2007 Review of Mid-Range Accounting Systems

Things have indeed changed.

We’ve seen tremendous movement in the software industry over the last 30 years. Even small to midsize businesses have come to realize the advantages of running a solid accounting and financial software product. Features that previously were available only in high-end software products are now available at a fraction of the cost. Today, with the excellent selection of accounting and financial products available, there’s really no excuse for not getting a solid software program that can help your business grow.

But where exactly do you start?

One of the most important things
to consider when choosing a software product is how well it can transition with your business.

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Mid-range financial software fills a special niche in business today. Designed to pick up where entry-level software products leave off, mid-range products can run the gamut from ‘fill-in-the-gap’ functionality to a product that will continue to grow and expand along with your business.

A typical small to midsize business may look to replace its financial software for a variety of reasons. They may need access to more system functionality, more flexibility or more customization. They may need all of those things.

Typically, small to midsize businesses are more conscious of budgeting when considering a software change. While they may need increased functionality, most are not in a position to purchase high-end software that requires a large financial investment. Feature overload is another factor that has to be considered. Enterprise-level software often contains numerous features that large companies desire and often require. Those same features, coveted by larger companies, will often go unused in smaller companies. While there are numerous things to consider when purchasing software, we narrowed our focus down to the following six areas:

Ease of Use/Transaction Entry
Ease of use is totally subjective and may be the most difficult category to pin down. What’s comfortable for me may not be comfortable for another end user. That’s why visits to the vendor’s websites and demo downloads are important. Transaction entry looks at data-entry screens, real-time versus batch processing, and how easy (or not) it is to process a simple transaction.

Modules & Notable Features
What modules are included with the software? What additional modules are available? What makes this software stand out from the competition, if anything?

Integration/Import/Export
Do all of the modules work together? What other products will integrate with the software? Can you easily import or export data?

Reporting
Reporting is an important category to consider when upgrading software. Many businesses upgrade their software solely on the fact that they need more sophisticated reporting capabilities.

Support/Training/Help System
This is another area that is difficult to gauge, particularly the area of support. I can tell you about the various options available, but support quality is truly determined when it’s needed.

Relative Value
The relative value is measured not just in software cost but in what a product offers in long-term value, as well.

As we move through 2007, the face of traditional accounting software continues to evolve as software vendors re-evaluate their products as well as what the typical consumer wants. Flexibility, customization and even software deployment choices have increased as more software vendors are offering web-based software on a subscription basis, rather than desktop editions. Some give consumers a choice; offering both desktop and web-based deployment.

And that’s what this review is about. Choices. What’s yours? 

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