I've heard in the past that clients are outgrowing their entry-level accounting solutions and they are looking to upgrade but they want information from a reliable source (aka: 'Murph') about their alternatives. But before I commit Insightful Accountant to expanding our focus I am attempting to find out if our readership really does have an interest in this area of the accounting technology space, and if so, what products they are interested in?
I also need to know the extent you would like to see any of these products explored and presented, as well as the format(s) appropriate for their presentation?
Let me be even more frank with you... "I don't want to waste my time researching products for 30 or 40 hours, or longer, then spend a dozen hours writing about a product, and find that I have only had 3 or 4 people read a 2400-word article I write." So, "if you aren't interested in the mid-market, then there is no reason for me to waste my time on it and I will just continue writing about the things I know that work for 'small business'."
I have briefly summarized each of the products I am considering for 'mid-market' coverage in this article, but what I really need you to do is take 2 minutes and fill out this SURVEY and tell me your interests.
Murph
AccountMate
Ideal mid-market accounting product offering financials, inventory and ERP functionality. While perhaps not as sophisticated as some other products within the Mid-Market Accounting Product space, it’s flexibility makes it worth considering in many business applications.
AccountingSeed
Specialized software designed to work within the user’s Salesforce accounts to provide accounting and financial management functionality. Tracks financial data associated with the business lifecycle for each Salesforce CRM Contact, provides project and order management tools, manufacturing and supply chain processes, customer statements, invoicing, check printing and full-featured general ledger with company-specific needs.
AccountingSuite
AccountingSuite is an accounting solution for handling all financials including general ledger, payables, receivables, and related subsidiary ledgers. Provides mid-market business owners with fast, customizable access to financial information and reporting tools to make critical business decisions in conjunction with their accountant because AccountingSuite is Cloud-based. Offers a wide variety of other capabilities including Inventory Management, Project and Time Tracking and Cloud Commerce.
Acumatica
An outstanding mid-market accounting product that easily scales to enterprise capabilities. Offering general ledger, inventory and ERP as well as multiple-other functions via 3rd-party add-ins. Available for either Cloud or on-premises deployment.
BQE Core
BQE Core is a cloud-based solution that offers integrated business accounting, project management, and business intelligence. It can support the operations of a variety of industries, including legal services, architecture firms, engineering, accounting, consulting, graphic and interior design, and more. The system is suited for mid-sized businesses looking for a professional services solution with built-in accounting and customer management functions.
Denali Cougar Mountain
A fully-integrated accounting and financial management software package with sound reporting capabilities to make accounting for mid-market companies easy. Consistently high-ranked by accounting professionals because of it’s ‘Audit Trail’ functionality. Available in 2 versions ‘Fund’ for non-profits, and ‘Business’ for mid-sized companies. They offer a companion ‘payroll’ product that plugs-into either of the accounting packages (but which can run stand-alone). These products are deployed locally.
Epicore
Epicore is designed to meet all of the accounting needs of a business as it scales up from smaller companies thru mid-market to enterprise level. Provides core financial management features including general ledgers, A/P, A/R, payroll, asset management, and multi-currency. Offers multiple deployment options, and remote access via both iOS and Android Apps regardless of deployment method.
FinancialForce
Provides mid-market companies with a view of business no matter how simple or complex as they grow over time. From a single location to multiple business units in one country to global operations working in different currencies, FinancialForce supports advanced reporting to track the business requirements. Basic financial features such as general ledger, accounts payable and accounts receivable along with more advanced capabilities such as fixed asset management. Can be deployed either on-premises or in-the-cloud.
Gravity
Big dollar features for small price point pretty well sums up Gravity. You get more features for the cost from this mid-market solution. Gravity offers a lot of functionality that you typically would only find in products aimed at Enterprise-level businesses. Microsoft 365 based solution allows you to easily navigate through every aspect of the program and supports multi-entity (unlimited) within the same database. No need to open multiple company files. Full feature includes general ledger, cash management, reconciliation management, receivables and billing, project management, and more.
Infor CloudSuite
AWS hosted Accounting/ERP offering some of the latest advancements in enterprise functionality for mid-market businesses. Global general ledger, cash management, reconciliation management, receivables and billing, project management, asset management and close management are part of the feature set.
Microsoft Dynamics 365 Business Central
MS Dynamics 365 Business Central is a comprehensive business management solution designed for medium-sized businesses providing increased financial visibility, optimized supply chain management, sales and service enhancement, and project/budget management. Business Central is implemented and supported on the Microsoft Dynamics 365 Server Environment.
Open Systems
This is a long-standing product that hasn’t changed much over time and while it is functionally as capable as it has always been, it doesn’t have ‘the look’ that most users are seeking today. Offers both in-house or hosted implementation, most tweaking and customization has to be done as ‘support work’. Set-up and configuration is also more complex than one would expect in today’s environment, may be more suitable for businesses with sophisticated IT Departments.
Oracle NetSuite
Oracle NetSuite is a fully-featured mid-market solution providing a wide variety of industry specific options in addition to core functionality. This cloud software encompasses functions like financial management, supply chain management, distribution, CRM, HR & Payroll, and much more. Built-in workflows and increasing automation of routine tasks are enhancing NetSuite functionality with each new semi-annual release.
QuickBooks Enterprise (Diamond)
QuickBooks Desktop Enterprise Platinum Subscription with the Diamond Package includes valuable tools for manufacturers, wholesalers, contractors, and retailers, up to 40 users, time-tracking, and more advanced payroll features including both TSheets Elite time-tracking and 'Assisted Payroll'. It features Advanced Inventory capabilities, Advanced Pricing functionality, and Advanced Reporting. Free Unlimited Online QuickBooks courses, Online Priority Circle care, U.S. Based technical support, and Online Backup Data-storage. Automatice Product upgrades are included in this subscription level service. On-premises, or hosted options are available.
QuickBooks Online-Advanced
QuickBooks Online Advanced is an end-to-end cloud-based accounting software that can help mid-market companies grow. It comes with a centralized dashboard, which enables users to gain insights into business trends and organizational performance using key performance indicators (KPIs). Allows administrators to assign tasks to sales representatives, grant access to specific users and collaborate on projects with team members. Users can capture digital copies of receipts and automatically sort transactions based on tax categories, improving financial operations. Create custom estimates, manage recurring payments and export reports. Connects with numerous 3rd-party Apps for additional capabilities.
Sage 100c
Full featured accounting solution, Sage 100c is an Accounting/ERP with multiple-modules that provides configurability such that it can meet the needs of many different types of mid-market businesses, and grow with them. Experience new ways of working so that you can work in multiple locations and countries because you are running your accounting in the Cloud always available via the Internet.
Sage 300c
Sage considers this their ‘mid-range’ accounting and ERP platform. With modular design it offers a variety of features and functions although the product hasn’t changed significantly over time and it therefore isn’t as ‘modern’ as either other Sage or competitive offerings.
Sage Intacct
Sage Intacct gives mid-market businesses basic accounting features like general ledger, cash management, purchasing, accounts payable and accounts receivable as well as more advanced capabilities that allow users to individualize the solution based on specific needs. It is noted for its quality, reliability, speed and scalability, in addition to its ability to integrate with numerous other 3rd-party products.
Sage X3
Sage X3 offers both on-premises and cloud deployment for mid-to-upper size businesses. More than other Sage products X3 gives users more control over the ‘workflow’ of business processes by providing streamlined operational processes and automation where possible. X3 maybe better suited for specific types of businesses that have needs for process-based functionality such as process manufacturing, discrete manufacturing, and compliance based inventory-centric distribution.
SAP Business One
Traditional Enterprise Resource Planning (ERP) platform that is likely too complex for most mid-market accounting users, sill has good features and overall flexibility that may meet the needs of some businesses especially those with sophisticated processes or complexities.
SYSPRO
SYSPRO is an Accounting/ERP providing financial management, cost tracking and controls, customer-service (CRM) and order management, supply chain and inventory management, sales analysis and regulatory compliance capabilities. Manufacturing and distribution companies makeup the majority of their customer base. On-site, Cloud or Hybrid deployments available
Traverse
Traverse by Open Systems is an ERP with accounting, distribution, manufacturing and reporting designed to meet the needs of mid-market and larger companies. Additional functionalities including A/R, bank reconciliation, inventory, warehouse management, multi-level-BOMs, materials-requirement-planning, and interactive workflows. Realtime inventory and intuitive alerts for everything from material requirements to warehouse upkeep are functionalities you won’t find in a lot of other ERPs.
ZohoBooks
Intuitive on-line accounting for small to mid-market companies. Good finance and cash-flow features with real-time bank connections. Convenient professional invoicing with on-line payment capabilities helps speed-up payments.
Now that you have read our brief descriptions of the various mid-market accounting products we are considering, please tell me what you think by completing the short survey you will find HERE. This survey should take you just 2 or 3 minutes at most. I really need to know your interest.