Not to be considered a small thing, the software helps you automate your business. Having the right technology makes a whole lot of difference for your business – allowing you to do much more than you would without it and with better results and ease of mind. However small your business is, it is important that from the onset, you use the right software to track performance and improve performance.
There are companies that represent software developers locally VAR or produce their own software, SAAS, and offer services to improve the effective usage in organizations. Software as a service is big business as it helps you capitalize on the different technologies available to improve industry efficiency. Resellers and SAAS providers can help you tailor the software to meet your specific need.
There is two broad classification of software – not just accounting software.
1. Vertical Market software; these are specific to an industry and are more expensive and tailored to clients’ needs. They are sold through a VAR who will be able to demonstrate the software, help with installation and training. Costs include the software, license, and maintenance fee and the costs of the services of the reseller. Keep this in mind if you choose to go this route.
2. Horizontal market software; these can be used across different industries and can be tailored to suit different business needs and sizes
Good software helps reduce the inefficiencies that affect small businesses and helps you understand your business performance, right from the onset. From the purchase of raw material to delivery to the end client, good software can help monitor and improve efficiency. You can choose to buy software that is not supported because it has extended usage in a market e.g. QuickBooks and use special software for your industry that is supported by qualified representatives e.g. SAP.
Either way, get software that covers the three key areas of your business; accounts, customer service, and operations. Most software available in the market do this however, some software may be more suitable for your business than others depending on the complexity of operations and industry.
Top 14 Factors To Consider When Choosing Software For Your Business
Below are some factors to consider when choosing software:
1. Your scope of business; Be clear on which tasks you would want to monitor and measure. Ensure the software addresses these aspects.
2. Integration with current software; A software that can integrate with another software reduces the cost of buying other modules or software. If the new software cannot integrate it may require that data is input twice. This should also be considered if you sell online. A system that can interface with online payments has an advantage over one that does not.
3. Capacity; The future needs of your business should also determine the software you get. If the software has no potential for upgrades when you grow then it may work only for a short time after which you would have to reinvest in new software.
4. Inventory; A software that will help you manage inventory helps with better efficiency in product management and reduces pilferages
5. Payroll; if your payroll requirements are integrated into the system this is a great advantage as a separate payroll system for a small business is an extra cost (P.A.Y.E., annual leave, long service leave, etc.).
6. Operations tracking; A system that can track work in progress, orders, jobs, and other task management requirements helps you know where there may be wastage even as it monitors the different aspects of work in progress thus it improves efficiency.
7. Bank Integration; A system that can handle the number of bank accounts
8. Foreign currency; Ability to handle foreign currency especially if you do business in different countries.
9. Tracking; of separate financial records for each business or department within the business
10. CRM; Keeping of detailed records on customers as in a CRM (Customer Relationship Manager system) including what they buy, how often they buy, when they buy etc as this reduces the need to buy a separate CRM.
11. Knowledge; if you have an accountant it may be easy to go with the software that meets your needs and they are trained in. If not, software that is easy to learn and use is best as this reduces the learning time and chances of human error
12. The method of access; there are cloud-based software and those that you install on a computer or network server. If you are always traveling there may need to have software that is accessible over the net or one that is cloud-based. However, accessibility to the internet will be a major factor in this. Internet-based software is best where the staff does not work in the same location.
13. The industry you operate in may also influence the software you get. Some industries may use specific software because it generally meets the industry needs and any specialized staff you get would be familiar with its usage. However, this should not keep you from using other software if they better meet your business needs as it has a unique business model.
14. Budget limitations; this will determine what you actually get and should affect the choice last. This is because the right software, however expensive, will save you a lot of money and heartache in the long-run. Also, consider that software licenses vary with the number of users and period
Choosing A VAR Provider
When choosing a VAR, it is so that you get specialist software services in a core area of your business whatever industry you are in. The following are some important things you should look out for when shopping for a VAR provider for your business.
- Avoid One-Stop VAR: A one-stop-shop will not provide the specialist services.
- Staffing: the provider should have enough qualified staff to work on your project and provide other services you may need. Specialists/experts will do the job much faster than less qualified staff.
- The Relationship: Choose a company that is interested in building a relationship. This makes it possible to get and give referrals as well as benefit from their best experts
- Getting the Most from References: As with all professional services ask for references as this will help you analyze the VAR better. Find out if the project they handled was finished on time, to the standard required and if communication between the client team and VAR went smoothly. If possible, have a look at the system they worked on.
- VAR Certifications: The VAR should have the necessary certificates to offer the best services possible.
- Prototype: The VAR should be able to provide or install a prototype using your own data
Like, Comment and Subscribe
