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Although when it comes to making a decision it is important to buy a package which can do what your business wants there are also important questions you need to bear in mind when it comes to your final choice of vendor.
For a growing business perhaps the most vital questions is whether your vendor provides a migration path and upgrades which will match the needs of your business as it gets bigger. There are also other factors. For instance, how committed are they to the market and how long have they been servicing your market? How established is the product in the market and how long will they support the product for?
With regard to your business, the most important deciding factor is what you think your business will need the software to do over the coming years. If you're planning to do any sort of e-business you must factor in your web trading activity when choosing an accountancy package. This could include reconciling online orders with your sales ledger or handling currency exchanges when trading with international customers. Or, if you want to invoice via the web, consider whether you would benefit from transaction e-mail, known as 'T-mail' that is now offered by suppliers such as Sage.
Whether you're going online or not take a close look at five main issues: software licenses, customisation, hardware, consultancy and training of staff. All of these are as much about logistics as they are about price. They force a business to get down to the nitty-gritty of what product will be the best fit. For example, who do you want to have access to the software? Is it just a tool for the accounts department or do you want some of your managers to have access too?
Again when it comes to making your final choice, the most common advice from suppliers and end-users alike is to err on the side of caution. Steve Fraser, a director of Monahans Chartered Accountants says: "Don't run before you can walk. You're better off to have less and build on it. Keep an eye on what updates are available."
So take care to pick a package that you can upgrade over time rather than one offering all manner of bells and whistles that you may never need.
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