Finance and accounting technology became the No. 1 software budgeting priority for small and mid-sized businesses (SMBs), according to a survey conducted last year by Capterra. Almost 54 percent of respondents were budgeting to invest in accounting tools in the next 12 to 24 months, with those in the retail industry specifically forecasting to spend between US$30,000 and $40,000. Given the ultra-competitive market in which SMBs operate, and the remarkably intricate compliance landscape they have to navigate, these findings are not surprising.
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