The Solution Array: Understanding the Finance Software Market

When searching for your next Accounting and Finance software, understanding what each vendor offers can be a complex and confusing task, especially with regards to how they align with your own organisational requirements.

GrowCFO, the online community for leading finance professionals to share knowledge, network with likeminded people and discover personal development opportunities, began 2020 with a survey of their members.

The survey asked a variety of questions, including:

  • How long did it take to implement your finance system?
  • How much did it cost and did you need third party support?
  • ​Which companies would you recommend your finance system to, based upon their size and complexity?

The Solution Array below demonstrates the landscape of the current financial software market as according to the results and feedback of the survey. This Solution Array assesses the performance and capability of leading vendors across four distinct segments, relevant to an organisation’s size, scale and agility compared with the cost of acquisition and ownership.

These four segments are:

  • Established SME – accounting systems suited to the SME Market
  • Legacy ERP – larger, more complex, on-premise software evolved from older products
  • Traditional ERP – larger systems facilitated by the cloud that dominate the Enterprise space
  • Postmodern ERP – the new breed of “Designed for Cloud” solutions that are challenging the traditional vendors across all markets

Full results of the survey can be found within the member area of the GrowCFO community.

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