and frankly making handling client's bookeeping and accounting so much easier than before.
We at the ICPA believe that online accounting is the future and Diamond Online is our chosen route to that future.
To find out more just checkout www.diamond-discovery.com and www.icpa.org.uk
Tony Margaritelli - Chairman ICPA
Don't forget the others
There are some solutions that decided not to be included in detail in the report, like Kashflow and Twinfield. It's also well worth checking out the Nigel Harris reviews of the various solutions here on AccountingWEB.
David Terrar
Business Two Zero and WordFrame and Twinfield
Link to site
Hi John, thanks for the mention. I just thought that I would add a link to our site too. Hope that's ok.
Richard Holmes
Online Accounting Software Since 2001
Winner 2008 Software Satisfaction Award - Web Hosted Software