Is accounting software market over saturated?
So i'm thinking about building accounting software. Do you think there's room for new products in this space or everything is owned by quickbooks?
I know accounting is very broad and complex, so there's probably opportunities to carve yourself a niche. But it seems like everything for SMBs is fairly well established
There are 30 million USA customers. Most Accounting products cannot deliver a product uneducated users can use. Hence a huge opportunity. Bench.co has 10,000 customers. GAAP was founded in 1936, and SQL in 1969? No wonder programmers can't solve the problem.
This is actually an interesting point. Never heard of Bench before, but just glossed over their page and it seems that they are selling accounting services (with their own accountants) rather than solely a software tool. Reminds me of legalzoom a bit.
I always envisioned a tool that someone with experience can use. But this pretty much reduces the market to CPAs, or SMBs who already have accounting departments and those probably would stick to something more established/popular.
Another thought crossed my mind is that maybe you want offer customizable software. E.g. setup all workflows and what not that are specific to client needs and had it off. But this seems hard to scale.
Sorry, you are way off the mark .. Good luck