Looking for a New Accounting Solution? See How 9 Leading Products Compare

August 27th, 2019

Whether you’re balancing the books, putting together a financial report, or creating invoices to send to clients, doing any of these activities by hand can be a gigantic headache.

Though each organization has its own set of circumstances and requirements, all businesses can benefit from using an accounting solution. And there are a wide range of accounting solutions designed for specific company sizes, verticals, and use cases! However, this also makes finding the right software more complicated, especially when there are over 124 options to choose from! 

Our recent survey of 149 accounting software end-users confirms this. 1 out of 3 accounting software users found it difficult to find the right accounting solution

Evaluating different products and coming up with a shortlist can be even more frustrating for software buyers that don’t have an extensive accounting background. Freelancers, solopreneurs, and small business owners may not have the same level of hyper-specific knowledge and experience as a veteran CPA or financial manager. But they still need to know how products like QuickBooks Online, Xero, Freshbooks, and Wave Accounting differ from one another.

In order to help software buyers get a better handle on which products would fit their needs best, we’ve created a free Buyer’s Guide to Accounting Software. It showcases 9 leading accounting products for businesses and organizations at various growth stages. 

What’s in the Guide? 

The guide highlights 9 of the most-used Accounting products on TrustRadius, and provides buyers with an at-a-glance view of each product, including: 

  • user demographics (e.g. company size, industry)
  • most common pros and cons 
  • direct feedback from product reviewers
  • best-fit-for scenarios based on reviewer feedback

Wondering which products made it into the guide? Here’s the list of the Accounting industry’s top solutions featured in the guide: 

The Accounting buyer’s guide also includes a set of comparison charts with product-level information, like star rating, number of reviews, reviewer company size distribution, feature ratings, and the top 3 comparisons for each product. 

Download the guide to find more metrics to compare across products and find the software that fits your company best! 

Curious about what fellow accounting professionals and small business owners really think of their accounting solution? We packed the guide full of insights directly from software end-users. You’ll learn the top 5 accounting ‘must-haves,’ as well as the biggest hurdles buyers faced when evaluating and selecting a new accounting solution. 

What to expect from your accounting software 

30% of buyers say that finding the right accounting product is still more difficult than it should be. So we asked our community of accountants and business owners 5 essential questions about their experience buying and using accounting software. While these questions don’t cover all aspects of user satisfaction with accounting software, they aim to provide you with a foundational level of knowledge to use as you continue your product evaluation and selection: 

  1. Does the product deliver good value for the price? 
  2. Does the product live up to sales and marketing promises? 
  3. Are you happy with the product’s feature set? 
  4. Did implementation go as expected? 
  5. Would you buy this product again? 

Of the 149 software end-users we surveyed, a large majority are generally happy with their current accounting solution. 85% think it delivers good value for the price, and over 90% are happy with the product’s feature set and would buy it again

However, respondents were a little less satisfied in terms of how well products matched the descriptions provided by the vendor and how smoothly implementation went. 37% of respondents did not agree that the product lived up to sales and marketing promises. In addition, 26% thought implementation did not go as expected

This data makes it clear that knowing what happens after you make a purchase is critical!

Reading reviews about the implementation and integration processes other similar organizations went through and verifying vendor promises is a great way to do this. Asking vendors tough questions about what you can expect in terms of post-sales support, implementation, and integration with third-party software will also help prepare you to start using your new accounting solution as quickly as possible. 

Where to find more accounting resources

Looking for more resources to use in your product research? Our Buyer’s Guide to Accounting Software is a great place to find more information about specific products, compare products one-on-one, and hear what fellow accounting professionals and business owners have to say about each of these products. 

However, there are a lot of other resources available as well. (And our research shows the average buyer consults 5.2 different sources of information during their software purchase process!)

Reading through product reviews helps provide a more detailed view of the end-user experience with a specific product. Reviews can also help you find first-hand experiences and advice from accounting professionals who work in the same industry, or similar company size. You can find more products and product reviews at TrustRadius.com

Talking with vendors about their products and services can be another great source of product-specific information. And if you consult reviews first, you’ll be ready to read between the lines and ask the hard questions up front. 

Got a tip for your peers based on your own experience with accounting software, or want to write a review of solution you helped purchase? We’d love to hear from you.