Eight rules for investing in a new accounting system
A good financial and accounting system should move your business forward with specific insights to spot issues ahead, maximize resources through streamlined processes and navigate business challenges. It should turn information into insights, and give your employees access to make informed decisions.
Despite vendor claims, many accounting systems do just the opposite. They tie you down, restrict your progress, and make you change the way you operate on a daily basis. Accounting software is a strategic investment and before you embark on a search for the right solution, you need to know what to look for--and more importantly--what to look out for.
This informative whitepaper provides guidance on how to select the right software for your needs, and provides an overview of critically important characteristics you need to evaluate, including:
- System design
- Business insights
- Ratios and key performance indicators
- Accounting standards
- Internal controls
- Multi-entity organization integration
- Multiple currencies and standards coverage
- Information access