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The biggest barrier to adoption that all new entrants to this market must overcome is finding finance and accounting professionals willing to use their product.
by barryrandall 3y ago
The biggest barrier to adoption that all new entrants to this market must overcome is finding finance and accounting professionals willing to use their product. The second is finding banks, auditors, and investors willing to use statements from an accounting package they've never heard of.
- nonrandomstring 3y agoThanks. What do you mean by "finding banks, auditors, and investors willing to use statements from an accounting package they've never heard of." ? Is that a file compatibility issue. Are there not standard file formats for exchange of data in the financial industry? Don't people, as a last resort maybe, just send a csv, or print the ledgers out on paper?
- abdullahkhalids 3y agoThere are a few different standards. The problem with the generic csv is that headers still need to be specified. Otherwise, the person doing the importing has to specify/confirm what each column means.
- dboreham 3y agoThe standard file format is "Quick books backup".