We started this website with the theory that accounting software is about to experience a seismic shift. We’re not entirely sure where the inflection points will be located, what the catalyzing events will be, or what the end results will show. We know this shift is already under way, but it still feels under the surface, like a foreshock of a major earthquake. Will new technologies be diffuse from many industry providers or will it be dominated by a single, winner-take-all software giant? Will a single trusted individual be able to manage all the accounting service needs for a major corporation using software tech? Will it be completely automated? How adaptive will this software tech be to new tax and business laws written by local, state, and federal governments? Will tried-and-true accounting methods become automated, while accounting software development becomes solely about responding to new rules and regulations?
At the same time, modern accounting software isn’t just about efficiency and accuracy. There’s also the issue of data security. On the one hand, you have massive data and security breaches like we saw with the Equifax hack. On the other hand, you have news like this in which a survey found that investors’ confidence is at an all-time high for things like U.S. capital markets, publicly traded companies, and financial audits.