More than one third of businesses are losing time because they haven’t implemented an accounting app. According to our GetData study, many companies are saving more than three hours per week by using an application to manage their invoices. But 36.6% of the respondents admitted they don’t use accounting software at all, meaning they could be losing up-to one working day per week by not automating their invoicing processes.
Key research findings:
- 37 percent of SMBs save more than three hours per week by using an accounting app
- More than one third don’t use an accounting app at all, potentially losing them nearly one working day per week
More details about the research:
Answers to the question: “How much time per week do you save by using accounting software to manage your invoices as opposed to other methods?”
#1: I don’t use accounting software (36.6%)
#2: Less than two hours (26.4%)
#3: Three hours (10%)
#4: Four hours (9.4%)
#5: Seven hours or more (8.6%)
#6: Five hours (6.6%)
#7: Six hours (2.4%)
Demographics: 500 US-based respondents from a panel of small businesses owners. Respondents are aged between 25 and 54 and have an average inferred annual income of $50k – $150k.
This research was conducted to better understand how much time could be saved by using an accounting app to manage invoices.
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