7 Things to Consider Before Buying any Accounting Software

Software is not just a one-time investment for a small business. Entrepreneurs need to consider a lot of things before buying any tool. On average, a small business spends at least 6.4% of its revenue on IT tools. So buying software impulsively is not possible. It’s a calculated move depending on the type of budget you have.

Despite the budget, how does one decide what software is the right choice? Whether you are looking to create new software or likely to invest in a subscription plan, consider these 7 factors before buying CRM software for accountants.

1. What is the Cost and Value of the Accounting Software?

Pricing is one of the most crucial factors in buying decisions. However, it’s not the only factor contributing to its influence. Buying a CRM software based on just pricing details shows little value to the business.

An expensive software does not necessarily guarantee a valuable contribution to the business. What may work for other businesses may not work for your business. So purchasing the most expensive software is not the goal - and should not be. Always begin with be most basic budget. That way you can focus on if the software has “must-have” features within the price range.

Or make another list of software for accountants with a “nice to have” and a “don’t need” feature. Categorizing the business needs will help you understand which features you are looking for in accounting software.

Always look out for the types of software that do not offer growth to your business. Focus on the business plan and long-term and short-term goals and see how the software of your liking plays the role within that time span.

2. Do you Need Assistance Using the Software?

Accounting jobs required focus and hours of work. Using the accounting software will ease the workload on accountants. The software you choose must be easy to adapt and understand. Choosing a complex dashboard will not only confuse the employees but also slow down productivity.

It’s best to research the potential CRM for accountants that offers ease of use with high usage features. QuickBooks, My CPA Dashboard, and Wave, etc. are some of the easiest to adopt accounting software available online.

If complex software is needed then make sure the resources and assistance are also available. An assisted implementation will give employees the confidence to learn and use the accounting software or otherwise they will remain to resist the idea.

3. Can Software Fix the Bugs?

Every technology faces some errors and issues at one point. So it is expected that accounting software has bugs too. When you purchase the subscription plan for any CRM for CPAs, make sure that fixing bugs is mentioned on their official website.

Skim the website carefully to understand how they will fix the issues and problems that may exist in the software.

Customer reviews are the best way to research this problem. Or visit the listing websites like Clutch, G2, or Capterra. It will give you a clear insight about company how it is resolving the bugs and other issues.

4. How Often do they Offer Push Updates?

Some of the best accounting software updates their products continually. When looking for the software, ask the vendors about how often they offer the push update. Also, ask how those push updates are communicated to the user.

It is important to note that the product you end up choosing may be restricted due to the pricing plan. The product status is important to be reviewed. If a limited number of push updates are provided only, it may affect your business otherwise.

5. Does the Software Offer Customization?

The idea of customization is appealing to the user. In reality, it is a lot more complicated. Not every accounting software offers customizable features either. When it comes to choosing the accounting software, customizable features are the biggest tradeoff

The more customized features are available, the higher the CRM price will be. However, even a simple and easy-to-use dashboard may also have a high price. Software that does not offer the high customization is limited to possible updates in the future to meet your business needs. So it can be difficult to use such software for accountants in the long run.

You have to keep an eye on the software usage sophistication as well. During a trial period, you can easily identify such factors.

6. Does the Software Offer Support?

A small IT team working in the backend and complex accounting software in hand can create trouble. The question is what kind of support is provided by the vendors?

The support hours of vendors must be considered as well. Support hours do not mean the time frame of getting the support. It means how much support is available in lesser time. Does the vendor offer phone support or just support via email or chat?

Also, ask the important question “what is the estimated time for a request?” the support department must be available to the user at the hour of need.

7. Does Your Software Offer High Security?

Most of the financial data is stored online. It is crucial for the vendors to understand the sensitivity of the client’s data. When reviewing the CRM for CPAs, also double your efforts to search about the level of security being offered.

The privacy policy will help you find the information you require before purchasing accounting software. It outlines important information about users and their data and how the data will be used or stored by the software. Go through the terms and conditions too. By keeping these details in mind you can understand the type of security being offered and in case a breach occurs how the vendors will respond to it.

Also, have the compliance officer review the security details about the software.

For more tips and understanding you can always search Google and go through the websites to have a better understanding of the workings of the accounting software. Or simply start by making a list as we suggested earlier.