Accounting Software Packages for your business
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Steps to help you choose the right accounting software package
Choosing the wrong accounting software can be a disaster, it could lead to you losing your job from being unable to complete simple tasks or worse still make a successful business fail. It has certainly happened many times before where the wrong software has been purchased and the company in question has got themselves into hot water jeopardising hard won accounts and loss of sales through being unable to run the accounts functions smoothly.
Well, there are trade shows, seminars, and magazine articles on selecting accounting software, however these are resources are generally pre-empted where information is presented to you, they don't tell you exactly how and where there products have weaknesses; just the good stuff.
The same applies for the sales rep that might come to your office; after the normal faq, you will hear about the how the software will streamline the day to day but it's unlikely much time is spent on what other customers feedback has been.
The great news is that accounting software packages have improved tremendously over the past few years and it is much easier to end up with a fairly good product than it used to be. But still, here are some important steps you should follow when choosing the right accounting software:
Step by Step guide: 10 points to success
1. Get the Knowledge - before you can get started you need to know what's available to you: a good point to start is online: maximise your time and find customer reviews and information about the products in the market.
2. Start to become aware of your requirements; make a written list of your predicted needs, include specific products, that you've read about, heard or seen listed online.
3. Prioritise: Begin to work out what elements of accounting software are critical for day to day requirements and those that add value / those that are surplus to requirements
4. Elimination: Now that you are beginning to draw a virtual image of what your ideal package would look like; it's going to be relatively easy to remove the poor performers from your list
5. Evaluation: The trouble with integrating new software into your business is that it can cause disruption to both staff and customers; it is critical to review any software before you go ahead. Get in touch with your shortlisted suppliers and request a full trial so you can evaluate their software ( make sure it is a full demo trial and not a restricted demo)
6. During the evaluation process, confirm pricing from vendors, don't wait until the end of your process to discuss pricing. You may be able to obtain favourable pricing if the buying process is longer, or that the vendors are aware you are reviewing other software
7. Get help & Opinions: Ask the people that are going to be using the software what they feel they like about the potential new software and what issues they have with the current software
8. Contact your exiting software vendor: explain that you are close to choosing alternate software because the software you currently use does not meet your needs: expect to receive a very interested response, or if not you know that indeed you are using the wrong accounting software.
9. Get references: and we mean don't rely on pre-written testimonials that can be fed to you; but rather ask if you call telephone a company that uses their software and get a frank viewpoint
10. Decision stage - you're now quite well prepared. You have done more due diligence than most and it's likely that you will make the right choice of accounting software now that you know the real facts and have some real information at hand. But before you go ahead and purchase you must make sure that you are buying into a fair deal. Check for renewls, subscriptions, support, upgrading and of course in the event that a week down the line of using the software that there will be someone on hand to help you get over any initial teething problems.
Editors note: If you are in the market to buy accounting software look at our directory, it's likely that you will be able to find quite a few good companies that provide accountancy services and accountancy software.