Legislative pressures are driving users to
upgrade and enhance their financial and
accounting systems more frequently.
A survey by PMP Research on behalf of
procurement website
Evaluationcentre.com
found that half of the companies polled have replaced or
significantly updated their financial and accounting systems
over the last couple of years.
The survey found that 28% of firms had updated their financial
systems within the past six months, 9% within the past year, and
12% over a one to two-year timeframe.
The main reason for doing so was the need to respond to changes
in business processes and procedures, which was cited as a reason
by 46% of respondents.
There have been a number of recent government measures, such as
those to combat
VAT “carousel fraud”, which have had a
substantial impact on how some companies operate.
Having to upgrade systems to cope with new working practices was
viewed as a much more pressing concern than more traditional
drivers, such as software obsolescence (17%), the need to fix bugs
in the system
(12%) or the desire to keep up with the competition (2%).
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