a accounting information system (AIS) is a structure that a company uses to collect, store, manage, process, retrieve and report its financial data so that it can be used by accountants, consultants, business analysts, managers, CFOs (CFO), auditors, regulators and tax agencies.
Specially trained accountants work extensively with AIS to ensure the highest level of accuracy in a company’s financial transactions and record keeping, as well as to make financial data easily accessible to those who legitimately need to access it. , while keeping the data intact and secure.
The accounting software market was valued at USD 12.01 billion in 2021 and is expected to reach USD 19.59 billion by 2027, at a CAGR of + 8% over the forecast period 2021-2027.
Key points to remember
- An accounting information system (AIS) is used by businesses to collect, store, manage, process, retrieve and report financial data.
- AIS can be used by accountants, consultants, business analysts, managers, CFOs, auditors and regulators.
- An AIS helps the different departments of a company to work together.
- Efficient AIS uses hardware and software to efficiently store and retrieve data.
- The internal and external controls of an AIS are essential to protect a company’s sensitive data.
Some important market players are Intuit, Sage, SAP, Oracle (NetSuite), Microsoft, Infor, Epicor, Workday, Unit4, Xero, Yonyou, Kingdee, Acclivity, FreshBooks, Intacct, Assit cornerstone, Aplicor, Red wing, Tally Solutions Pvt . Ltd.
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Information technology infrastructure is just a fancy name for the hardware used to run the accounting information system. Most of those hardware items that a business would need anyway and can include the following:
- Mobile devices
- Surge protectors
- Storage media
- Emergency power
Besides cost, factors to consider when choosing hardware include speed, storage capacity, and the ability to expand and upgrade.
Perhaps more importantly, the hardware selected for an AIS must be compatible with the intended software. Ideally, this would not only be compatible, but optimal – a clunky system will be much less useful than a fast system. One-way businesses can easily meet hardware and software compatibility requirements by purchasing a turnkey system that includes both the hardware and software the business needs. Buying a turnkey system means, in theory, that the company will get the optimal combination of hardware and software for its AIS.
A good AIS should also include a plan for the maintenance, servicing, replacement and upgrading of hardware system components, as well as a plan for the disposal of broken and obsolete hardware, so that sensitive data are completely destroyed.
Segmentation of the accounting information system market
- Integrated accounting software
- Online Solutions Accounting Software
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- North America (United States, Canada, Mexico)
- Europe (Germany, France, Italy, Spain, United Kingdom, Nordic countries, Belgium, Russia, rest of Europe)
- Asia-Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, rest of Asia-Pacific)
- Latin America, Middle East and Africa (Brazil, Nigeria, Argentina, South Africa, GCC countries)
Chapter 1: Overview of Global Accounting Information System Market
Chapter 2: Market Data Analysis
Chapter 3: Technical data analysis
Chapter 4: Government policy and news
Chapter 5: Manufacturing process of Global Accounting Information System Market
and cost structure
Chapter 6: Productions Supply Sales Demand Market Status and Forecast
Chapter 7: Major Manufacturers
Chapter 8: Upstream and Downstream Industry Analysis
Chapter 9: Marketing Strategy
Chapter 10: Development Trend of Accounting Information Systems Market 2021-2027
Chapter 11: Feasibility analysis of a new investment project
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