With 2016 touted as the year when businesses will be widely embracing technology solutions, accounting firms across the country could be retiring the trusty spreadsheet in favour of more sophisticated software. For those already using accounting software solutions, this period marks the perfect opportunity to consider whether your solution is performing as well as it should.
We understand that selecting a software solution is by no means an easy process. It requires a lot of investment of both money and time to find the right system for your business, and once implemented it’s not a decision that can easily be reversed if something goes wrong. The decision making process and the factors you consider when making that decision are therefore crucial.
One of the main problems that leads to the wrong decision being made is the widespread tendency to put too much focus on price, at the expense of functionality and support. There is an automatic propensity among so many businesses to consider price as the most important factor. No one likes to pay over the odds and picking the cheapest option seems prudent. However, more often than not this is a false economy. Cheaper platforms are often inflexible, difficult to use and not updated as regularly as they should be, making life seriously hard for you and your employees and potentially compromising the quality of your service. The process often becomes a race to the bottom, encouraging software vendors to strip out add-ons like support packages. While, at the time, this means the software appears cheaper, in the long term it becomes a false economy as your employees end up spending more time requesting support tickets than they do looking after your clients.
In contrast, the right accounting software solution can deliver incredible benefits for your business. Whether it’s helping you to stay compliant, making you more attractive to new recruits or even enabling your business to meet its growth objectives, it can be well worth the investment. In order to guide you through the process of selecting the right accounting software, we’ve compiled a list of six considerations using our expert knowledge of the industry. While price is still important, there are five other essential issues we believe you should take into account when evaluating providers, to ensure that you make the right decision and don’t encounter any unpleasant surprises later on.
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