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Need help implementing a successful purchase?
Request assistance here.
Accounting Software:
Steps to a Successful Purchase
I. Before the Software Search
A. Set objectives
1.What is the objective of the system? (to reduce staff time, increase
productivity, prepare for an anticipated company growth). Be specific and
detailed!
B. Create a time line
1.End the timeline with the conversion date (usually beginning of a
fiscal year.)
2.Work backwards to determine when software decision needs to be made,
data conversion requirements, etc.
Make sure to budget for staff time to complete these tasks!!
C. Document your company
1. List departments, locations, accounts, sub-accounts for general ledger
2. List company's sales areas, commission structures, etc.
3. Document accounting department's staff and job responsibilities
4. Document purchase needs
5. Document sales needs
6. Document payroll needs
7. Document inventory needs
8. Document industry-specific needs
D. Evaluate multi-user requirements
E. Evaluate current system
1. Prepare a summary of current hardware, software, transaction volume
indicators
2. List features you like
3. List features you don't like
4. List additional features you want/need
Make sure you fairly document your current system!
F. Prepare a needs analysis for each accounting function
1. Generally this is a list of features and their level of importance to
your company. For example:
General Ledger feature:
Multiple open periods. Required/Desired/Not Needed
You'll need this list to compare each software package
later!
G. Evaluate your accounting staff
1. Document each staff member, their responsibilities, their strengths
and weaknesses, their ability to adapt to a new system, their time
commitments, their level of involvement in the selection of the new
system
2.Determine if you need to hire additional permanent or temporary
personnel
The more you involve your staff the more excited they will
be about the change!
II. The Software Search
A. Finding software to evaluate
1. Read Trade Journals
2. Ask others in your industry
3. Ask your accountant or financial advisor
4. Look in telephone book under Accounting and Computers-Software
and Services
5. Attend accounting software events
6. Attend computer industry events
7. Attend accounting events
B. Evaluating software
1. For mid-range (and above) products:
i. Arrange for a presentation
ii. Ask for a demo package
iii. Get referrals in your industry
2. For low-end products:
i. Talk to others
ii. Call company for information
iii. Ask for a user group in your area
C. Compare software features and functionality to your Needs Analysis
III. The Purchase
Things to keep in mind...
Consider a reputable consultant
Your accounting staff makes or breaks a system
The software performance is dependent on having adequate hardware
Make sure you are selecting a package for the long-run, not just for current
needs
Need help implementing a successful purchase?
Request assistance here.
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