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A recent study by Thomson Reuters highlighted that 63% of finance teams had failed to update or upgrade their on-premise accounting systems for 5 years or more.
They key reasons for this?
Many organisations, then, are making do with technology 5+ years old to run their organisations. How many people do you know with a 5 year old mobile phone? Exactly!
Herein lies one of the fundamental differences between on-premise and cloud systems. Had these finance teams been using cloud accounting systems they would automatically have been using the most up to date version of the software by default. No upgrades required.
At Xledger we update our system 4 times a year. This happens in the background, with no impact on our customers. With each update we provide information and training on new and improved functionality. The result, Xledger remains at the forefront of cloud accounting technology and is fully future proof.