Leap the Pond Blog

Choosing the Right Middle-Market Accounting Solution

June 28, 2017
Posted by: David Furth

Category: Software

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intacct accounting softwareNot all accounting software is created equal.  Each is designed for specific targets. In a recent article for Accountex Network I explore this topic. For example, what is good for a small business, where the owner or bookkeeper does the accounting, likely will not be good for a high-growth start-up with more complex accounting requirements. Or what is good for a single-shop retailer may not work well for a project-based services company.

Early in my career, I was very fortunate to have been a purchasing agent. In this role, I learned best practices for sourcing suppliers, developing requirements, evaluating proposals, and making selections. Later in my career, as the head of IT for a Fortune 500 company, I had the opportunity to apply these skills when acquiring software applications, including accounting software. And today, as a Value-Added Reseller (VAR) of a cloud-based accounting software application (Intacct), my role has been reversed – I am no longer a buyer, but a seller.

As a result, I have been involved in both sides of hundreds of software selections. My observation is that many buyers of accounting software could benefit from following a few fundamental best practices for determining which solution will support long-term plans. Here are my 5 best practices to implement in your accounting software search:

  1. Think about the BIG picture
  2. Prioritize requirements
  3. Map out key use cases
  4. Consider the company, not just the product
  5. Get independent reviews

Having a well thought out buying process benefits both the buyer and the seller. While it requires a little extra effort on both sides, after the decision has been made there will be fewer surprises.

To read the full article on Accountex Network, click here.

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