The cloud has revolutionized the way we look at software selection for accounting software (got to love those numbers). Not so long ago, companies sourced out a system that was all-in-one (a suite). One software, trying to meet all the demands of your company.
With the help of the cloud (because integrations in the cloud are much easier), we have entered into the best of class world; “There’s an app for that!” has taken on a whole new meaning. The cloud has given us freedom to add-on functionality and automation. And most of these add-ons aren’t trying to do it all. Rather, they do one thing very well, hence the term “best of class.”
Best of class refers to being able to choose an accounting package that best fits each part of your business. Let’s say you’re using QuickBooks Online – it’s pretty basic when it comes to inventory tracking, time tracking and reporting. Plus, it’s light on customer relationship management (CRM). That’s where best of class comes in play. Within QuickBooks, you are able to go integrate an app that best fits your needs to add that functionality. You could choose Salesforce for your CRM, Unify for your inventory, T-Sheets for time tracking and/or Fathom for reporting. Each of these applications focuses on their specific uses and tries to be the best in class.
*Note: We are not promoting any of these programs, this is simply an example of options available.
But, there is some resistance to this change, so let’s try to clear the air.
But my old software makes life easier…
Yes, the all in one programs are handy. They give you all of your information, in one central location. And if you’ve been using the program for a while, you’re probably pretty acquainted with using it. You know what to enter, where to enter it and what kind of output you will get. What you may not realize is being in the cloud could make life even easier. Sure there will be a learning curve, but if the cloud makes your life even easier, this new way of doing things might not be so bad.
But these new options don’t have everything all in one…
When you opt to move into the new world of accounting software, you’re often faced with choices for each function, rather than all being included in one program. This can seem annoying and unnecessary when you’re used to everything being ready and available all in one place. But the truth is, you’re opening your business up to options that fit each function perfectly, rather than trying to make a one-size-fits-all program fit your business. Your business is unique, and the programs you have in place to run it should be too.
So, I can tailor my selections to match my business?
Yes! When you step away from the all in one system and start seeking out new programs and applications that are available, you are able to find solutions to fit the exact needs of your business. For example, your old software may have had everything all in one place (think accounts receivable, accounts payable, inventory, time tracking, payroll, human resources, etc.). However, maybe it’s not great from a time tracking perspective or an inventory tracking perspective. That’s where these best of class applications come in. You are able to choose a specific app to fit your needs whether it be inventory, time and employees, storing documents, and more.
How do I make it all come together?
These cloud based systems can be integrated in the virtual ecosystem and can be managed and accessed virtually anywhere. When you choose programs that best fit each part of your business function, rather than using a cookie cutter approach, you can integrate the pieces together to make sure your business is running as smoothly as possible; not to mention automation so you are able to work on your business.
At the end of the day…
We’re not trying to persuade you one way or the other. We are, however, letting you know there are more options available for your business than meets the eye. You want what’s best for your business, and finding the right mix of accounting software and applications can help keep your business in tip top shape.