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More and more accountants are embracing SaaS – Will you miss out?

The Software as a Service (SaaS) industry has increased in size by around 500 per cent in the last seven years.

The average number of SaaS programs used by businesses has increased to around 80 different applications.

To put this in perspective, in 2015 there were only eight apps per business.

By 2025, it is projected that 85 per cent of software that organisations use will be SaaS-based.

As MyWorkpapers Director, Rich Neal, said: “SaaS has become the go-to software solution for accountants and businesses. We have seen it grow at an incredible rate in the last few years.

“Accountants, though slightly slower to embrace the technology, are now rapidly implementing SaaS strategies into their business models.

“Those that have embraced SaaS are seeing better returns, smoother operations and an overall improvement in their working practices.”

These trends are clear – SaaS is on the rise across the world and accountants need to join in.

What is SaaS?

SaaS is a software distribution model where apps are hosted by a service provider and made available to customers over the internet.

In effect, you pay for access to the software, typically on a subscription basis, without needing to install or maintain the software themselves.

Why are so many accountants using SaaS?

Accountants are increasingly opting for SaaS due to its cost efficiency, eliminating hefty initial investments and reducing maintenance expenses.

The ease of use, quick deployment, and user-friendly nature of SaaS are also a factor.

SaaS offers your firm scalability and flexibility, which supports business growth without significant infrastructure changes.

It ensures you always have the latest features through automatic updates, while its accessibility boosts remote work and collaboration.

SaaS allows accountants to focus on their core activities by outsourcing IT management and benefits from advanced security measures and compliance standards, often surpassing what you can achieve on your own.

Should you join the SaaS revolution?

If you are yet to join the SaaS revolution, you might want to consider MyWorkpapers as a good place to start.

We provide digital working papers for accountants, auditors, and advisers which simplify the way you work and collaborate within your firm.

By employing MyWorkpapers as an integrated SaaS part of your overall tech stack, you can increase the visibility of your team’s workflow and ensure your processes are streamlined.

We also provide checklists, a client portal where you can freely exchange documents and information and a client manager that allows you to validate the processing done by clients, compare data and enter adjustments.

In essence, we make the lives of accountants easier through our SaaS technology.

Learn more by trying our software for free.

Try for Free – Power up your accounting practice with our proven, paperless working paper solution.

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