Accounting Software: Many Options, But Only One Real Choice
If you’re considering replacing your accounting software, then perhaps you’ve been experiencing any number of the following:
- Difficulty in reporting
- Reliance on inefficient manual processes
- Over-reliance on spreadsheets
- Inability to properly service multiple locations
- Inaccessibility to real-time data
For years, we’ve hammered out time-consuming reports derived from manually processed data. We’ve known Excel and those spreadsheets as our friend. We’ve managed to simply get by and service multiple locations; and real-time data accessibility was a dream.
If any part of that sounds familiar, perhaps it’s time for a change.
A 2-Pronged Approach: Evaluating Your Current System and Viewing from Your CFO’s Perspective
Regardless of what you ultimately decide, you will have arrived at that decision after having first evaluated your current system. Essentially, you’re asking “What needs does my SMB have that are no longer being met?” Has company and business growth brought about new obstacles: difficulty reporting, too much reliance on old, manual processes, the need to service multiple locales, a greater need for real-time data, now more than ever? Even if you’ve determined that implementation of new accounting software is necessary, you still have options at this point. Perhaps you’ll stay at the same level and implement something slight different; or, you’ve measured your growth and confirmed that it’s time for a step up. Ultimately, once you’ve done your homework by evaluating your current system, defined both short and long term goals, and consulted outside experts, you’ll be in a position to make a better, more informed decision.
From a CFO’s perspective, the accounting software will be evaluated to determine if the following are being accomplished:
- Financial processes are increasing overall productivity. To determine this, the CFO will have to discern and see how finance and accounting hours are actually allocated. How much, or how heavily, do the financial processes actually rely on manually driven processes and Excel?
- The financial processes currently in place are paving the way and facilitating better and even faster decisions. If that’s not happening, then ask if how much of the information is available and accessible in real-time? If it’s not all available in real-time, then where’s the log-jam? Where’s the bottleneck?
- Resources are properly focused on the core of your business. If they’re not, then evaluate and determine what is critical and absolutely necessary for your business to properly function. Then ask, where can you trim and cut out the excess and waste?
By performing an honest, objective evaluation and examining your financial operations through your CFO’s eyes, you’ll concede the need for the most efficient implementation of accounting software.
Need to evaluate your accounting software in greater detail? Register for Intacct’s On-Demand Webinar and learn why hundreds of leading companies like yours have also made the move to the cloud for their financial management and accounting applications with Intacct.
Dip your toe in the accounting software evaluation pool. Contact Alta Vista Technology and we can help implement the system that works best for you.