Build vs. Buy vs. Partner vs. Embed: How Accounting in Your Platform Compares for Your SMB Customers

As a product leader in the vertical SaaS space serving small businesses, you're at a critical crossroads. Your platform excels in addressing the industry specific issues for your SMB customers, but there's a growing demand for integrated accounting capabilities.

According to a survey from Cornerstone Advisors, 74% of small business are very or somewhat likely to be looking for a new industry-specific software provider and 79% would be more likely to select an industry-specific software provider if it integrated all accounting functions (i.e. bookkeeping, invoicing, expense management, financial reporting, income tax services) into one platform.

The question now isn't whether to add these necessary functions — it's how to do it most effectively.

You're faced with four distinct paths, each with its own set of benefits and costs:

1. Build: Leverage your product expertise and maintain full autonomy, but at the cost of time, resources, and potential lack of specialized accounting knowledge.

2. Buy: Gain an immediate feature set through acquisition, but face high initial investment and complex integration challenges.

3. Partner: Implement quick, less than ideal integrations (like QuickBooks), but risk a disjointed user experience and limited differentiation.

4. Embed: Achieve a seamless user experience and faster time-to-market, with reduced maintenance burden and customization options.

Each strategy presents unique opportunities and challenges. Building in-house offers complete control but demands significant time and resources. Buying a solution provides immediate capabilities but comes with integration complexities and technical debt. Partnering is quick to implement but the integration will lack key data and fragment the user experience. Embedding an API balances speed, customization, and user experience, but requires careful selection of the right provider.

The choice you make will impact your product roadmap, resource allocation, customer satisfaction, and ultimately, your platform's success in the market. It's a decision that requires careful consideration of both short-term implementation and long-term implications.

To help you navigate this complex decision, we've created a comprehensive chart that breaks down the benefits and costs of each approach. This visual guide will empower you to:

1. Quickly summarize the impact on your development timeline and resources
2. Understand the potential effects on user experience and customer retention
3. Evaluate long-term maintenance and regulatory compliance considerations
4. Gauge the level of control and customization each option provides_‍‍

Ready to gain clarity on this critical choice? Download this important chart now and take the first step towards optimizing your platform with the right accounting solution strategy.

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