How to Start the Accounting Software Evaluation Process

The first step to evaluate a new financial accounting software solution is to determine your organization's highest priority for the Finance team. To help get you started, The Resource Group has mapped out the journey for selecting both the right accounting software package and the Partner to implement and support you.

3 Common Reasons Organizations Start to Look for New Accounting Software Solution

Our clients have shared that their main drivers for starting the evaluation process were related to the three core reasons: Outdated Accounting System, Lack of Data Visibility and their most critical Business Apps are not Integrated.

1. Outdated Accounting Software System

  • Outgrowing QuickBooks or other entry-level accounting software
  • Legacy or expiring accounting software
  • On-premises or server-based software
  • Not true cloud. Not Agile

2. Insufficient Data Visibility

  • Lack of reporting reliability
  • Too many spreadsheets
  • Manual processes
  • Double entry into multiple systems

3. Business Apps Not Integrated

  • Disparate systems
  • Version control
  • Tribal knowledge
  • Lack of API

Start Your Accounting Software Search

You've Decided You Need New Accounting Software, Now What?

When you have come to the realization you need new accounting software (financial management software), of course you have taken to the Internet to learn more about all the solutions available today. Visiting G2 Crowd and other reliable sources that rank the top accounting software packages in the market. There will be a point in time when you will want to engage a professional firm/vendor/partner to help you through this process.

Depending on which accounting software package you are evaluating, you typically have two options to consider:

  1. Working with an Authorized Partner: engage with a Partner who both sells and implements the software package you are interested in pursuing. A positive side of the Partner is a more personalized touch for your organization and they are often there throughout the entire life cycle of your solution.
     
  2. Engaging the Vendor: most vendors (not all) will also do direct selling of their accounting software solution. This option can and has worked well for many, but our opinion is it is less personalized account management and we often find the organizations seeking out a Partner later in the life cycle of the software for extra services and support.

Get Your Team Ready for the Journey

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When you are ready to start the evaluation, get your team ready and on-board. Follow these simple steps to ensure success:

  • Develop a list of features and functionality into a "Must-have versus Nice-to-have requirements. This will give you an easy way to evaluate the accounting software package.
     
  • Draw out what your technology stack will look like internally when this project is complete. What solutions or Apps need to talk to one another? A goal should be that implementing a new accounting software solution reduces your time spent in different systems and gives your organization data visibility to make fast, confident decisions.
     
  • Map out what success looks like when this is all said and done. Selecting a new accounting software package will take time and effort from your team. In order to see the results you wanted, show your team and future Partner what success looks like. That way everyone knows the vision of this engagement.

Having these identified early will help you and your team quickly identify front runner accounting software solutions and Partners

It is also important to understand who and how your decision process will be made. This will help you streamline the selection process of your new accounting software package and get ready to be in implementation mode and going live in no time.


Start the Accounting Software Selection Process

Let us help you with your accounting software evaluation process. Complete this form and we will contact you to start the journey:

Why The Resource Group

The Resource Group has been a Partner of both Sage Intacct and Microsoft Dynamics GP accounting software solutions for many years and helped over 500 companies with their selection, implementation, training and on-going support and services of their accounting software solution. Our high customer retention rating proves we are there to take care of our customers through the entire life-cycle of the product.

Why The Resource Group Seattle

Our Proven Accounting Software Process

Download our infographic that takes you through the Accounting Software Selection Process.

Accounting Software Selection Process Seattle

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Best Practices for Selecting an ERP Software Solution

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