Industry Perception
Many of the smaller companies that once provided reliable trial balance software have been purchased by large, publicly traded corporations. Those corporations are, for the most part, only concerned about their bottom line. What better way is there to eliminate market competition and drive up profits than to swallow small competitors? Essentially, once the competitors were purchased and absorbed into the larger corporations, their product lines were discontinued in favor of much larger and more profitable engagement level software.
It is much more profitable for the big companies to bundle a software package with lots of functions and/or bells and whistles. They can sell this "engagement solution" software at a much higher price by claiming that it is a totally inclusive package that can do it all. For a huge segment of accountants, tax preparers, and CPAs that don’t need all the bells and whistles, it is complete and total overkill. Game over.
While "engagement solution" type software has gained popularity in the last several years, there is still a huge market of accountants, tax preparers, and CPAs that only need trial balance software that works efficiently and as designed without all of the overkill that engagement type software provides.
The big software companies claim that the trend has changed from old fashioned trial balance software to "engagement solution" type software. That is simply not true!
The simple and reliable trial balance software that professional accountants, tax preparers, and CPAs had relied upon for years was all of a sudden no longer available. In addition, most of the old trial balance software we all have is no longer supported and usually will not install on new operating systems.
The big companies that now drive the market have not listened to their customers. Not all accountants and CPAs out there do audits, reviews, or compilations, and therefore don’t want or need a big cumbersome package of engagement level accounting and audit software.
What about those practitioners out there that are mostly or strictly tax preparers? What about that market segment? Think about it. The environment of force feeding engagement level software to the market place combined with small accounting software companies leaving the market was a recipe for disaster for small to mid-size accounting firms and tax practitioners. Then fast forward several years.
Now accountants, tax preparers, and CPAs are in a quandry and screaming for an alternative to enagagement level software, something that is much more budget friendly without all the unneeded bells and whistles.
This is why we developed Trial Balance Pro.