Kingston Smith names Paprika as front runner in 2017 Accounting Software Survey
Once again, Paprika is named as the leading supplier in the latest Kingston Smith Accounting Software Survey. With 25% of respondents using Paprika, 16% Sage Line 50 and 10% Xero, we’re the only fully integrated solution named in this survey. Satisfaction was also rated higher than that of Sage and other platforms!
Our direct competitors, other integrated job costing and accounting systems, weren’t mentioned in this survey. Big names we would usually come up against are now finding themselves grouped in with “other platforms”. For us, this highlights the ever increasing number of new entrants in the market. The emerging “plug-ins”, “add-ons” and “bolt-on” trend is muddying the waters as agencies navigate the vast selection of accounting, job costing and project management software available to them. Whilst there’s always a crossover of functionality between these sorts of systems, it’s interesting to see the market fragmenting as agencies silo their data into separate systems.
That being said, Paprika are incredibly proud to continue to fight our corner when it comes to competing with the industry agnostic giants – Sage and Xero. Whilst specialism and integration of data are our core strengths, they’re also our biggest challenge. Best in class systems are no easy feat and integrating all the job costing elements seamlessly within an accounting system presents our development teams with a level of complexity that our competitors at the lower end of the market simply don’t have. We believe our efforts remain focused in the right direction as the Kingston Smith survey states significant numbers of businesses identify “having an integrated job costing and finance system as the most important feature”.
On the other hand, Xero’s low upfront costs and “add-on” culture has resulted in some growth as it challenges Sage. Combining an accounting package with various add-on products is, understandably, an attractive proposition. However, the extent to which these add-ons successfully integrate is not completely clear. A constant stream of enquiries coming into Paprika, from agencies using these add-on systems, suggests the reality of working between multiple systems remains cumbersome – historically, this has always been the case and we don’t expect that to change.
The survey says “agencies with a relatively new, simple business structure are making use of more basic, straightforward, accounting packages such as Xero and lower-end Sage packages. More mature businesses are tending to use more complex variations such as Paprika”. This has been the emerging pattern for some years now. Reconciling data between separate systems is always going to be clumsy and long winded, especially if there’s rekeying of data into several entry points, data drop out and more so if there’s a significantly higher volumes of data. Providing the agency is smaller in size and/or has a relatively simple business structure, then many muddle on until the point it becomes unmanageable.
Interestingly, just half the respondents in this survey are using their software for timesheets and job costing. Here’s where a Paprika agency differs from your average agency. All of our clients use our software for job costing – it’s the main reason you choose us. What’s more, the vast majority of the Paprika community make full use of its timesheet programs too. Kingston Smith highlight that “staff resourcing and revenue forecasting were noted as important” functionality for respondents. Which explains the recent increase in interest, and uptake, of the latest resourcing tools in Paprika, such as the “Time Planner” for capacity planning, and “Strategic Time Planner” which is ideal for forecasting time over a number of months.
The research also comments on some of the emerging functionality in the Accounting Software market, notably the “cloud” movement, optical character recognition (OCR), automation and AI. Paprika i2, our hosted environment, was released 5 years ago in anticipation that cloud and software as a service (SaaS) would become the norm. With the introduction of i2 came a better looking and more intuitive Paprika. As more and more functionality gets migrated across to the new platform, we know it will only strengthen Paprika’s position in the agency market. In addition to this, several exciting projects are underway with our development teams, dare I say OCR? Watch this space.
To read the full Kingston Smith Accounting Software Survey visit their website here.