10 Tips for Selecting a New Accounting Software System
Choosing the right accounting software can be an intimidating process. With so many vendors, products, and functions, you may long for the days when manual cash books set the pace. Don’t let the hassle keep you from the reward of finding an efficient and user-friendly system to grow your business. The right system will deliver insights that you can turn into opportunity. Use these 10 tips to make the process less daunting:
- Formalize your needs assessment. Evaluate any current system using likes and dislikes. Create a goals list of business outcomes you expect to see from your investment, and explore software features and functionality. Talk to all end users and write down your current and future needs in a single document. Think globally and prioritize integration with other systems. Use the document to navigate product comparison activities.
- Set a realistic budget. An accounting system is an investment. The least expensive tool on the market may not serve your needs over time. The right system will evolve with your business and offer long-term results. Prepare to explore online opportunities and hosted solutions.
- Investigate adaptability. Evaluate system architecture, customization capabilities, database arrangements, and scalability opportunities. Look for on-premise or cloud-based database arrangements that fulfill your needs for data security, compliance, system integration, and growth expectations. Work with technical consultants and in-house team members to identify the appropriate solution.
- Engage a consultant. Consultants live and breathe product expectations. A great consultant will listen to your needs and recommend an accounting software solution that fits. Many consultants, including DSD Business Systems, offer end-to-end software support.
- Use your network. Talk to businesses about their experiences with Microsoft, Quickbooks, Sage, SAP, PeopleSoft, and other accounting solutions. Their operational insights may alert you to benefits and drawbacks you might not see in a demonstration. Sage recently ranked at the top of PC Magazine’s list of top business accounting solutions for 2017. DSD is a Gold Development Partner for Sage.
- Think globally. Go beyond current needs as you search for the right system. Many small and medium-sized businesses now compete successfully in a global marketplace. Consider the usability of the software in other markets.
- Try before you buy. Take advantage of trial periods, interactive demonstrations, and available references. Allow everyday end users to play with the system, talk to other users, and highlight any concerns before you invest in a tool or suite of tools.
- Understand vendor support. Examine the experience and reputation of all software manufacturers and vendors. Look for vendors that demonstrate a history of successful customer support and product updates/service. Look at the business’s experience, current ratings, and online reviews. Carefully choose accounting software publishers for long-term satisfaction.
- Involve end users in the selection process. Decision makers within a business often make final purchasing decisions, but end users will ultimately build value from the tool. Discover the learning curve. Involve accountants, HR representatives, sales representatives, and other stakeholders in the selection process to find the right features and functions.
- Take your time. Avoid rushing into a project demo or purchase to fulfill a short-term need. Take the necessary time to research and vet a tool or system designed to support long-term business goals.
New accounting software can streamline workflows, enhance productivity, and support employee satisfaction. Use these tips to find the right software for your business needs. Ready to explore a Sage or Acumatica accounting product or find more insights into accounting tools? Contact DSD Business Systems to get started today.
Written by DSD Business Systems
