Developing SaaS Accounting Solutions Using Open-Source Technologies

Posted By : Anirudh Bhardwaj | July 5, 2021

SaaS Accounting Solutions

Every organization, whether small or large, requires accounting software to efficiently manage its financial processes including payroll, and bookkeeping tasks. As a small business grows and expands, it becomes more dependent on software tools for managing day-to-day operations. That said, the accounting/financial management software definitely tops the list when it comes to quintessential business tools for workforce management. Although there are several vendors that offer off-the-shelf accounting software, most enterprises prefer to develop their own applications from scratch. 

When it comes to custom software development for financial management, we have two options i.e developing an on-premise application or SaaS development. A majority of organizations, today, prefer the SaaS architecture due to its apparent benefits in the form of increased flexibility, better accessibility, scalability, and interoperability. 

Here, we shall explore the two most popular open-source software platforms for developing SaaS accounting solutions to redress diverse business needs. 

 

Also, Read Technology Recommendations For SaaS Software Development

 

Open-Source Platforms For SaaS Accounting Solutions

A SaaS-based accounting module enables organizations to effectively handle a host of diverse financial processes including billing/invoicing, payroll, bookkeeping, and distribution management. Furthermore, it helps in controlling capital expenditures, facilitates intelligent business decisions, and aids in explore new financial opportunities. It further helps enterprises to optimize their business strategies and make important financial decisions more efficiently. Let’s explore the two most effective accounting software platforms for SaaS application development

 

Acumatica

Acumatica is a cross-platform cloud and web-based ERP software platform that provides world-class finance and accounting solutions tailored to the business-specific needs of its customers. It offers scalable SaaS accounting solutions that are well-suited for small to mid-sized businesses and are conducive to improving overall business productivity.   

 

Key Features of Acumatica

Given below are the key features of Acumatica as a SaaS accounting solution for financial accounting and bookkeeping.

 

Target Marketing

Acumatica has an impressive brand reputation all over the world when it comes to Targeted Marketing. It also offers a wide range of technological options for integration and customization.

 

Software Flexibility

It fosters and empowers various changes that occur in business processes and enables software extensibility as well as customization.

 

Personalized Dashboards

Every user is given access to a personalized dashboard that showcases all the necessary information that might be required. The company can easily add new fields or remove the existing ones. The sales team can also reap a great deal of benefits as they can view and analyze different types of charts, graphs, and files related to their customers and their sales processes. 

 

Instant Updates

Acumatica is an integrated cloud and web-based ERP software which means it keeps rolling out new system updates. Once you update your Acumatica ERP suite, it also upgrades all the integrated systems as well.

 

How We Help You With Acumatica?

We, at Oodles ERP, provide end-to-end SaaS application development services for financial accounting modules using Acumatica’s ERP software suite. Our in-house team of developers is skilled at using Acumatica to build custom SaaS accounting solutions for the varying business needs of our customers. We also provide custom integration services using QuickBooks to enhance the features and capabilities of your existing business modules.

 

Also, read Accounting Software Solutions For Effective Financial Management

 

QuickBooks

Quickbooks is an online accounting software suite developed and maintained by Intuit Inc. It gives you access to a variety of built-in tools and exclusive features for managing your clients more efficiently. Quickbooks products are mainly targeted at small to medium-sized businesses and offer a plethora of SaaS accounting solutions as well as cloud-based versions for accepting business payments, managing/paying bills, and payroll functions, etc.  

 

Quickbooks Features

Let’s now explore the key features and benefits of Intuit QuickBooks for accounting and financial management.

 

Cloud Accounting

Manage your business operations seamlessly with the powerful cloud accounting module from Quickbooks. Access your Quickbooks account anytime, anywhere on your laptop, mobile, or tablet, stay organized and up-to-date.  

 

Expense Tracking

Keep track of all your expenditure and manage your expenses in one place. You can also keep all the receipts safe with the Quickbooks Online Mobile App.    

 

Invoicing

The Financial Accounting module in Quickbooks automatically generates receipts and invoices and gives you highly accurate estimates about the impending operations. 

 

Accounting Reports & Cash Flow Management

Keep checking your business reports and get an insight into how your business is performing with custom reports features and dashboard. You can also schedule invoices and recurring payments to save time.

 

You may also be interested in reading Cloud ERP Development To Enhance Business Process Efficiency

 

How We Help You With QuickBooks

At Oodles ERP, we provide end-to-end software development and integration solutions for streamlining the finance and accounts-related operations of an enterprise. With an in-house team of developers, we strive to deliver top-of-the-line ERP solutions at cost-effective rates. We have a high competency in developing standalone business-specific applications using the Quickbooks software suite. Our team provides complete technical assistance for seamless development and integration of Quickbooks in your business applications. 

 

Conclusion

Both Acumatica and QuickBooks offer promising solutions for accounting and financial management. Acumatica is relatively new (launched in 2008) and it has a fair share of customers in the US and other parts of the world. QuickBooks, on the other hand, is a market leader in financial accounting and bookkeeping services with several fortune 500 companies amongst its customers. More importantly, both platforms offer open-source solutions, thus being more reasonable than several high-end products. Due to this reason, they are best suited for startups and small-to-medium-sized businesses. 

About Author

Anirudh Bhardwaj

He is a technology enthusiast with 3+ years of experience in producing insightful content on projects related to next-gen technologies like AI, Blockchain, ERP, OTT, Cloud, Big Data, AR/VR, IoT, and more.


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