When it comes to choosing the best accounting business management software for your business, the good news is that in Lahore, you’ve got a number of options. So how do you decide which one will work best for you? The answer really depends upon your business needs.
There are two main types of accounting or business management software’s available to you: locally developed or mature ERP packaged software. While the locally developed options may offer more customizable features, it’s often more risky to both purchase and obtain ongoing support as the developer:
May possible not have the skills and experience to develop business management software which your business depends upon for its survival.
May be a small software house, (less than 20 people) and may close operations at any time.
May be able to actually deliver business management software, but does not have the depth of IT project management experience or skills to actually implement it in your organization.
Mature ERP packaged software generally offer the least risky option for business critical functions like operations, supply chain management and finance because:
You’re buying a product that is already proven to help thousands of organizations around the world to survive and thrive.
Your buying a product from some of the largest software houses in the world, (Microsoft, SAP Ag, Oracle)
Local Partners of Mature ERP packaged software focus upon your business processes and training of your employees to use the software.
To help you choose the best accounting / business management software for your business, here are a few specific things you need to consider while you’re doing your research:
The size of your business. A business that generates Rs50, 000 in sales each day has very different needs than a multimillion-rupee business. If you’re a larger firm, don’t under buy when it comes to software because you’ll only get something that will leave you short from fulfilling your needs.
The industry you’re in. What industry is your business in? Some industries have specialized software you may want to consider purchasing since it’s been designed with your specific needs in mind. Most of the time, industry specific software will be more expensive, but the benefits may outweigh the costs so be sure to do your research before buying anything.
The functionality you need. What functionality do you want within the software? Locally developed software is very basic, having just simple accounting and basic inventory features; Mature ERP packaged software’s are fully integrated and can include such modules as Budgeting, Purchase Order Processing, Sales Order Processing, HR and Payroll, Manufacturing, Project Accounting and so on.
Available support. Purchasing the software is only the first step in the process. It’s important that you have available support, which may include local consultants, internet support, phone support, training options and more.
Ease of use. When it comes to choosing software, this aspect is often overlooked, but it’s one that’s extremely important to take into account. No matter how inexpensive, if it’s too cumbersome or hard to learn, you and your employees will not use it. Keep it simple, stay focused on your business’s needs, and look for those programs that have easy interfaces and offer possible upgrades as your business expands.
Ease of implementation of the new system. Developing software is a vastly different field from having the knowledge and IT project management experience to actually implement the software in an organization. As local developing software house tends to have core competencies in developing and not in IT Project Management it may not have gained sufficient experience in the field
These six aspects should play a critical part in your research and purchase of an accounting / business management software for your business. Remember, it’s important that you find the right tool to assist you in the management of your business, and cost should not be the only critical factor you take into account. It’s more important to find the right fit based upon need of the business and ease of use.
My last piece of advice: It’s easy to get frustrated with any new software package, so be diligent about the implementation of it and know that there’ll be a learning curve. The benefit will be that you’ll have an organized accounting / business management system that can provide quality financial and operational data for you to utilize as you grow your business.