Final answer:
A company with $8 million in revenue would likely purchase midmarket accounting software, which is more advanced than solutions designed for small businesses but not as complex or expensive as Tier 1 ERP systems intended for larger enterprises.
Step-by-step explanation:
When categorizing the accounting software market, a company with revenue of $8 million would most likely purchase software from the midmarket segment. Smaller companies typically use basic accounting software or small business solutions. As companies grow and their revenue increases to the range of millions, they start to have more complex accounting and business process needs that can be best served by midmarket accounting solutions. Midmarket software is designed to handle more transactions, support additional users, and provide more comprehensive reporting and analysis tools compared to software intended for small businesses.
Beginning ERP (Enterprise Resource Planning) software is intended for companies that are just starting to integrate their business processes, but these are usually too basic for a company with $8 million in revenue. Tier 1 ERP systems are designed for multi-billion-dollar companies with global operations, and thus would be excessive in terms of cost and complexity for a business of this size.