Factors to consider when choosing accounting software

The relationship between technology and business has evolved to the point that any IT-related issue can be a critical decision that requires thorough consideration. Financial management applications especially have become the lifeblood of many companies: they can “make or break” businesses. If the wrong software is in place, whether it is wrong because it is not good enough or because it is not suitable for your business, there is a high chance that one or all of the following will occur:

  • The finance and IT departments spend more resources fixing the work the software is supposed to do.
  • Finance staff are not empowered to bring strategic value to the business.
  • Other applications need to be deployed to cover the lack of functionality, causing integration problems and information chaos.
  • Data is outdated by the time it reaches management.
  • The company has to go through the whole process of buying a new accounting solution because the old one has been outgrown.

To prevent this nightmare, companies should take extreme caution at the evaluation stage. Read the whitepaper "Factors to consider when choosing accounting software" to understand more about factors relating to their own business, then the software, and finally the vendor.