 
Examples of Software Tailored to Vertical Markets
In-depth tools that help business owners meet operational requirements |
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Working with vertical-specific accounting software--software that goes beyond simple checkbooks accounting and begins to focus on the internal operational requirements of the business--introduces opportunities to add more value to the professional engagement. The accounting professional can be an important factor in determining when the business needs more in-depth tools, and can further impact the decision of which tools to implement.
Examples of such tools include Appgen’s MyBooks Professional, which is highly customizable for the purposes of specific operations. Appgen Custom Suite is remarkably easy to modify for vertical markets (see examples).
QuickBooks’s vertical applications include Premier Nonprofit, Premier Contractor, Premier Retail, Wholesale, Point-of-Sale and many more. ComputerEase is another app for the construction industry and Yardi is tailored for property management.
Most of these apps can be hosted at e-Accounting's data center which provides anytime-anywhere access, virus protection, and automatic data backup for the professional and his or her client.
Hosted applications
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10* Reasons
to Specialize in a Vertical Market
Benefits
of specialization
and tips to get there |
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Make your firm’s mark by developing specialized services to specific business types. Here are 10* reasons why this is a good idea and some tips on how to accomplish it.
*OK, 10 sounds better but we couldn’t think of 10,
so here’s seven:
1. It will set you apart from the competition Without a distinctive product, service, or delivery method most businesses can never stand out enough to attract clients. Developing solutions that set you apart from the competition and meet strong needs in the market is absolutely necessary to long-term success. Specializing creates additional value to deliver to clients to achieve this.
2. You may already have a vertical-market focus
Practices who work regularly with a particular type of business may already have a vertical market focus without even realizing it. You naturally focus on clients you’re used to working with. Now all you need to do is dig deeper to find and meet their needs and become their accounting or business specialist.
3. It helps you develop the expertise your clients need and increase profitability
You don't have to be an expert before pursuing a specialization strategy. Firms that work regularly with certain types of clients will naturally develop expertise in that vertical over time and gain ability to add value to clients through advising, consulting, and providing industry-critical tools. These have potential to increase your firm’s profitability as you fine tune your skill set in the specialty.
4. The tools of the Internet are a natural fit for specialization
Websites offer an incredible opportunity to talk to clients and prospective clients without the cost of printing and mailing. They are the great equalizer for smaller firms. By going beyond the standard brochure form of website, and developing an informative site that delves into the lives and problems of business owners, one can further stand out. Offering free information that is relevant to your specialized market can retain existing clients and attract new ones. A regularly distributed e-newsletter from your firm can accomplish the same thing.
See the remaining three reasons here
Results of our Technology Survey
Thank you to everyone who filled out our survey. |
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1. Where do you go most to learn about computer technology that pertains to your business?
| The Internet - 49% |
IT publications – 1.5% |
| Trade publications – 35% |
Hardware vendor – 1.5% |
| Personal Friend – 7% |
Computer consultant – 1.5% |
| My company’s IT dept. – 3% |
CPA technology group – 1.5% |
2. What types of technology questions do you need answers for the most?
| Accounting software – 44% |
Tech support for hardware/software – 2% |
| How to work online – 29% |
System stability – 2% |
| Maintaining a network – 18% |
Sofware development – 2% |
| Creating a network – 3% |
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See full survey results here |
