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Top 10 Accounting Solution Companies - 2022

The accounting industry has seen its fair share of disruption with the advent the modern technologies. For example, automation, minibots, machine learning, and adaptive intelligence have become part of the finance team at lightning speed. Today, many finance companies are also investing in advanced automated accounting processes, including supplier onboarding, accounts payable and receivable, procurement, expense management, close processing, and customer queries.

Alongside, with cloud-based accounting systems, companies and firms are gaining access to their system anywhere, anytime—something that is boding well for teams that have shifted to a complete remote work setup since the onset of the COVID-19 pandemic. It is enabling accounts teams to capture data, track inventory, sales, and analyze expenses on the go.

However, one of the greatest trends in the accounting domain to be ever seen is the widespread adoption of blockchain technology. It is vastly helping accountants with record keeping, as records saved in each block on the chain cannot be forged or tampered with. On top of that, each transaction can be verified by multiple different participants on the blockchain. This technology is also super secure. Multiple verifications keep things in order, and each transaction is also recorded with a unique and unchangeable cryptographic signature called a hash.

Hence, to say that the accounting realm is at the cutting edge of a new evolution might be an understatement. At this juncture, there are a variety of accounting solutions providers available in the market that cater to the different needs of enterprises. To help them choose a company that best fits their requirement, CFO Tech Outlook has compiled a list of the top 10 accounting solutions providers. The enlisted companies are the frontrunners in the market that provide a wide span of features. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs and CXOs.

We present to you CFO Tech Outlook’s “Top 10 Accounting Solutions Providers – 2022.”

    Top Accounting Solution Companies

  • e•silentpartner from the Médi Group effectively addresses these issues by offering a value-added and cost-effective solution. Using the platform, clients can get all the information pertaining to any specific project, its budget, completion status, processes that can be improved, and the overall profitability and areas of improvement. It also provides collaboration and transparency among teams.e•silentpartner also offers flexible billing structures like advanced billing, estimate billing, or actual billing, along with easy-to-use multi-tier or client negotiated rate structures. e•silentpartner also supports projected revenue recognition based on IFRS-15 and ASC-606.

    esilentpartner.com

  • Lockstep helps businesses create a connected workspace for their accounting team and supplements it with AR/AP automation. The company’s robust Lockstep platform leverages its built-in API to connect the accounting systems of a company to their customers’ and vendors’ accounting systems over the cloud or through on-premise integrations, creating a unified, connected accounting data network that facilitates a free flow of data between the systems. And when it comes to cross-business data sharing, Lockstep ensures that all the business-critical data is safe and secure. In fact, all exchange of transactions across the ‘connected accounting’ network is overseen by Lockstep’s certified technology and staff, which ensures data integrity and accuracy.

    lockstep.io

  • MarginDriver is a user-designed suite of multi-channel ecommerce reporting and analytics tools that provides meaningful data on margins and profitability while efficiently delivering the results to popular accounting software

    www.margindriver.com

  • Provides open source accounting, CRM, and e-commerce platform empowerment that includes real-time big data and AI leading the way

    www.occupier.com

  • Founded in 2008 as a back-office accounting service provider, PABS has today emerged as a leader in outsourced accounting, tax, and audit services for accounting firms and SMBs. The ISO 27001 and ISO 9001 certified company utilizes secure cloud-based technology to create streamlined systems that give businesses peace of mind and real-time access to their numbers. As a part of the accounting solution ecosystem, PABS has rolled out two tools currently—PathQuest BI (Business Intelligence) and PathQuest AP (Accounts Payable). The company has implemented these tools for existing accounting customers and is also observing a tremendous amount of response and acceptance from prospects across the board.

    www.pacificabs.com

  • Leveraging its partnership with SAP Concur—the famous SaaS company providing travel and expense management services to businesses—Pivot Payables has developed a suite of ancillary digital tools that aims to enhance the innovative capabilities of Concur products in favor of connected accounting processes. With the company’s digital solutions, businesses can easily connect every touchpoint of their accounting processes and gain a more streamlined and centralized view of organizational accounting processes across different departments and individuals. To make this happen, Pivot Payables offers two solution suites, PivotNexus and PivotPrime. While PivotNexus is an integration platform as a service (IPaaS) offering to connect the SAP Concur product suite with different ERP and accounting systems, PivotPrime is a full circle project expense management solution. Combining these two solutions, a business can automate many of its accounting tasks and speed up the reconciliation processes.

    pivotpayables.com

  • Tallyfor automates the tax filing process, reducing the time to file a tax return from 3 hours to 10 minutes. Tallyfor integrates with all accounting software used to create the trial balance and efficiently produce the data for accurate tax form.

    tallyfor.com

  • Offers relational architected product to automate the percentage of completion method of accounting, create an automated audit trail, and provide a dynamic setup

    timesuite.com

  • Gravity Software

    Gravity Software

    Gravity Software provides a real-time, 360-degree view into financials and operations with just one database to manage

  • Intuit

    Intuit

    Intuit offers business and financial management solutions for SMBs, financial institutions, consumers, and accounting professionals

  • Open Source Integrators

    Open Source Integrators

    iQ or creates meaningful connections by employing people with heart and technology with purpose