Let’s face it. Buying accounting software is a tedious process. After all, who enjoys reading endless marketing literature, talking to salesmen, watching Web demos or delving into the endless complexities of how a given software product works?
The truth is, it’s not the software evaluation itself that’s the problem. The real issue is that most people don’t know what they’re looking for so frustration and impatience sets in. And you know what happens next? A person or company ultimately makes a decision just to get the project out of the way and be done with it.
But like anything else, this does not solve the problem, it only postpones it. Because when the software is installed and doesn’t work as expected, a company is left with an investment with little or no return.
A favorite saying of mine is this: When you don’t know where you are going, any road will take you there. Here is a simple, real-life example of what can happen when you take this “any road” approach when selecting software:
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As you make your way through the software selection process, consider the following as part of your selection criteria:
• Industry Focus—Vet accounting software that plays well in your industry. Some accounting solutions are industry-specific. Other applications are global enough to spread over many industries. Regardless of the solution’s narrow or wide industry net, just make sure it has a positive track record in your arena;
• Company Expansion—Look for accounting solutions that can easily accommodate maximum anticipated expansion—both in terms of employees and locations;
• Inter-application Integration—Examine ability of the accounting software to interact seamlessly and reliably with other applications, such as CRM and ERP applications—to establish a smooth supply chain flow and ready accessibility to many types of reports and data;
• User Familiarity—For example, employees accustomed to using Microsoft Office will adapt most easily to accounting solutions offering that familiar look and feel—as well as a natural interaction between the two;
• Functions Compendium—Buy based on functionality, not just reputation. Popularity doesn’t mean suitability for you. Establish your must-have criteria list before searching for options, and make sure that they will scale up as you grow. Important criteria may include robust account number structure, good drilldown and drill-around capabilities, forward- looking reporting capabilities, reliable system performance, a well-tested Web portal, support for handheld devices, comprehensive customization capabilities, the ability to easily compare data in financial reports, supply chain suitability, and XML enablement.
Paul Farrell, CEO, Wizard Productivity Systems LP; pfarrell@wizardus.com