{"id":58399,"date":"2024-07-09T10:16:36","date_gmt":"2024-07-09T10:16:36","guid":{"rendered":"https:\/\/silverfin.com\/?p=58399"},"modified":"2026-02-16T12:06:59","modified_gmt":"2026-02-16T12:06:59","slug":"best-of-breed-technology","status":"publish","type":"post","link":"https:\/\/silverfin.com\/en-gb\/resources\/best-of-breed-technology\/","title":{"rendered":"The thirst for best of breed technology is great. So, why are there no clear winners in tech firms usage?"},"content":{"rendered":"\n<p>Silverfin&#8217;s Senior Product Manager, <a href=\"https:\/\/www.linkedin.com\/in\/philhobden\/?originalSubdomain=uk\">Phil Hobden<\/a> recently wrote an article for<a href=\"https:\/\/elitebusinessmagazine.co.uk\/finance\/item\/the-thirst-for-best-of-breed-technology-is-great-so-why-are-there-no-clear-winners-in-tech-firms-usage\"> Elite Business <\/a>exploring the increasing demand for best-of-breed technology in the accounting industry and examines why no clear winners have emerged among tech firms. Phil delves into the challenges and opportunities faced by firms in adopting specialised solutions over full-suite offerings.<\/p>\n\n\n\n<p>In the article, Phil reveals that 93.5% of mid-size UK accountancies are adopting a best-of-breed approach to technology, based on research with 31 firms. Of those interviewed, Phil discovered the following: <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-most-popular-tools-for-accountants\"><strong>Most popular tools for accountants:<\/strong><\/h2>\n\n\n\n<p>\u2022 <strong>Practice management:<\/strong> Karbon is a favourite, with some firms still using compliance software or custom-built solutions.<\/p>\n\n\n\n<p>\u2022 <strong>Electronic signatures:<\/strong> Adobe (16.1%) and Docusign (22%) are widely used.<\/p>\n\n\n\n<p>\u2022 <strong>Communication:<\/strong> Teams (58%) and Slack (22%) dominate post-pandemic.<\/p>\n\n\n\n<p>\u2022 <strong>Industry insights:<\/strong> Fathom and Syft are popular for reporting and forecasting.<\/p>\n\n\n\n<p>\u2022 <strong>Document management:<\/strong> Common tools include Google Drive, OneDrive, Share Drive, and DropBox.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-most-common-challenges-for-not-moving-to-a-best-of-breed-approach\"><strong>Most common challenges for not moving to a best-of-breed approach:<\/strong><\/h2>\n\n\n\n<p>\u2022 Costly and complex, especially for firms with legacy systems.<\/p>\n\n\n\n<p>\u2022 Many firms still rely on tools within existing software suites due to licensing.<\/p>\n\n\n\n<p>Ultimately, firms that prioritise a shift to best-of-breed technology are likely to gain competitive advantages in efficiency, collaboration and client satisfaction. The future likely holds broader adoption as technology and strategic partnerships advance.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/elitebusinessmagazine.co.uk\/finance\/item\/the-thirst-for-best-of-breed-technology-is-great-so-why-are-there-no-clear-winners-in-tech-firms-usage\"><strong>You can read the full article here. <\/strong><\/a><\/p>\n\n\n\n<!--HubSpot Call-to-Action Code --><span class=\"hs-cta-wrapper\" id=\"hs-cta-wrapper-f49f0623-1f61-45b7-999b-316c85828edb\"><span class=\"hs-cta-node hs-cta-f49f0623-1f61-45b7-999b-316c85828edb\" id=\"hs-cta-f49f0623-1f61-45b7-999b-316c85828edb\"><!--[if lte IE 8]><div id=\"hs-cta-ie-element\"><\/div><![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/2270223\/f49f0623-1f61-45b7-999b-316c85828edb\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"hs-cta-img\" id=\"hs-cta-img-f49f0623-1f61-45b7-999b-316c85828edb\" style=\"border-width:0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/2270223\/f49f0623-1f61-45b7-999b-316c85828edb.png\"  alt=\"Download Whitepaper now: Beyond the hype: the real benefits of AI for your accountancy \"\/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(2270223, 'f49f0623-1f61-45b7-999b-316c85828edb', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code -->\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-to-find-out-more-about-silverfin-and-its-ai-capabilities-including-silverfin-assistant-why-not-book-a-introductory-call-today\">To find out more about Silverfin and its AI capabilities including <a href=\"https:\/\/silverfin.com\/en-gb\/product\/silverfin-assistant\/\">Silverfin Assistant<\/a>, why not <a href=\"https:\/\/connected.silverfin.com\/en-gb\/demo\">book a introductory call today<\/a>?<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>In this Elite Business exclusive, Silverfin&#8217;s Phil Hobden explores the increasing demand for best-of-breed technology in accounting.<\/p>\n","protected":false},"author":94,"featured_media":58486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[15,462],"tags":[290,337,352,355,360,407,715],"class_list":["post-58399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en-gb","category-blog-en-gb","tag-uk","tag-blog","tag-digital-transformation-en-gb","tag-digitalisation-en-gb","tag-strategy-en-gb","tag-accounting-software-en-gb","tag-best-of-breed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Best of Breed Technology in Accounting | Silverfin<\/title>\n<meta name=\"description\" content=\"Explore why best of breed technology is in high demand among accounting firms and what holds back clear winners in Central &amp; 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