Nearly everyone can point to a friend or colleague or even their own experience when choosing accounting software ended up being a mistake. Perhaps as you stand around the water cooler, you’ve talked about the mistakes that were made.
If you are currently looking for new accounting software, you don’t want to be the topic of the next water cooler discussion. We’ve helped many companies choose their accounting systems successfully and have seen mistakes that others have made in the process.
Here are some tips that we would like to offer to avoid the common mistakes companies have made in choosing financial software.
Tips to Avoid Common Mistakes When Selecting Accounting Software
Tip #1: Include HR in your financial accounting software needs assessment team.
One thing that many companies forget when they’re looking at accounting and finance software is that the HR software interacts with whatever package they choose—perhaps more so than any other system in the office. Make sure you include people from the HR department on the team assessing vendors and software. They’re likely to be heavy users of the new system, and whatever package you choose must work well with their system or you may face integration issues that can slow down adoption and usefulness.
Tip #2: Don’t choose a system because it works for another company.
Sure, you trust the guys over at Company XYZ. You’ve worked with them on many projects and their team is top notch. So when they recommended the financial accounting software package, you simply said yes and called their vendor sight unseen. Next thing you know, you’ve got an implementation that feels like dancing with an octopus and the hefty bills to pay for your error.
So what went wrong? Company XYZ may be top of the line, and they may have chosen a great software vendor … for their own needs. Your financial accounting needs may be quite different from theirs. Perhaps you serve a different market, or you need different reporting capabilities. Maybe you have an ERP system or a HRMS that must be integrated with the financial accounting suite.
Each company is an individual, with unique needs and requirements. Don’t skip the internal requirements gathering stage or meeting with potential vendors. It’s great to find out which software package another business used and to explore it for your own company, but be sure to compare several software packages and find what works best for you.
Tip #3: Choose accounting software that is flexible and mobile.
With today’s flexible workforce and telecommuting options, as well as the many field sales teams traversing the country, buying a package that works only in the office can lead to frustration. Cloud applications and web-based software are usually a good choice for a growing, dynamic organization.
Cloud and web-based applications offer many advantages. You don’t need to invest in hardware to house them. Most cloud applications and web-based software upgrade automatically, and your monthly license covers typical upgrades. More importantly, it also covers robust security and firewalls to keep unwanted users out of the system.
So think about going for the cloud or mobile ERP software.
ASI: Helping You Make the Right Choice
Accounting Systems, Inc. can help you avoid the pitfalls of choosing an accounting system. We can work with you to select the best software for your unique needs. Contact us to get started.