Learn the Cost of Your Accounting Software
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How Much Does Accounting Software Cost?
Based on ScienceSoft's experience, the cost of developing accounting software of average complexity ranges from $200,000 to $400,000, while engineering a large-scale enterprise accounting system may require a budget of $400,000–$700,000+.
Major factors impacting the final price of a custom accounting solution
- The scope and complexity of solution features, including those powered by advanced technology (e.g., AI-supported reconciliation, automated invoice processing using OCR and RPA).
- The number and complexity of integrations with other software.
- Performance, availability, security, and compliance requirements.
- Requirements for role-specific UX/UI and app accessibility.
- The volume and complexity of data that needs to be migrated from the previously used accounting tools.
- Technology choices (fees for third-party cloud services, APIs, and libraries affect accounting software development pricing and solution operating costs).
- The chosen project sourcing model (all in-house, partial outsourcing, or full outsourcing).
How to Cut Accounting Software Development Costs
Here are some of ScienceSoft’s tried-and-true practices that help us optimize the accounting software cost without compromising quality:
- Relying on modular architectures (SOA, microservices) to reuse logic across multiple features and enable parallel development of accounting modules.
- Leveraging cloud infrastructure (IaaS, PaaS) to reduce upfront hardware expenses, boost scalability, and reduce long-term maintenance costs.
- Building basic accounting apps on low-code and no-code platforms instead of creating them from scratch to cut engineering efforts by more than 70%.
- Employing ready-made logic and UI components, APIs, deployment scripts, etc., to reduce the share of costly custom coding.
- Applying mature Agile methodologies and PM practices to speed up releases and prevent scope creep.
- Implementing automated testing frameworks and CI/CD pipelines to catch issues early, accelerate release cycles, and reduce manual QA efforts.
Accounting Software and Technology Market Stats
- 67% of accountants prefer cloud accounting tools and believe that cloud technology makes their businesses more successful.
- 35% of accounting leaders say their firms are planning to invest in AI-powered automation solutions in the next two years.
- The global market for accounting software is projected to reach $32.6 billion by 2032, growing at a CAGR of 8.02%.