How is App Fatigue Impacting the Accounting Industry?
Recently, there has been much debate in the mobile app world of a fatigue taking over the industry. And now, that same app fatigue has filtered through to the accounting app ecosystem, with the potential for causing just as much disruption.
App fatigue is the phenomenon that occurs when there’s an influx of apps on the marketplace. This fatigue has caused accountants and business owners alike to struggle with knowing which apps, if any, to integrate into their business and financial management systems.
What is causing accounting app fatigue
The past few years have seen a gold rush of apps specifically designed to make the life of an accountant easier, and the job of a business owner significantly less stressful. But like every gold rush, and good thing, it must come to an end.
With a saturated market of app-based solutions, the choice can sometimes be overwhelming. And fear of backing the wrong horse is a large part of why app fatigue is becoming more and more of a reality.
With so many apps on the market, it’s hard to know which to trust. Some apps may just not be viable in the long term, which perpetuates the fear that clients’ data may be insecure or mishandled.
What app fatigue can do to your firm
Succumbing to app fatigue can slow your firm’s growth and cause stagnation.
This can come in the form of increasing indecision, or even fully-fledged paralysis when it comes to making important choices for you and your business.
Failing to keep up with innovation is the same as choosing to take a step backwards. After all, change is essential to growth.
It doesn’t take a rocket scientist to understand that when your firm has the right tech stack, it will be at its most efficient. When your firm starts to stagnate, your ability to provide value-add advisory services can significantly decrease.
If you can’t provide your clients with value-add services, or the right technology to monitor their business performance, then someone else will. Don’t let the fear of change overcome your fear of being left behind.
How to fight it
However, there are ways and means of counteracting the very real threat of accounting app fatigue.
By taking actionable steps towards securing a functional, and scalable tech stack you can easily and confidently overcome the tech-tiredness.
Define your needs
Identifying the apps which fulfil your functionality needs, the ones that integrate with your chosen accounting software, and ones that will scale with your clients’ business is essential.
A good place to start is on the marketplace of your accounting software where you can check the reviews. Xero and QuickBooks have both reviews and star-ratings on their respective marketplaces to make it easier or you to see the top-rated apps in each category.
First of all, make sure that the app you’re looking at integrates with your clients’ accounting software to avoid wasting valuable time looking at apps that, in the end, they won’t be able to use.
The most valuable app will be the one that integrates with multiple accounting softwares – allowing full usability for clients on different platforms.
Understanding the scalability of apps can also be a good idea before you choose to integrate them into your systems. Read reviews, or check out the blog to read case studies of businesses like your own that use the app.
Taking the time to demo the app before you integrate it into your systems can be a good way to start. If the application has training on offer, even better. Talking to someone that knows the ins and outs of a particular app will really help you to see how you can best use it. Always try before you buy.
Review review review
Once you’ve chosen the app(s) to integrate into your systems, the work doesn’t end there. In order to make the most of your current tech stack, and to ensure that you’re not missing out on better functionality with different apps, you should regularly audit your applications.
By establishing one person within the firm to take charge of your tech stack you can ensure that there will always be someone on top of updates, support queries, and new features. And continually reviewing the applications in your business can help you to refine your client offering to further meet their needs.
The benefits of putting more energy into your tech stack, and auditing your current one, can vastly outweigh your concerns.
When it comes to app fatigue, the only way out is through. There are apps out there that can make your job and your clients’ business easier to manage. You just need to find them.
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