As your business grows, you will get to a stage where you realise that your current accounting software system simply does not have the capabilities to deal with your business needs.
As the number of your transactions increases and grow ever more complex, involving different vendors, suppliers and types of financial transaction, you need to make sure that you have a robust accounting system that can handle everything you throw at it.
What do you Need Out of an Accounting Software System?
You already know that your existing accounting software system is no longer satisfying your requirements, and that you need something more; but before you begin looking for a replacement, you need to outline exactly what’s missing and what the ideal accounting software system will provide.
Choose Your Vendor Wisely
Smaller businesses will typically use price as their primary indicator when choosing an accounting software package. Now that you’ve are aware how easy it is for your business to outgrow your accounting system, you probably realise that functionality and scalability will be far more important to you than finding the least expensive option. An accounting system that provides room for future growth is definitely the way to go.
Prepare your Users for the Transition
The more you plan and prepare, the smoother the transition will be. Avoid making a switch during critical or particularly busy periods, such as quarterly or year-end closings, and train all end users before you deploy your new accounting software system.
Get Customers and Partners Ready
Many businesses seek to improve collaboration and communication by sharing financial information with customers, vendors, and other business partners. If you plan to make your new accounting software system accessible to outside constituents (for example, to allow vendors to update the status of open purchase orders, or to allow clients to check invoices or pay bills), then be sure to bring them on board before you roll out the application. Their feedback may be quite valuable, and help you make the best possible selection.
Good luck! If you find yourself stuck or have any questions then please don’t hesitate to get in touch and one of our friendly team will be able to point you in the right direction.