Best Accounting Software in India in 2020 - Latest Quadrant Ranking Released by 360Quadrants

Published on 20 Nov 2020

Accounting Software is a type of computing solution that allows accountants and auditors to easily and efficiently monitor accounts and handle an institution's accounting functions. In the past couple of years, accounting software usage in India has been increasing at a high rate owing to an increased understanding of the advantages of accounting software and the rising costs of accounts security.

Due to the growing convergence of accounting software with multiple web applications, such as e-commerce and e-banking, combined with the evolving cloud computing industry, growing demand for insights, and the rising need for robust accounting software features, growth in the Indian accounting software market is expected.

Recently, several vendors have been listed and released by 360Quadrants, providing the Best Accounting Software in India to help companies make successful investment decisions. These quadrants are developed after an in-depth evaluation of the vendors that offer a broad variety of capabilities. In the Accounting Software domain, these quadrants are updated every quarter and include better analysis of the technological knowledge and performance of the vendors' technology.

360Quadrants carries out a detailed SWOT evaluation and analyses the vendors chosen for placement accurately. This evaluation allows businesses to gain insight into new market prospects and trends in order to provide the necessary choices for growth and economic progression. 360Quadrants provides a comprehensive list of active market groups that simplify the process of supplier evaluation.

Quadrant Categorization for Accounting Software in India

360Quadrants evaluates around 60 vendors in the Accounting Software space, out of which 30 vendors are categorized as Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies and placed in the quadrant.

Tally.ERP 9, Busy Accounting Software, Marg Accounting Software, Zoho Books, Quickbooks, Saral Accounting Software, ProfitBooks, Vyapar, and myBooks have been identified as visionary leaders in Accounting Software in India.

Fresh Books, Netsuite, Logic ERP, Fraxinus Books, Horizon ERP, HDPOS smart, and Giddh have been identified as innovators in Accounting Software in India.

Book Keeper, AlignBooks, CraveInvoice, PACT Accounting, Billing 360, FreeAgent, and ANV Retail Software have been recognized as dynamic differentiators in Accounting Software in India.

Reach Accountant, REALBOOKS, MProfit, Wave Accounting, Integra Trade Plus, SlickAccount, and ZipBooks have been identified as emerging companies in Accounting Software in India.


360Quadrants Assessment Method

Usually, Top Accounting Software are recognized by researchers and industry experts to be listed on quadrants after a considerable amount of analysis has been carried out. The vendor's analysis is conducted based on two main criteria, product reliability and market growth. Product reliability includes factors such as the selection of system features, technologies provided, models of deployment, and pricing methods implemented, while market growth includes factors such as global scope, served buyers, delivery systems, and marketing strategy for product placement.

The shortlisted vendors are then analyzed on more than 95 different criteria and parameters, including features such as Centralized Inventory Database, Inventory Pricing and Costing, Inventory Reporting, Inventory Tracking/Ordering, Lean Management, Multi-Entity/Consolidation, Proposal Management, Reconciliations, Revenue Optimization, and Time Tracking, by experts and researchers. These considerations and parameters are allocated weights, and a score for a given product is produced. This score would decide the placement of the supplier in the 360Quadrant to be located respectively.


About 360Quadrants

360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spends and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insight using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and start-ups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.

360Quadrants will also be launching quadrants in fields such as Mining Software, Exam Software, and Dental Software.

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