Which Accounting Software Solutions Are Not Cutting Muster

There are some accounting software solutions on the market that are simply not making the grade, and consumers unfamiliar with the buying process often make the mistake of selecting poor accounting software solutions.  It’s easy to be enticed by fancy features if you are new to accounting software solutions and don’t recognize the fatal flaws they can hold. Many people get caught up in terminology used to describe a product and assume it must be ideally suited to their needs. Oftentimes, it’s just skillful marketing, and the product falls short.

What to Look For in Accounting Software Solutions

Companies of all sizes and industries have a lot more in common than they often realize. When looking at accounting software solutions, consider one that’s well proven and used by thousands of businesses in a variety of industries. Consider stable accounting software solutions that have been thoroughly tested and as close to bug free as you can get. Be sure to get one that has top programming language so you can be sure the underlying technology is good. You’ll want to run it on a top database that offers good performance and choose a knowledgeable vendor that offers good support from local resellers.

Accounting software solutions should also offer strong financial reporting with such built-ins from Excel, FRx and links to Crystal that offer analytical reports. Make sure the solution offers features and modules with a positive future outlook. Lastly, consider accounting software solutions that can be tailored to fit your unique needs and offers good customization tools.

What CEOs want in their Accounting Software Solutions

CEOs tend to want all-purpose solutions instead of vertical solutions by an average margin of eight to one because most have been burned in the past from a vertical solution choice. Most repeat CEO shoppers said they would never think of buying a vertical solution again after realizing they had fallen into the trap. CEOs want an all-purpose solution after realizing they don’t need a vertical market product that is marketed specifically for their industry. One executive interviewed spent $180,000 on an accounting system that was designed specifically for his industry only to realize the DOS-based solution was inadequate, weak, and featureless.

Wading Through the Options:  Vertical vs. All-Purpose Accounting Software Solutions

Vertical solutions are designed to meet specific needs of your particular business, such as churches, restaurants, contractors or governmental situations. Most people tend to lean toward the vertical solution and then realize too late what a big mistake they made because there are over 3,000 vertical market solutions to choose from. If you use this simple checklist you can eliminate most all vertical solutions because they are not trusted and proven like all-purpose solutions.

Most vertical solutions are written in outdated languages and have pathetic financial reporting. There’s no local support and often have no customization capabilities therefore they are not stable or backed by companies that have a strong future ahead. Comprehensive, all-purpose accounting software solutions refer to those products that meet the needs of a wide variety of businesses and industries. There are about 500 all-purpose solutions on the market currently, so it’s easy to see why you can get confused, especially when these solutions target the different markets from entry to mid-level companies up to the high-end tier one companies.

It’s so easy to get confused with such a huge variety of accounting software solutions on the market today, and since there are thousands of vertical solutions offered, they tend to be the ones most frequently chosen. The vertical solution is nearly always the wrong way to lean; and with the high level of complaints revolving around them, you are better off choosing comprehensive all-purpose accounting software solutions and use the checklist to choose one correctly.