What’s going on in accounting? Here are five relevant pieces on financial process-improvement software, for better-informed decisions.
Data breach within a European accounting firm
Cloud-based software from Wolters Kluwer, an accounting and financial process improvement firm, was taken offline May 9, after a supposed malware attacks breached its system. With the company’s $4.8 billion brand at stake, the market still lacks clarity on the attack’s long-term impact.
Market sizing estimates for cloud-based accounting
It’s a time of rapid expansion for the cloud-based accounting market. According to MarketWatch, a compound annual growth rate of more than 7.2% will lead to a $4 billion pie by 2024. Currently, the market’s valuation is $2.6 billion.
Xero to enable integration with Ekos
Community-focused tech company Ekos announced that it will integrate directly with Xero. If you’re one of the 1,500 craft beverage producers that partners with Ekos, check out this read from Brewbound.
2 trends to watch this year, in the aftermath of Wayfair
eCommerce continues to be a burden for tax professionals. Coupled with constant updates, missing sales tax estimates, and new avenues for globalization, accountants across different industries should be ready.
The rise of multidealer platforms
Checking in on the fintech space, it’s clear that multidealer platforms are getting more popular, within both traditional asset management firms (e.g., Fidelity) and startup firms. Difficulties still exist with over-the-counter trading.