The Crisis of Outdated Systems: Moving Away from Legacy Accounting Software

Once a stalwart of the accounting industry, legacy systems today struggle to meet the dynamic needs of the marketplace. Their inherent limitation in integration, scalability, and data analytics capabilities, which play a pivotal role for any firm, further makes legacy accounting software a big no for the industry. 

In fact, according to a report by StreamSets, 51% of data leaders opine that getting data out of legacy systems is one of the biggest obstacles for them in the industry. 

Problems like these are thus propelling firms to increasingly move away from outdated systems and embrace more engaging and efficient tools that can help them stay abreast of the competitive accounting realm. 

This blog thus explores the urgency of moving away from the legacy system towards more robust, agile, and future-proof accounting solutions for businesses worldwide.

Reasons to Move Away from Legacy Accounting Software

There are several reasons why accounting firms are moving and should move away from legacy accounting software: