Key insights – 2018 Good Bad Ugly Technology

The 2018 Good Bad Ugly Technology poll provided useful information highlighting how Australian accounting firms are using Technology within their firm. The key insights include:

  1.  The number one technology challenge for the 250 participating firms in the latest GBU technology poll is to “fully utilise existing systems”.
  2. With many firms investing heavily in new technology in the last 2-3 years, this result calls into question whether Australian firms are really seeing an ROI from this “investment”.
  3. Many firms also appear frustrated at the lack of sophisticated integration between systems, which drastically limits the efficiencies and ROI these technology investments have the potential to yield.
  4. The trend away from APS continues, with merely 11% of firms still hanging on, while both MYOB and Xero have increased their market share.
  5. One in four firms have implemented a new practice management system within the past 3 years, with 75% choosing Xero, and 25% being sole practitioners. Still, there remains a large number of firms (42%) who have not changed practice management systems in the past 10 years.
  6. 1 in 4 firms claim they are looking to move providers within the next 12 months (a similar statistic to previous years). Once again, a larger majority have identified Xero as their provider of choice.
  7. A dramatic 10% shift from on-premise server to SaaS in 2016, the majority of firms (57%) who currently have a server (on-premise or hosted), claim to have no intention of moving to a SaaS infrastructure.
  8. 44% of Xero practice management firms exclusively refer to Xero client accounting. Compare this with MYOB practice management firms, of which only 20% exclusively refer MYOB client accounting solutions.
  9. SMSF: BGL has maintained a majority at 52% of the market share, however, only 12% of firms remain on the BGL desktop product.
  10. A small majority (57%) of accounting firms do not support the transaction but believe combining the two firms’ R&D efforts will outweigh vendor concentration risks. Yet, a larger majority (72%) of participants predict it will have no impact at all on their firm.

*Report based on 250 participating firms

 Click Here to download your copy of the 2018 Technology Report