Accounting software for the future

The accounting software market is evolving at a rapid pace and currently presents more options than ever before. Beyond the desktop, cloud computing offers online software applications with propositions that shouldn`t be ignored.

Of course, there are a host of desktop/Web combinations that are available and don`t forget about the integration possibilities of the smartphone.

But with so many options available, how can a business owner know what is best for them? I suggest that you approach any future buying decisions strategically.

When I talk to the users of our products, a vast majority only use their accounting software for record keeping. This surprises me as one would think that in today`s competitive, knowledge-based economy, business owners and managers would use their systems to analyse and understand the business instead of just submitting tax returns and printing customer statements.

I`m not saying that systems will ever `drive` a business; human skill will always do that. But if all its functionality is used, an accounting system can provide valuable information to support the decision-making process and provide the much-needed competitive edge.

So, as the technology options for accounting software grow, I extend the challenge to business owners; before adopting any new accounting software, it`s essential to know what is necessary to run your business more effectively and efficiently.

Once the strategy is clear, then assess the technologies that are available to help deliver that vision.

Some guidelines to consider when choosing new software include assessing the manpower available to operate the system. I say this because time and again, I see business owners buying great technology only to find that their staff doesn`t have the technical or analytical skills to use the product.

Also remember that while this new technology is exciting, it may not deliver any value to the business. So, if you have a mobile sales force, then smartphone integration is probably really valuable. But if your sales force is office bound, don`t waste your time or money.

Accounting in the cloud (Internet) is also a great idea, but remember that many systems (and Pastel MyBusiness Online is probably one of the finest out there) aren`t as feature-rich as their desktop equivalents, although they are catching up quickly.

I have said it before and I will say it again; accounting software can and should be the hub of every business.

With this in mind, I encourage all business owners to make future accounting package purchases in the same way all business decisions are made; strategically and with the success of the business at the core.