Are you a small business owner seeking a financial management solution?
If you’ve had the same bookkeeping company for a while, you might not trust their advice on handling your finances. Instead, consider relying on their expertise to find the best small business financial management software.
If your bookkeeper seems open, have them recommend some choices as you read on. You might spot something that fits your budget, needs, or both. You can always change the software in a few years if you don’t like what you can’t now, too.
Of course, you can rely on our recommendations, too. Read on to learn more!
Assess Your Business Needs
Start by listing what you need to test and the features and specifications you need. Consider the number of users your software should accommodate—the applications and reports you need to integrate.
Also, if you need any hardware or software identification, determine how much money you’re willing to spend on the software.
Evaluate Software Features
Make sure the software offers the functionalities you need—such functionalities as payroll and accounts payable/receivable (A/P & A/R). Ask if more features may be helpful.
The software should include features that help streamline financial processes and account reconciliations. Finally, ensure the software is secure and compliant with industry regulations.
Consider Software Price Point
It is important to evaluate the cost against the amount of value it provides. It would help if you considered the software’s total ownership cost. It includes the initial sale price, implementation costs, and training costs. It also includes ongoing maintenance and support. For example, you should determine whether the NetSuite ERP price includes all the functionality necessary to support your needs.
Lastly, you should verify if the software vendor provides frequent upgrades. Suppose there are discounts available for larger purchases or yearly subscriptions.
Look at User Reviews
User reviews will provide insight into what features the software offers. It will give an overview of the user-friendly interface. You will also know how helpful and responsive the customer support team is.
User reviews can also help reveal any significant issues with the software. It can help illustrate the potential pros and cons of selecting a particular piece of software.
Test the Software
Once you’ve narrowed down the selections, you should test each one. It will ensure it meets your expected requirements. This includes testing the user interface and integration with existing accounting software.
Responsive Customer Service
Assess the level of customer service of a particular software package. Do their customer service agents respond quickly to inquiries? Do they provide knowledgeable help and have a history of helping their customers?
Further, evaluating customer feedback can provide insight into how reliable customer service is. Consider reaching out to a few current software users. Inquire about their customer service experience with the brand.
Also, consider a software package with a “free trial” option. It will give you a better understanding of the customer service experience.
Choosing the Right Business Financial Management Software Today
Small business financial management software can be the key to streamlining your business’s finances. With the right software, you can access detailed and up-to-date financial information in one place. It allows you to analyze and plan your finances more effectively.
With the information provided in this guide, you should be able to find the best fit for your business. Try a free trial of a few solutions to determine the best fit and start managing your business finances effectively!
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