Is it time to evaluate new accounting packages?
How do you know when it’s time to reevaluate the market for accounting packages? If you’re experiencing more than a few of the following pains, it just might be time to contemplate a change.
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- The costs and resources required to operate and maintain your on-premises hardware and software continue to increase relentlessly
- Overworked staff are compensating for technology that cannot accommodate growth or adapt to business change
- Reduced productivity and user satisfaction
- Lack of real-time access to financial data
- Challenges integrating multiple locations, business units, or currencies due to growth and expansion
Define your functional requirements
Before you evaluate accounting packages, start by defining your functional requirements—particularly the ability to support your organization’s financial processes and deliver valuable business insights.
Assess your technical and operational requirements
Next, start thinking about different application architectures, so you can determine which is the best fit for your business. Cloud-based accounting packages can help lower IT costs, reduce technology risks, increase productivity, and improve business insight.
Conduct a thorough evaluation
After you’ve listed your key requirements and learned which software architecture works best for your organization, it’s time to actually evaluate the accounting packages. Assess the functions. Consider usability. Which solution can grow with your business? What do the analysts and experts say? Be sure to get user references and recommendations.
Identify ROI opportunities
Did you know that cloud-based accounting systems achieve an average annual return on investment (ROI) of 75-500 percent? That value comes from three areas: business visibility, revenue gains, and cost savings.
When you are ready to evaluate new accounting packages, consider Sage Intacct, the cloud financial management solution rated No. 1 in customer satisfaction and the only cloud accounting solution recommended by the AICPA. Contact us today.