Choosing the right accounting and payroll package need not be as daunting as many business owners and chief investment officers believe it to be.
According to Ivan Epstein, CEO of Softline: ”It’s all about focusing on matching the product’s functionality with your actual requirements. Look beyond all the bells and whistles of vendors, and invest in a solution that truly fits your company.”
A good accounting package acts as your company’s roadmap — showing you where you’ve come from and where you’re going. ”As such, it’s a means of looking after both your company and your employees, making it imperative that it gives you both a bird’s eye view and an in-depth understanding of what’s happening in your business. One of the best things about today’s software solutions is that they enable this through their seamless integration. They’re able to communicate with other areas of business, giving you access to critical company information when and where you need it,” says Epstein.
Software solutions have become an invaluable tool and enabler of business — no matter the size of the company. In the realm of human resources (HR), for instance, with its more stringent requirements in terms of employment equity, increased complexity means that greater transparency is needed between departments such as HR, payroll and accounting. This transparency is something the right solution can make possible — the key here being finding the right solution.
”In researching various solutions you need to focus on a number of factors, regardless of the size of your business. These include looking at the nature of your company and the functionality and affordability of the solution. It’s not about buying the biggest package with the most ‘nice to haves’, but rather finding the lowest cost solution that meets your actual needs,” Epstein adds.
He describes this as one of the most common mistakes seen in the SME sector today: ”They invest too much in functionality they don’t need and essentially won’t use.”
With so many accounting and payroll solutions to choose from, Epstein says his advice to any would-be buyer is to treat the decision as they would any other important investment.
”Research what’s out there, ask about things you don’t understand and, above all, get the vendor to demonstrate exactly how the product fits your business,” says Epstein. ”Find the right fit for your company and you’ll not only enable your business, but also ensure that your roadmap to future success is an accurate and reliable one.”