6 Things To Consider Before Choosing New Accounting System For Your Business
As new business has just getting started, they could choose to use only low-cost, entry-level accounting system to ensure minimal configuration and training. However, this system is fairly easy to use if we don’t have too many users and the business process is relatively simple. When companies decide to implement more sophisticated business management systems, they may require additional expertise to install, configure, test, operate, maintain and expand the system. Using a new accounting system also requires us to invest time and we should consider additional concerns, such as migrating the existing data and records.
This is where the role of our solution provide can be critical. Solution providers can efficiently transition us from our old system to the new system with minimal downtime. In addition, the solution provider could continue supporting us as our business evolves and grows. Here are a few things to consider before we choose provider for a business accounting system:
- Understand our system and business requirements: A software provider that understands our business process can make it more efficient. We should ask questions, not just about software, but also their skills sets and how they can be used to deploy the application.
- Check their products: We should have good knowledge about products that we choose. This should allow us to ask thoroughly about how the capabilities and functionalities can be implemented in our company. The accounting system should be used to its fullest potential to ensure the growth of our organization.
- Consider alternative products and solutions: Before we conclude our decision and choose an accounting system, we should consider the alternatives. We should know about the expected benefits and returns. With improper and unsuitable systems, we can be trapped into a system that doesn’t work too well. This should also help us to define the reasons why we have eliminated other system from the selection process.
- Make sure we have proven implementation process: We should be able to implement entry-level accounting system, by following the software vendor checklist. However, migrating to a more comprehensive system will require more testing and planning. There are configuration options we can choose to make the system more adaptable to our business process. The approach should cover pilot testing, functional designs, ongoing support, cut-over strategy and data migration planning.
- System cut-over: When our company starts using a business management system, we should make sure that we can establish specific comfort level. This can be achieved anywhere from one month to six months. During this period, the solution provider should still pay attention to us and check whether things are working properly. They will provide any training and additional supports as needed.
- Ongoing support: A company should obtain their first major positive return of the investment in new accounting system within the first 12 months. As our business evolves and grows, we want some assurances that the solution provider always looks after our business. We need to assess tools and modules that can impact on our business.