Choosing the right software solution for your company can add significant value to your business through efficiencies and insights gained. However, with the large range of offerings available it can be difficult to discern which system will best serve the unique needs of your company. Here are some key factors to consider when making the choice:
Ease of use Probably one of the most obvious priorities in choosing software is to find a system that is user-friendly. This will not only save time and money spent on training, but will ensure that key information can be extracted quickly in a useable format. Take into account the abilities of your staff, and work with them to understand their needs and wants in using a system.
AccessThe current environment necessitates remote working, and this can pose challenges in accessing systems and information. Choosing a cloud accounting software can overcome difficulties in providing timely and reliable access to information for all staff.
Compatibility & integrationsThe accounting software you choose should be compatible with the systems and software you already have in place in the business, such as Inventory Management or CRM systems. It is also important to consider any future integration needs that may arise as your business changes.
Scope While it can be tempting to invest in a software that purports to meet every need of your business in a single system, careful thought should be given to what you want your system to achieve. Although most accounting systems do offer numerous functions, this is probably less effective than a separate system. Again, it is advisable to check compatibility.
The futureKeep the long term plans of the company in mind when choosing software - changes in size, operations or objectives could compromise the effectiveness of a system. Take account of the scalability and adaptability of software to ensure you are not limited by it later.
It is worth giving extensive thought to the choice of software for your business, as there are clear advantages to be gained, but also an element of risk. Every business has different and specific needs, and we would recommend you seek advice to ensure you get the most out of your accounting system. Feel free to contact us and have a chat to one of our software consultants for extra help on what is best for your situation.
As a sidenote, we will be holding a free live event on the 3rd March at 4PM covering the key points from the upcoming Chancellors budget. Feel free to register here to ensure you're updated with the changes.