Accounting software comparison

Accounting software comparison

10 pitfalls when performing an accounting software comparison

Below you find a list of ten potential pitfalls you should avoid when making your accounting software comparison.

  • Buy software at the golf club. Buying accounting software from a friend at the golf club is probably not a good idea. You should at least involve the employees, who’ll actually use the new system in the selection process. This will boost acceptance and motivate to use the new application.
  • “Will be available in the next release”. Don’t buy financial software from the supplier who promises the features you require will be available in the next release. First, you’ll have to wait and see if the next release contains the capabilities promised. Second, you can be sure you’ll be the guinea pig to test the new features and get them bug free.
  • The art of seduction. When your demands are high and the required budget rises accordingly, suppliers might try to seduce you with expensive diners, trips and gifts. Stay focused on your accounting software requirements and the level of service the vendor can provide.
  • Standard demonstration. The demo version is the version you don’t want to see. It only shows the strengths of the application and smoothly covers it weaknesses. Demand a tailored demonstration based on your specific business case. This gives you the best idea about the fit of the solution under scrutiny.
  • Shortcomings of your current financial solution. The need to replace your current financial system is probably fueled by its shortcomings. Analyze these shortcomings and make sure the new application will solve these issues, instead of implementing the same workarounds as before.
  • “Nice to haves”. It is an open door and it is applicable to every buying process. So, it is also applicable for your accounting software comparison: make sure to focus on the “need to haves” instead of the “nice to haves”.
  • Excel will solve it. Despite the flexibility and possibilities of Excel, the financial system should provide the data, overviews and reports needed. It will save you time for sure!
  • Integration with other systems. The new accounting system will be a part of a larger IT infrastructure. Data exchange between the different applications seems obvious. Make sure the new system is open and supports the conventional formats for integration, like XML and Web Services.
  • Migration. Make sure migration of data from your current system is possible. And make sure this migration is part of the deal you make with your new supplier.
  • Implementation. The same applies for implementation of the software. A common rule of thumb is: as the software becomes more expensive the implementation cost will rise at least at the same rate. Make sure a clear implementation plan, including time tables and costs are part of the contract you negotiate.

When you take these pitfalls into account when making your accounting software comparison, Select is convinced it will improve your buying process and lead to the best choice.