How to choose the accounting software that best suits your needs?

6 minutes read

How to choose accounting software for the company? What parameters to consider evaluating the best management software? These are the most common questions when it comes time to adopt or change the system for managing accounting. A system whose “health” and effectiveness are necessarily reflected on the entire corporate structure. He weighs the choice well, evaluating the pros and cons of the different solutions to manage the accounting saving on costs and on the useless waste of energy and resources.

Find out how ERP software guarantees you worry-free accounting!

To maintain a fluid and well-orchestrated work rhythm, it is necessary to have fast tools that make the most complex operations simple and automatic. Automating procedures must be one of the main benefits of accounting software. As for this activity, the lung of every company, you need to count on an intuitive system that allows you to maintain full control over financial, administrative and fiscal management. Obviously there are many and complete software solutions that can be integrated, but this plurality paradoxically risks turning into a confusing confusion of acronyms, acronyms and definitions.

How to choose ERP accounting software?

The choice of software can change drastically as we carry out some of the most recurring activities in the office or in the company. In particular, an ERP accounting software automates the more demanding administrative ones transferred and managed in full in a digital environment with countless advantages, including the automation of ordinary and extraordinary procedures; the increase in efficiency and productivity; the reduction of the risk of error; timeliness in processing shareable information in real time; reduction of paper material.

A single question would be enough to make your objectives clear:  What procedures do I want to improve that currently create delays, waste of time and inoperability?

An objective evaluation of the most urgent critical issues, which can be solved by the digitalization of the processes, will serve to lighten the ideas and make a first essential skimming.

Who decides what benefits you need to look for in accounting software?

There are several figures called to evaluate the characteristics and advantages that ERP software must guarantee in order to adapt to a particular context and activity. Among these we can include managerial figures such as the entrepreneur who wants to have greater control over the company; the administrative director who wants to harmonize the various teams; the IT manager responsible for weighing the pros and cons of the various software with technical knowledge. The IT manager certainly has the last word on the most suitable software, the one that summarizes the functionalities that are able to respond to the desired results and resolve the critical issues that have emerged.

When considering the most convenient solutions for the company, also think about what is happening in the technological field. The latest generation ERP software integrates Business Intelligence functions by offering tools to extract and display data that can be integrated together. You can manage everything from dashboards, read customizable granular diagrams, graphs and reports, to be shared in real time. You can set up and monitor relevant KPIs for accounting management; schedule automatic notifications, monitor everything and intervene quickly if necessary, for example when you exceed a predefined budget or when a procedure is not successful.

Accounting software: the pros and cons to evaluate

We have outlined the basic performance that accounting software should guarantee to be truly useful, but our examination is not yet complete. Let’s now pass to a brief excursus of pros and cons to be evaluated among some binary features that concern the ERP software!

1. ERP On-Premise or Cloud-Based?

We got an idea and we have no doubts: Cloud-based ERP software has only pros compared to on-premises software. In addition to being simple to manage, it is also more economical, reliable and efficient.

What are the advantages of a cloud-based platform? Certainly a much easier management and free from the typical maintenance of traditional IT systems which, after the first purchase, request the renewal of licenses and the payment of updates during the year; ordinary and extraordinary maintenance costs; expenses for assistance, for the purchase of servers and / or for adaptation to hardware; IT security support etc. You can avoid all this with a cloud-based system that leads to global savings in terms of costs, time and energy, speed and ease of maintenance.

2. Customized or Pre-Packaged Software?

We come to the pros and cons of a tailored accounting software vs one already ready on the market. It is trivial to point out that obviously bespoke technology has the possibility of profiling the program just as we want it, perfectly responding to the particular business needs. A less positive aspect, however, is the risk of joining a single vendor who could interrupt his business for any reason and leave us without assistance and support. Everything changes … nothing is forever!

On the contrary, a ready-made management offers less “vices” to the team that will have to adapt to its characteristics, being all ready. Despite this, since it is software created to be distributed on the market and accessible on a large scale, it will ensure greater operational safety and a constant form of support and assistance.

3. Accounting Software in Basic Or Premium Packages?

The positive element of the basic package is its accessibility for free, usually. The premium version, on the other hand, is purchased for a fee because it integrates several extra functions. Functions that in many cases is indispensable.

The pro of premium packages, on the other hand, lies in its modular nature. What does modular mean? In essence, it means that you can compose and modify the package according to your needs to make it software tailored to the company size. Is the premium package better? It’s not for sure! Consider whether the scalable paid solution is really the most suitable. Ponder if you really need all those extra features that still cost money. This is why, let’s go back to say, a careful reflection on the skills of an accounting software is a priority.

4. Why Should You Choose A Single And Integrated ERP Cloud Management System?

Since in the company it is not just a matter of managing the accounting and tax system, having to choose ERP Accounting Software solutions in Dubai we advise you to consider an integrated ERP Cloud-Based management system that also includes CRM and e-commerce. In practice, all in a single digital environment, a single database where you can create and consult interconnected and associated data from various sources start automated procedures without manual interventions and without shuttling from one system to another.

ERP software for sleeping soundly

It is essential for a company of any size to work in a fluid context built on perfectly oiled processes, especially when it comes to activities related to complex UAE accounting. If you are still not convinced of the advantages of an ERP software for your company, download our free eBook “Carefree accounting with an ERP software ” and find out in detail how an ERP software helps you manage the company’s accounting in a complete way , in UAE and abroad.