Wednesday, October 22, 2008

Selecting a new accounting system

When selecting a new accounting system, a Clever Company will use a structured process to ensure the new software will work in its business. If you fail to do this, the result may be an association with a software vendor that is not only time consuming and frustrating – but also potentially very costly.

You’ll need to be able to identify any one of a number of 'indicator' signs that your system may need to be replaced.

These include:
  • The length of time your current system has been used. As a general rule (assuming you’ve had no upgrades), software needs to be replaced about every seven years. Because computer technology advances rapidly, systems older than seven years are often built to an old design that may prevent your business operating efficiently in today’s market.
  • The use of spreadsheets or databases to produce information. Many companies overcome software deficiencies by using other packages to format or produce the information they require to manage their business.
  • Linked to the point above, the inability to produce timely information.
  • Frequent requests, from users, for additional information.
  • A large number of customizations in the software.
  • Changes to the size, structure or operations of the business since the current system was implemented.
A key decision when considering replacement software is to weigh up the functionality, you’d like to see in the software, with your budget and sophistication of your organization.

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