State of European Accounting Tech 2025 PDF Free Download
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State of
European
Accounting
Tech 2025
Foreword
Key ndings
Introduction & methodology
Evolution of accounting technology
in Europe
Market landscape
How SMEs evaluate and choose
accounting software
Software integrations
and automation
Conclusion
About Chift
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State of European Accounting Tech 2025
CHAPTER 1
Foreword
·
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State of European Accounting Tech 2025
CEO, Chift
Accounting is at the heart of every financial product. It is the source
of truth for a business's financial health and the point where all
financial data ultimately converges.
At Chift, we began with a belief: software companies should focus on
building great products, not wrestling with integrations. But the reality
in Europe is tough. Every country has its own software champions,
compliance requirements, and interpretations of “standard.”
For any company trying to scale, this isn’t just a technical hurdle,
it’s a strategic bottleneck.
In the U.S., a startup building financial software might integrate with QuickBooks and Xero and
be ready to launch. In Europe, the same company could face dozens of accounting platforms
per country, each with different formats, APIs, and functionality. Yet the opportunity is enormous:
33 million European SMEs are increasingly embracing digitalization.
Every SaaS team we’ve worked with shares the same pain. Building and maintaining integrations
with European software—especially accounting platforms—slows launches, drains resources,
and limits growth. Europe is not a single market, but a collection of local ecosystems shaped by
fragmented regulation, dominant incumbents, and country-specific tech stacks.
Over time, we've developed deep expertise in navigating the European accounting landscape,
and our customers increasingly turn to us for guidance. They often ask: Which markets are the most
mature? How do SMEs work with their accountants? Which software dominates in each country?
How can we build a go-to-market strategy around accounting integrations?
This white paper is our contribution to the conversation. It outlines the state of European
accounting tech in the countries where Chift is most active in 2025. We draw from our experience
helping SaaS vendors connect faster, scale smarter, and avoid common integration pitfalls.
Whether you're planning your first expansion or already operating in these countries, we hope
this gives you a clearer view of the road ahead.
Gauthier Henroz
State of European Accounting Tech 2025
CHAPTER 2
Key ndings
·
6
State of European Accounting Tech 2025
The European accounting
landscape is highly
heterogenous
Accounting as a profession
is viewed differently in each
market, with drastic differences
in regulation, industry structure,
remuneration and even definition.
This, in turn, impacts the software
usage.
While the US have
Quickbooks, Europe doesn't
have its champion yet
Our panel of 607 European SMEs
mentioned more than 60 distinct
accounting software solutions,
reflecting the decentralized
and highly fragmented European
landscape driven by local
market nuances.
73% of SMEs use multiple
tools to manage their
finances
As software becomes more
and more specialized, the SMEs
financial stack expands.
This fragmentation drives
dissatisfaction, as 42% report
integration capabilities of current
software as inadequate.
54% of SMEs manage their
accounting internally, while
46% do so with the help of an
external accountant
This split in accounting approach
creates different needs for
accounting software to fulfill.
Pricing is not a key decisive
factor
SMEs prioritize accounting entry
automation (57%) and seamless
integration capabilities (49%) over
price when selecting accounting
software, indicating that
functionality and interoperability
outweigh cost concerns.
European SMEs show high
mobility between accounting
software (low loyalty)
The European accounting
software market is characterized
by high willingness to change,
with 45% of SMEs changing their
software within the past year,
and a significant portion indicating
plans to change software in the
coming year, driven mainly by
a desire for improved features
and integration capabilities.
AI adoption accelerating
More than half (54%) of SMEs
already use AI-driven features
in financial software, particularly
for fraud detection (44%),
automated accounting entries
(42%), and financial analysis
and forecasting (40%).
Integrations are a strategic
necessity
In Europe’s fragmented accounting
landscape, integration is no longer
just a feature — it’s a key
differentiator. Software vendors
must connect seamlessly
with accounting tools to drive
adoption, retention, and long-term
scalability.
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State of European Accounting Tech 2025
Introduction
& methodology
CHAPTER 3
·
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State of European Accounting Tech 2025
Introduction
Accounting has long played a key role for
businesses, with small and medium-sized
enterprises (SMEs) traditionally relying on
manual processes, collecting paper
receipts and sending physical documents
to accountants. For decades, this routine
defined financial management. However,
the past decade has witnessed a dramatic
shift: first with digitized records, then with
automation, and now with AI-powered tools
that extracts, categorizes, and reconciles
transactions in real time. On a macro level,
regulatory initiatives like the rollout of
mandatory e-invoicing across Europe are
acting as powerful catalysts, accelerating digital
adoption and transforming financial workflows.
This transformation is reflected in the rapid
growth of the accounting software market
which is projected to grow at a compound
annual growth rate (CAGR) of 18.7% from
2022 to 2028.
Today, SMEs rely on a growing number of
specialized software to manage their finances,
from invoicing and payment solutions to spend
management, payroll, and financial planning
platforms. The accounting technology
ecosystem has expanded beyond traditional
accounting software to include pre-accounting
solutions, financial analytics, and embedded
finance offering.
However, while these innovations help
businesses operate more efficiently, they also
create a fragmented ecosystem. Businesses
are demanding automation and real-time
connectivity, and software providers must
adapt to this shift by ensuring their solutions
integrate smoothly within the broader financial
tools ecosystem.
This report explores how businesses are adopting accounting technology, what they
expect from financial tools, and how the market is evolving. By the end of this study,
software providers will be equipped with valuable insights to refine their product
strategies and align their solutions with the changing needs of SMEs.
9
State of European Accounting Tech 2025
This study aims to give insights about
the accounting technology market in 4 major
European countries, understand the current
industry trends and provide tips to better
operate in the accounting market.
To achieve this objective, we surveyed business
owners, CEO or CFO of companies between
11 and 500 employees, in 4 different countries:
France, Italy, the Netherlands, and Spain.
These countries reflect Chift’s current footprint
in early 2025. As Chift grows across Europe,
the next study will expand the scope of
research to include additional countries.
In total, we surveyed more than 600 companies
by asking questions about their accounting,
software usage, behavior and expectations
for the future. For a better understanding of
the market, we chose to separate this panel
into two different groups with different needs:
· Small companies: from 11 to 100 employees
· Medium companies: from 101 to 500 employees
In addition to this survey, we gathered external
data such as publicly announced numbers,
press reports, public surveys, and private data
based on Chift’s expertise. We also spoke with
experts in the sector to validate our insights
and gain a deeper understanding of market
dynamics. As a financial data integration
platform, Chift is at the heart of the accounting
technology market, connecting the dots
between diverse financial solutions.
As no data is publicly available about software’s
market share and the relatively small sample
size of 600 companies - especially considering
that these companies mentioned together
more than 60 different software solutions -
we chose to focus on identifying trends rather
than quantifying exact figures. This approach
highlights the clear fragmentation of the
European accounting technology landscape.
We welcome input from others with access to
more granular data. If you believe our estimates
can be refined or improved, please reach out -
we intend to update our findings as new
information becomes available.
Methodology
State of European Accounting Tech 2025
CHAPTER 4
·
Evolution
of accounting
technology
in Europe
11
State of European Accounting Tech 2025
The last decade has brought a profound shift in how SMEs manage their finances. What was once
a linear process - dominated by manual data entry, desktop software, and delayed reconciliation -
has evolved into a complex, interconnected software ecosystem powered by real-time data,
automation, and APIs.
Today, accounting technology extends far beyond core accounting software. It includes every
tool that touches financial data: from invoicing, spend management, and payroll, to payments,
analytics, and cash flow forecasting. As financial data flows across these systems, accounting
becomes the central node—a strategic data hub that enables decision makers to make faster
and smarter decisions. Below, we explore the key phases of this transformation and the implications
for software vendors entering the space.
How SMEs are using software
SMEs across Europe are rapidly evolving in how they manage financial operations. The shift from
monolithic systems to modular, task-specific software is reshaping the accounting technology
landscape. Nowadays, SMEs are using 42 SaaS on average, from which multiple financial tools,
layering platforms for billing, spend management, payroll, and forecasting on top of core accounting
systems.
This trend reflects broader digitalization patterns across Europe. EU data shows that 43% of SMEs
use an ERP system, increasing to 90% for larger businesses, while 26% use CRM systems
and 15% adopt Business Intelligence tools. In parallel, Statista values the European software
market at €70 billion, with average spend reaching €168 per employee annually.
Source :
Source Eurostat :
hps://backlinko.com/saas-statistics
hps://ec.europa.eu/eurostat/statistics-explained/index.php?title=E-business_integration
Entreprises adopting e-business
applications
All entreprises
Small entreprises
Medium entreprises
Large entreprises
% of entreprises
Entreprises having
a website
Entreprises using
ERP software
Entreprises using
CRM software
Entreprises using
BI software
12
State of European Accounting Tech 2025
Our survey of SMEs in France, the Netherlands, Italy, and Spain offers a detailed snapshot of financial
software adoption. The results highlight that many companies use multiple types of software
to manage their finances. Unsurprisingly, dedicated financial software (such as accounting and
pre-accounting tools) leads adoption, but notably its usage reaches 58%, well ahead of ERP systems
at just 27%. This suggests that SMEs often prioritize specialized solutions over broad all-in-one
platforms when managing their financial operations.
Which tools are you using for
your company's nancial management?
Chift's internal survey results from business owners in France, The Netherlands, Spain and Italy.
Together, these insights highlight a clear move toward software diversification, with both EU-level
and market-specific data pointing to a fragmented but highly dynamic digital ecosystem. However,
this diversification also introduces challenges, as many SMEs operate in a hybrid environment that
mixes modern cloud tools with legacy on-premise systems. This patchwork limits their ability to
connect data sources and fully leverage automation, making seamless integration across financial
tools one of the biggest hurdles in the evolving landscape.
The verticalization of software and rise of embedded nance
The rise of fintech across Europe, now with over 9,200 companies, reflects growing demand for
specialized financial software. This trend, known as verticalization, appears in two main forms:
software tailored to specific industries (e.g. SaaS for construction, restaurants, hairdressers, etc.)
and software focused on precise financial functions (spend management, cashflow analysis, AP/AR
solutions…) that cut across industries. These specialized solutions allow businesses to meet their
operational needs more precisely, but they also lead companies to adopt a growing stack of tools.
Even all-in-one platforms like Odoo or Zoho rarely cover every requirement, reinforcing the need
for seamless integration between systems.
Source : hps://www.statista.com/topics/3397/ntech-market-in-europe/#topicOverview
58% Financial software (accounting, pre-accounting, ...)
39% Vertical software (industry-specific)
27% ERP
25% CRM / POS / E commerce
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State of European Accounting Tech 2025
To meet this demand, embedded finance solutions have emerged, enabling vertical software
to integrate fintech features like payments, lending, or banking directly into their platforms,
without having to build financial infrastructure from scratch.
While embedded finance simplifies adding fintech features, accounting remains the most complex
module to develop, even though it is the backbone of financial data. Its complexity comes from
country-specific regulations and tax standards, while its role as the compliance backbone
and central data hub makes it indispensable. Most platforms ultimately rely on integrating
with established accounting systems to deliver a complete financial solution.
Accounting as a strategic core
Among all categories of financial software, accounting platforms are not only the most complex
to build but also the most indispensable. They require deep compliance with local tax laws,
rigorous auditability, constant updates for regulatory changes, and support for diverse workflows.
As a result, very few new fintech or SaaS companies attempt to build accounting systems from
scratch. Instead, they choose to integrate with existing accounting platforms, which already
serve as reliable, regulation-ready ledgers.
“Accounting is the core ledger for everything in nance.
Invoicing, payroll, cash management: they all feed into it.
That’s why every nance tool eventually needs to connect
to the accounting system.”
George Robson
Partner at Sequoia Capital
This has positioned accounting software as the foundational infrastructure layer for an increasingly
connected ecosystem of financial applications. This ecosystem operates across three key layers:
· Operational tools that generate financial data, such as commerce platforms (POS, Ecommerce, …),
ERPs, CRMs, etc.
· Pre-accounting systems that structure and prepare data before it reaches the ledger,
including payroll, invoicing, and expense management tools
· Core accounting platforms that reconcile, report, and ensure compliance
These layers must now work together in real time. The accuracy of financial automation, particularly
for AI-driven tasks like reconciliation, categorization, and forecasting, depends entirely on how well
these systems integrate and communicate.
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State of European Accounting Tech 2025
In this context, accounting software is no longer just a back-office necessity: it has become
a strategic enabler of automation, financial insight, and operational agility, serving as the data
backbone for modern finance stacks.
A major driver of this evolution is regulation. The upcoming wave of mandatory e-invoicing across
the EU will require B2B SMEs to use certified digital invoicing tools, prompting widespread adoption
of software at the source of financial data. While this does not necessarily force companies to
change their accounting systems, it will shift operational habits. Accounting software will need
to adapt by establishing connectivity with the data sources to ensure seamless data retrieval
and reconciliation. As a result, e-invoicing is expected to reshape industry workflows and accelerate
the push toward greater automation and interoperability.
State of European Accounting Tech 2025
Market
landscape
CHAPTER 5
·
16
State of European Accounting Tech 2025
“The market of accounting
software in Europe is massive.
Every business needs an
accountant, and the willingness
to pay is high. This is probably
the only software market in
Europe where each country
has enough room to have one
single player making a billion
in revenue.”
Understanding the accounting software landscape in Europe
As accounting lies at the center of all financial
operations, it is crucial for financial software
vendors to understand the accounting
software landscape.
Accounting as a function is critical for SMEs,
ensuring financial stability, compliance,
and informed decision-making. The way
SMEs manage accounting varies significantly
by country and company size. Many small
businesses rely on chartered accountants
to handle bookkeeping, tax compliance,
and financial reporting. Especially those
without dedicated finance staff. As SMEs grow,
they are more likely to internalize accounting
functions, often complementing them with
external expertise.
According to our internal survey conducted
across France, the Netherlands, Italy,
and Spain, 54% of SMEs manage their
accounting internally, while 46% do so
with the help of an external accountant.
However, the role and perception of external accountants differ across European countries,
shaping how businesses delegate their financial management.
In France, external accountants, called “experts-comptables”, are highly regulated professionals
with a protected status, extensive responsibilities, and strong reputational trust.
These responsibilities can cover a broad range of services, such as managing payroll, illustrating
the critical support they provide to businesses. As a result, 48% of French SMEs work with external
accountants, and 16% rely exclusively on them, more than in any other country surveyed. Moreover,
this number rises to 26% for the very small companies (11-50) of our panel.
In Spain, the equivalent role is the “asesor”, who typically handles a broader range of administrative
services beyond just accounting, and is often less specialized. This aligns with a lower reliance rate:
only 36% of Spanish SMEs use external accountants.
In Italy, “dottore commercialisti” serve a similar function to French experts-comptables, offering
both tax and financial services. Businesses in the Netherlands are more likely to use general
accountants called “boekhouders” with a focus on advisory and compliance.
George Robson
Partner at Sequoia Capital
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State of European Accounting Tech 2025
These national distinctions impact not only how accounting is managed, but also which
software is adopted. Some platforms can better support the needs of chartered accountants,
offering features to manage multiple clients simultaneously, while others are more tailored
to internal teams and their operational workflows.
Reflecting this transformation, the accounting software market is expanding rapidly.
It is a multi-billion market growing at a CAGR of 18.7% between 2022 and 2028 according to
KBV research. This growth underscores the rising demand for digital solutions that accommodate
a variety of accounting setups and regulatory contexts across Europe.
In the next chapter, we will explore the current the software market individually for each of the four
countries, highlighting key solutions and trends shaping financial management for SMEs.
Countries internal
vs external accounting
National market snapshots
Europe’s accounting software landscape is highly localized. Across France, the Netherlands, Spain,
and Italy, our panel cited over 60 different software, reflecting deep national differences in tax
frameworks, professional standards, and software ecosystems.
Even international brands like Sage, Cegid, Wolters Kluwer, or TeamSystem operate through
distinct local products, often shaped by acquisitions and local compliance demands. For example,
Sage 50 exists in the UK, France, and Spain but differs significantly in functionality and architecture.
Global platforms such as Microsoft Business Central, Xero, NetSuite, or Odoo were cited across
multiple countries, yet remain exceptions in a landscape largely dominated by domestic providers.
For SaaS vendors, this fragmented reality means that European expansion requires a market-
by-market integration strategy, not just translation or brand rollout. Each country demands
compatibility with its specific software environment and accounting practices.
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State of European Accounting Tech 2025
To provide actionable insight, we analyzed software usage across two company segments:
Small (11–100 employees) and Medium (101–500 employees). These groups show distinct patterns
in software complexity, integration needs, and collaboration with accountants. However, for France,
we applied a different lens, due to the influential role of experts-comptables and the high number
of accountant-specific solutions.
“To succeed in Europe’s accounting market, you need
to get three things right: regulation, culture, and available
technology. Because each country is so different, the market
is incredibly fragmented, which makes expansion really
difcult. Even big players from the US and Australia haven't
succeeded as they realized how complex it is to operate
in just one European country.”
Petteri Rantamäki
Accounting office strategist at Visma
Accounting software landscape
Comparison of accounting software usage
across European countries
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State of European Accounting Tech 2025
Overview
France is the largest economy in this study,
with a high GDP and a thriving fintech
ecosystem supported by government
initiatives. Home to numerous fintech
unicorns and a strong B2B startup pipeline,
France is a prime market for financial software.
The accounting profession is one of
the most structured in Europe, centered
around experts-comptables—certified
professionals who hold legal authority over
financial reporting.
Number of accounting
tools mentioned
21
% of SMEs working
with chartered accountant
September, date of e-invoicing
million, number of SMEs
(market size)
E-Invoicing Regulation
France is undergoing a major transformation with the rollout of mandatory e-invoicing.
Starting September 2026, all VAT-registered businesses must be able to receive e-invoices
via certified digital platforms (“PDPs”). Issuing e-invoices will be phased: large and mid-sized
companies (250–4,999 employees) must comply in 2026, followed by SMEs and microenterprises
in 2027.
All e-invoicing and reporting will route through either the public portal or approved private platforms,
marking a fundamental shift in how B2B transactions are processed in France—even for the smallest
businesses.
Market Landscape
France has the most fragmented accounting software environment among the countries studied,
with 21 software cited by the respondents. This reflects a dual-user structure: smaller companies
often delegate accounting to external experts-comptables, while medium-sized firms are more
likely to internalize processes, relying on ERP systems such as Microsoft Business Central or Sage 100.
France
48
2026
5.2
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State of European Accounting Tech 2025
This duality is shaped by France’s regulated accounting profession. 48% of SMEs work with
an external expert-comptable (chartered accountants), many of whom manage multiple clients
through specialized, accountant-focused tools. These professionals frequently use more than
one software solution depending on their client base.
Broadly, the French market is divided into three software categories: ERP platforms that include
accounting as one module, accountant-specific software, and hybrid solutions designed to
connect SMEs with their accountants. Vendors like Sage and Cegid operate across the two first
categories, offering products for both SMEs and accountants. Those players are dominating
the market, although Cegid Quadra is likely underrepresented in our data, as it is primarily used by
experts-comptables who weren’t part of our survey panel.
A new generation of collaborative tools is also emerging (most notably Pennylane or Tiime) which
are showing rapid growth by targeting both SMEs and experts-comptables with a shared platform
that bridges both workflows.
For B2B SaaS vendors, France is a strategic yet complex market. Success requires adapting to this
dual structure, aligning with local compliance needs (including upcoming e-invoicing mandates),
and building strong integration capabilities in a fragmented ecosystem.
Note: This chart does not represent actual market share. It reflects the number of SMEs from our panel who reported
using each software. The data is directional and intended to illustrate relative visibility and adoption trends,
not precise penetration rates.
French Market Landscape
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State of European Accounting Tech 2025
Spain is one of the fastest-growing fintech
markets in Europe, benefiting from proactive
government policies and strong GDP growth.
Unlike other countries in this study, Spain’s
accounting profession is less regulated.
"Asesores fiscales" typically handle only
bookkeeping and tax filings, while legal tax
advice is reserved for lawyers. This structure
drives down accountant rates and reduces
their strategic influence on software adoption.
Spain’s “Crea y Crece” law will make e-invoicing mandatory for all B2B transactions.
Businesses earning over €8 million must comply 12 months after final technical specs are
published (expected mid-2025), with all others following 24 months later.
Invoices must use the Facturae XML format and be validated in real time through a central
government platform. In parallel, the Veri*Factu law will require certified invoicing software
starting January 2026 for corporations and July 2026 for all other taxpayers.
Compared to other countries in this study, the Spanish accounting software landscape appears
moderately fragmented, with 11 different software mentioned by our panel. While this figure may
seem lower than in other markets, it still reflects a diverse ecosystem.
The market is dominated by long-established providers such as Sage 50, Sage 200, A3 Software
(Wolters Kluwer), and Contasimple (Cegid), which lead adoption across both small and medium-
sized companies. However, modern challengers like Anfix, Quipu, and Holded are steadily gaining
ground, appealing to SMEs looking for more flexible, cloud-native solutions.
Overview Number of accounting
tools mentioned
11
% of SMEs working
with chartered accountant
January, date of e-invoicing
million, number of SMEs
(market size)
Spain
36
2026
3.5
E-Invoicing Regulation
Market Landscape
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State of European Accounting Tech 2025
Notably, 64% of Spanish SMEs handle accounting in-house—the highest rate among the countries
surveyed. This reinforces a market focus on tools built for businesses themselves, while external
advisers like asesores fiscales play a more limited operational role.
For SaaS vendors, Spain offers a market with strong digital momentum and clear opportunities for
innovation. While legacy tools still dominate, the growing openness of SMEs to modern, cloud-based
platforms signals an evolving landscape ready for disruption.
Note: This chart does not represent actual market share. It reflects the number of SMEs from our panel who reported
using each software. The data is directional and intended to illustrate relative visibility and adoption trends,
not precise penetration rates.
Spanish Market Landscape
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State of European Accounting Tech 2025
Often viewed as a fintech underdog due to
economic challenges and regulatory
complexity, Italy is now steadily advancing, in
part driven by structural reforms. A key catalyst
was the introduction of mandatory e-invoicing
in 2019, which accelerated digitalization across
the accounting sector. Italy also has one of the
most regulated accounting professions in
Europe. SMEs are legally required to work with
dottori commercialisti (chartered
accountants), who manage tax filings, financial
reporting, and compliance. This professional
framework strongly shapes how accounting
software is selected, with many designed to
support collaboration between SMEs and their
commercialisti.
Italy was the first EU country to mandate e-invoicing for all B2B transactions, starting in 2019.
All invoices must be submitted via a centralized platform using a standardized SDI-compatible
XML format. This regulation sparked a wave of standardization and digital modernization across the
accounting software landscape. It also positioned middleware platforms and SDI integration tools as
critical infrastructure. Italy’s model is now considered a benchmark for EU-wide e-invoicing reforms,
reinforcing the country’s position as a proving ground for automation and compliance innovation.
Our panel cited 17 different accounting software in Italy, highlighting the fragmentation of the
market. Adoption patterns vary significantly by company size. Medium-sized businesses tend to
use comprehensive platforms like Microsoft Dynamics, Zucchetti, TeamSystem, and to a lesser
extent, Datev Koinos and NetSuite. In contrast, smaller enterprises are more likely to adopt
solutions such as Datalog, Reviso, and Sistemi, reflecting a preference for software aligned
with external accountant collaboration.
Overview Number of accounting
tools mentioned
17
% of SMEs working
with chartered accountant
Date of e-invoicing
million, number of SMEs
(market size)
Italy
47
2019
4.6
E-Invoicing Regulation
Market Landscape
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State of European Accounting Tech 2025
The role of dottori commercialisti, Italy’s legally required chartered accountants, remains central
to how software is used. Many solutions are purpose-built for this relationship, offering features like
document exchange, client portals, and compliance support.
The dominance of major players like TeamSystem and Zucchetti across both small and medium
segments underscores the importance of deep integration capabilities for SaaS vendors.
To succeed in Italy, solutions must be compatible with leading platforms, enable collaboration
with accountants, and navigate a regulatory environment shaped by one of the most advanced
e-invoicing frameworks in Europe.
Note: This chart does not represent actual market share. It reflects the number of SMEs from our panel who reported
using each software. The data is directional and intended to illustrate relative visibility and adoption trends,
not precise penetration rates.
Italian Market Landscape
25
State of European Accounting Tech 2025
The Netherlands is one of Europe’s most
digitally advanced markets, with tech-forward
SMEs and a strong appetite for modern
financial tools. Despite its small size, the
country is a key fintech hub, supported by
high GDP per capita and strong infrastructure.
Dutch “boekhouders” play a more advisory
role, with most SMEs managing day-to-day
accounting in-house. This shapes software
demand toward user-friendly, internally
operated tools, with high expectations for
integration and automation.
The Netherlands has required e-invoicing for public sector transactions since 2017, using Peppol
or Digipoort. B2B e-invoicing remains voluntary, but adoption is high thanks to incentives and strong
support from local accounting platforms. The decentralized, open setup encourages innovation
and smooth API integration without a central authority.
The Dutch accounting software landscape is undeniably fragmented, with 14 different solutions
mentioned in our study. Yet unlike other European markets, the Netherlands sees no significant
presence of global software brands. Instead, the market is shaped by local and regional leaders.
AFAS Software and Exact clearly dominate the market across company sizes.
Exact’s influence is particularly strong, with products like Exact Online widely adopted and
probably underrepresented in our panel. These two providers stand out as the most popular
and trusted options for Dutch SMEs.
Overview Number of accounting
tools mentioned
14
% of SMEs working
with chartered accountant
Date of e-invoicing (only B2G)
million, number of SMEs
(market size)
49
2017
1.5
E-Invoicing Regulation
Market Landscape
The Netherlands
26
State of European Accounting Tech 2025
Usage patterns vary by company size. Smaller businesses tend to choose e-Boekhouden,
Snelstart or Asperion for their simplicity, while medium-sized firms often opt for
Visma eAccounting, Exact or AFAS, which offer broader functionality and scalability.
Visma, although a Norwegian company, has made the Netherlands its largest market,
with products like Visma eAccounting and Yuki well established.
Our survey shows that 49% of Dutch SMEs use an external accountant, a figure in line
with France and Italy. However, the role of accountants in the Netherlands is distinct,
often limited to compliance and advisory support rather than day-to-day operations.
For B2B SaaS vendors, the Netherlands offers a highly mature and integration-friendly market.
API adoption is widespread, and software is typically built to interconnect with other software.
Success in this market requires seamless integration, intuitive UX, and strong automation features.
Note: This chart does not represent actual market share. It reflects the number of SMEs from our panel who reported
using each software. The data is directional and intended to illustrate relative visibility and adoption trends,
not precise penetration rates.
Dutch Market Landscape
State of European Accounting Tech 2025
How SMEs
evaluate
and choose
accounting
software
CHAPTER 6
·
28
State of European Accounting Tech 2025
In previous sections, we analyzed the diverse accounting software landscape across France,
the Netherlands, Italy, and Spain. Now, let's explore the key behaviors, preferences, and challenges
SMEs face when selecting or switching accounting solutions, shedding light on their expectations.
Companies prioritize security and automation over pricing
When selecting accounting software, SMEs across Europe consistently rank data security
as the top priority. However, right behind it, integration capabilities emerge as the second most
important factor, even ahead of pricing, which consistently ranks last across all four countries
studied. Integration is cited among the top four priorities in every country, and it ranks second
in both Italy and the Netherlands, highlighting its central role in an increasingly connected
financial software stack.
The Netherlands
FranceSpain Italy
Main concerns when
using an accounting tool
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State of European Accounting Tech 2025
Automation of accounting entries emerges as the most desired functionality, with 57% of respondents
highlighting its importance. Seamless integration (49%) and real-time dashboards and reporting
(49%) also feature prominently, illustrating SMEs' preference for comprehensive and interconnected
solutions. These preferences are consistent across surveyed countries, reflecting universal demand.
AI: moving from novelty to necessity
Artificial Intelligence (AI) is no longer a novelty; it has become integral to modern accounting
software. Our survey reveals that 54% of SMEs are actively using AI features, with 20% indicating
extensive usage.
Notably, France diverges from the European average, with 19% of SMEs having no intention to adopt AI,
compared to 14% across Europe.
Are you using the AI features of your accounting software?
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State of European Accounting Tech 2025
SMEs primarily leverage AI for fraud and anomaly detection (44%), automated accounting entries
(42%), and financial analysis and forecasting (40%), underscoring AI's growing practical value
in financial management.
Why European SMEs are switching accounting software faster
than ever
Our data reveals a growing momentum in how SMEs approach accounting software.
45% of respondents report having changed their accounting solution within the past year,
highlighting a significant behavioral shift.
When asked why they switched, respondents pointed first to the need for better functionalities
and stronger integration capabilities, with cost reduction trailing as a distant third.
These findings confirm a clear trend: SMEs are increasingly open to replacing core financial
systems, and integration with their existing software is a critical factor in that decision.
In a fragmented and connected ecosystem, software vendors that fail to offer seamless
interoperability risk being left behind.
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State of European Accounting Tech 2025
Yearly budget for accounting software
According to responses from CEOs and CFOs in our panel, 73% of SMEs report spending between
€1,000 and €10,000 annually on accounting software. However, budget allocations vary by country.
Only 8% of Spanish SMEs claim to invest more than €10,000 per year, compared to 26% in Italy,
where software spend appears significantly higher. Italy also stands out compared to our other
markets with 63% of SMEs reporting spending over €5,000 compared to 54% and 56% respectively
for France and the Netherlands. These variations may reflect differences in how companies
structure their accounting operations - particularly the balance between internal and outsourced
workflows - as discussed in the country-specific sections.
Note: These figures are based on self-reported data from SME decision-makers
and may not reflect the full accounting budget or actual vendor billing.
Conclusion
European SMEs clearly indicate their desire for secured, well-integrated, and automated accounting
solutions. Recognizing these preferences and local market variability is critical for software providers
aiming to meet the dynamic needs of SMEs.
State of European Accounting Tech 2025
CHAPTER 7
·
Software
integrations
and automation
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State of European Accounting Tech 2025
Given SMEs' clear emphasis on seamless integration and automation, let's delve deeper into how
these expectations shape the financial software landscape. We'll examine the current integration
trends, the growing necessity of automation, and strategic approaches vendors can adopt to
effectively meet these demands.
Software fragmentation as a leading cause for dissatisfaction
Our data shows that 73% of European SMEs use more than one tool to manage their finances,
with many relying on two, or even three to five, different systems. This confirms that multi-tool
environments are now the norm, not the exception, making integration a fundamental need rather
than a nice-to-have.
However, fragmentation levels vary across countries. Spanish SMEs show the least fragmentation,
with nearly three-quarters using just one or two software. In contrast, Dutch companies are
the most diversified, with a significant share using between three and five software.
For that reason, integration issues remain a critical pain point for SMEs: 41.8% expressing
dissatisfaction with their current software's integration capabilities and highlighting considerable
room for improvement.
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State of European Accounting Tech 2025
Integrations: from optional feature to strategic necessity
As SMEs increasingly rely on multiple financial software, our survey reveals that 48.8% of respondents
view integration between accounting software and other applications as "very important or essential,"
while only 1.7% see it as insignificant. This demonstrates a clear change, showing that accounting
integrations have moved from being a convenience to becoming essential for business efficiency.
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State of European Accounting Tech 2025
Integration priorities align with company size and operational complexity. Our data highlights
that mid-sized SMEs (101-500 employees) have embraced integrations more aggressively,
with 50% achieving full integration between accounting and other systems, compared to just
34.5% of smaller firms (11-100 employees).
Over 50% of SMEs already automate critical tasks such as payment tracking (54%)
and invoice entry (53%). With mandatory e-invoicing imminent, the need for reliable,
plug-and-play integrations to power these workflows and automations is here to stay.
However, achieving seamless data flow across legacy and modern tools remains challenging,
often demanding technical resources SMEs and software vendors struggle to provide.
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State of European Accounting Tech 2025
“As SMEs increasingly rely on seamless integrations to
automate nancial processes and maximize the value of their
software stack, robust accounting integrations have become
critical. At Mollie, we are committed to helping businesses
unlock operational efciency by streamlining payment
reconciliation directly within their bookkeeping platforms.
By reducing manual tasks and minimizing human errors,
we empower SMEs to save time, make smarter decisions,
and drive growth.”
Joep Rohof
Senior Partner Manager at Mollie
Unleashing Team Potential through Integration
Outside of the processes they power,
integrations also deliver transformative
benefits across most of a software vendor’s
team, empowering each department uniquely:
· Developers: Robust integrations enable
developers to build powerful automations
effortlessly, reducing manual data entry
for customers and freeing up resources
to innovate with core features.
· Sales Teams: Sales representatives leverage
integrations as a compelling selling point,
confidently assuring prospects that their
solution fits perfectly into their existing
technology stacks, dramatically shortening
sales cycles.
· Marketers: Marketing teams increasingly
adopt an integration-first approach,
highlighting seamless connectivity as a key
competitive advantage in campaigns,
webinars, and promotional materials. It also
opens up opportunities for co-marketing
initiatives with integrated tools as each
integration can be presented as a strategic
partnership.
“The rst thing prospects ask
is whether or not they can
import data from their
accounting software”
Nicolas Mille
Product Manager
By enabling smooth interoperability,
integrations enhance productivity, improve
operational efficiency, and become a potent
strategic differentiator.
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State of European Accounting Tech 2025
Powering AI innovations with seamless integrations
The potential of AI further amplifies the value of integrations. As highlighted earlier, many SMEs
already leverage AI in their financial processes, a trend that continues to accelerate. AI-driven
automation and analytics require substantial amounts of accurate, real-time data. This data is often
scattered across various financial applications, from accounting and payment platforms to ERP
and supplier management systems. Robust integrations are crucial for gathering and structuring
this fragmented data, making it readily accessible for AI models.
Integration powered AI applications are actively explored by software vendors but already include
predictive analytics, anomaly detection, and strategic decision-making. Consequently, software
vendors equipped with comprehensive integrations are better positioned to fully harness
AI’s potential.
Accounting integration strategies that win
When it comes to integrations, software
vendors generally face two choices:
build or buy.
Building integrations in-house provides
complete control but is costly, complex
and take months per integration. Sparse API
documentation, difficulties gaining API access,
and technical hurdles can make in-house
teams struggle. Additionally, the ongoing
maintenance of integrations represents
a substantial hidden cost, frequently
underestimated by companies.
This maintenance imposes a major
opportunity cost, diverting valuable
developer resources away from enhancing
core features of the product.
Moreover, developers experienced in
integrations are rare, specialized resources
that many SMEs struggle to hire and retain.
“For a single accounting
integration, it takes us 12 to 16
weeks to be fully ready to
commercialize it. Thanks to
Chift’s unied API, we delivered 4
nished integrations in about 4
to 6 weeks. That’s about 10x
faster.”
Ashleigh Auld
Strategic Partner Marketing
Manager at Pleo
Launching integrations through unified APIs like Chift is the optimal choice, especially in Europe's
fragmented market, where each country often uses distinct local software across categories like
accounting, invoicing, ERP, and POS. Chift’s unified APIs connect vendors to all major software
within a category simultaneously, significantly streamlining the go-to-market strategy when
entering new markets.
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State of European Accounting Tech 2025
This approach eliminates complexity, reduces technical overhead, and drastically accelerates time
to market.
Unified APIs represent the future-proof strategy for integrations. As technology stacks continue to
expand and evolve, Chift not only ensures initial integration but also manages ongoing maintenance,
allowing developers to focus entirely on core product innovation and value creation. As an added
bonus, our clients can activate new connectors in one click, and we are constantly adding new ones.
Chift offers almost a hundred integrations in 6 Unified APIs: Accounting API, Invoicing & CRM API,
POS API, Ecommerce AP, Payments API, and PMS API.
Integrations as the backbone of tomorrow’s tech stack
Integrations have evolved from simple connections between tools to strategic assets critical to
automation, sales enablement, marketing strategies, and AI capabilities. Forward-thinking SMEs
and software providers who prioritize robust, scalable integrations position themselves to lead
in an increasingly interconnected technological landscape.
In the next and final chapter, we’ll consolidate key takeaways from this white paper and outline
strategic recommendations for software vendors looking to thrive in the evolving accounting
technology landscape.
State of European Accounting Tech 2025
CHAPTER 8
Conclusion
·
40
State of European Accounting Tech 2025
Conclusion
European accounting tech is undergoing
its most transformative decade.
Real-time tax systems, mandatory
e-invoicing, AI-driven automation
are reshaping what businesses expect
and what software vendors must deliver.
Software stacks are growing and SMEs are
more willing than ever to switch tools that don’t
integrate well. The opportunity is real, but so is
the complexity.
To succeed in this market, integrations
are no longer optional. It’s a must-have
for customers and for software vendors.
It’s now the infrastructure layer that drives
adoption, retention and strong product value.
But in Europe’s fragmented and localized
markets, building integrations at scale is hard.
The complexity isn’t going away, keeping SaaS
European expansion slow and costly.
The winners won’t be those trying to build
everything in-house. They’ll be the ones who
focus their teams on core value, and make
smart decisions about what to own and what
to delegate. Connectivity isn’t backend work
anymore. It’s product & growth strategies.
And in this landscape, speed, accuracy,
and reliability are critical.
Done right, integrations don’t just connect
systems, they expand what your software
can do. They unlock new workflows, new use
cases, and deeper value for your users.
That’s why solutions like unified APIs are
breaking down traditional barriers to entry,
letting SaaS products scale across Europe
without rebuilding the same logic market by
market.
The best SaaS companies already know this.
They don’t waste time reinventing integrations
or getting bogged down in compliance. They
focus on what makes them great, and rely on
partners whose core business is integration.
One thing is for sure: the next generation of
software companies won’t just build
integrations. They’ll be built on top of them.
State of European Accounting Tech 2025
CHAPTER 9
About Chift
·
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State of European Accounting Tech 2025
About Chift
Chift is the infrastructure layer for
accounting connectivity in Europe.
Its integration platform connects your software
to the fragmented landscape of European
accounting systems - cloud or on-premise -
through a single unified API. Instead of building
dozens of separate integrations, product teams
can connect once with Chift and unlock
coverage across all the financial tools of SMEs.
From accounting to invoicing, payments,
POS, e-commerce, and banking systems,
Chift connects all financial data sources,
enabling SaaS companies to deliver
automation, real-time insights, and seamless
user experiences. Whether building a CFO tool,
vertical SaaS, or lending platform, Chift unlocks
SaaS potential with connectivity.
By enabling seamless integration with financial
systems, sales teams close new deals,
marketing teams access new markets,
and product teams expand functionality.
With coverage across France, Benelux,
Germany, Spain, and Italy, and more markets
continuously added, Chift enables companies
to scale without multiplying integration efforts.
Visit chift.eu and dicover why leaders like
Revolut, Qonto, Mollie, Sage, Pennylane,
and many more, choose Chift.
One integration. Full coverage. Built for Europe.
Alexandre Demain
Founder’s Associate, Chift
Haroun Souirji
Head of Marketing, Chift
Gauthier Henroz
CEO, Chift
www.chift.eu
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