The field of computer-assisted accounting has changed dramatically. For many years, the process of bookkeeping and accounting was best left to those professionals who understood the arcane tasks and uttered strange pronouncements like:

Welcome to our inaugural Top New Products report!

ACCOUNTING/ERP

WIPRO, NETSUITE PARTNER IN CLOUD PACT

Intuit.com and some of its major Web sites, including QuickBooks Online, Intuit Online Payroll, Quicken and QuickBase, are back online after a power outage shut them down on Tuesday.

Businesses that adopt electronic payment and process channels have been able to achieve a 16 percent decrease in the cost of accounts receivable processing and a 14 percent decrease in accounts payable costs year over year, according to a new study.

FinancialForce.com has released the Summer ’10 version of its cloud accounting software, which includes interdepartmental collaboration tools powered by Salesforce.com’s Chatter technology.

Manufacturing software developer MISys, Inc. has released version 4.2 of its manufacturing system, which features some 25 upgrades, including improved integration with QuickBooks, Accpac and Peachtree.

IMGCAP(1)]Over the last decade, “practice management” has become an industry unto itself.

Companies that integrate a cloud strategy with their strategic business imperatives can improve connections across a network of suppliers, time zones and cultures, according to a new report by PricewaterhouseCoopers LLP.

NetSuite Inc. has launched a product to help businesses automate the complex process of complying with new rules from the Financial Accounting Standards Board for revenue recognition of multi-element sales.

Copanion’s GruntWorx Populate paperless tax workflow application now integrates with CCH’s ProSystem fx Tax and Thomson Reuters Tax & Accounting’s UltraTax CS.

Cloud-based accounting and compliance software provider OptionEase Inc. has added a new earnings-per-share reporting function that gives users the ability to configure reports to match a specific accounting methodology and requirements.

Copanion-Unveils-Tax-Data-Retrieval-Solution

Project-focused ERP software maker Deltek Inc. hasoffered to buy Denmark-based enterprise software maker Maconomy, a move thatwould effectively add 600 customers in 60 countries -- particularlyadvertising, public relations and consulting companies, and accounting firms.

IMGCAP(1)]Internet connectivity is both the best friend and arch nemesis of cloud computing. One of the first questions a firm will ask when considering the inevitable move to the cloud is related to connectivity and reliability of the Internet.

CPA2Biz, the marketing arm of the American Institute ofCPAs, has added Web-based audit confirmation services provider CapitalConfirmation Inc. to its growing list of Trusted Business Advisor Solutions,which also includes Bill.com, Copanion, Intacct, Paychex, and XCM Solutions.

Accounting Today is in the midst of collectingsubmissions for its 2010 ranking of the Top 100 VARs.

According to Peter Weill, senior research scientist and chairman at MIT's Sloan Center for Information Systems Research, "IT-savvy firms have margins 20 percent higher than the industry average. Firms with less than average spending and savvy have margins 32 percent lower than their industry."

COUGAR MOUNTAIN SOFTWARE RELEASES DENALI 2.9