Digital Financial Reporting

Software vendors have a "silo mentality" it seems.  None of these software vendors seem to understand the power of standards: 

• Uncat for categorizing uncategorized transactions in Quickbooks.
• Circit for bank confirmations
• Adapio for bank transaction analysis
• Autoreview for reviewing bookkeeping discrepancies
• Mindbridge for audit and assurance
• Engine B for audit common data model
• Quickbooks for accounting
• Logdeit for tax filing and XBRL generation
• Aoralaw for making tax decisions

I could list many others.  Not one of these application shares information with other applications, i.e. each essentially works in an individual silo (other than some interact with Quickbooks). 

Great perspective for each individual software application trying to lock in their customers; incredibly dumb perspective from the point-of-view of a business (i.e. customer) that needs to use those software applications and the functionality provided by each.

This silo mentality or application centric view of the world is outdated and it will not work for modern approaches to accounting.

Standards make markets. These people might want to read and understand "The Box" which explains how the ISO standard shipping container made the world smaller and the world economy bigger.