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  When you own a business, there inevitably comes a time when you need to look at replacing your accounting software. For a variety of reasons, the current solution may no longer meet your growing needs, perhaps the software is outdated or no longer supported. The difference between software that only manages your receivables and payables and a solution that gives you meaningful insight into your business requires a thorough investigation of the options available. Often, business owners feel that replacing their accounting software, while necessary, is not pleasant and may even be painful. If you are avoiding replacing your accounting software by taking preventative measures such as fix-its, upgrades, custom solutions, or - what we see most often – so many reports generated outside of the accounting system, then it's safe to say your system is spotty. Or maybe your system is not patchy, but is no longer supported because a major software company decided to take it off the market and introduce something new that costs three times as much? Whatever prompts you to look for new accounting software, it’s easy to make big mistakes. So read on – here are 6 tips when considering new accounting software:

  Take the time to accurately identify the needs of the business and find out how they go beyond the accounting department. Obviously, you want to work similarly to how you have been working, but with an eye toward performance improvements. Define your needs, then decide what you want, and then what your wants might be. The difference between the three should be: NEEDS = CAN NOT LIVE WITHOUT, WANTS = FUNCTIONALITY /PROCESS IMPROVEMENTS and WISHES = ABILITY TO GROW INTO. Give new software vendors a script that documents your business processes, lists the problems you want to solve, and clearly outlines your requirements. Do not be swayed by software bells and whistles that may interfere with your core needs 

 “The fact that everyone else is using this software” should not be a deciding factor in your procurement process. Be open-minded. Do not limit yourself to the most popular system. Take an honest look at all systems. With each system, ask yourself: how many of your needs does it meet? Does it fit within your budget? Is it well supported? Is there a roadmap from the

developer available? Get references from other companies in your industry that are successfully using the software you are considering - sometimes the most popular software is only popular because it has a large marketing budget but a weak development strategy.

 When it’s time to implement a new system, it’s also time to think about how you can improve your business processes. “We’ve always done it that way” is not always the best way to go. Efficiency, productivity and time savings are all ways to improve your accounting department’s bottom line. Be open to implementing new procedures. Sometimes it can be very beneficial to eliminate old procedures and adopt new ways of doing things. Think about what your business needs might be in 5 years, what kind of growth you expect for your business, and whether the new solutions can grow with you. A scalable solution can save you time and money in the future. 

 Of course, the decision makers are the ones who have the final say. But the president doesn’t always decide which checks to write, he just signs them. Involve your accounting department. They are the ones who will be working with the program every day. Highly motivated and knowledgeable staff will help you find the right solution and often shed light on the day-to-day needs in the field. Tasks that manually take up too much time should be considered - ask your staff what they could do for their role and the organization if they had an extra two hours a week. Understanding your staff's needs and their ideas for improving their processes is often not seen at a higher level - take the time to listen and involve your team in the evaluation process. 

  Spending too much time focusing on “the "number of features” of the new system can result in insufficient research by a trusted expert. Who will implement the new system? Having a competent consultant is one thing; having a consultant who will take the time necessary to understand your business and goals is another. The software consultant obviously needs industry knowledge, project management skills and product knowledge, but he or she also needs to be a good listener. The professional you hire for this project must have a genuine interest in providing you with a solution, not just selling you software.

 Smaller software consulting firms may be better able to provide exactly what you need for your particular industry or requirements. It’s more likely that a smaller company will give your business the attention it needs throughout the investigation process. You are not just a number or a customer. With smaller companies, your company’s needs don’t become case numbers, and your company isn’t just “another customer.” 

 Like the grasshopper who strategically took the time to gather properly, take the time to put a solid procurement process in place and your company will reap the rewards. This way, you can ensure that you choose the right accounting software for your business.

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