Since the days of the Enron scandal, organizations have been relying even more heavily on accounting software tools that enable faster implementations, better information access and smarter decision making by their accounting department and CFO (sorry Andy Fastow of Enron). The most current practice in the accounting field is to use state of the art accounting software that is backed by a solutions provider who provides expertise with CPA's and IT professionals on staff who support their client's accounting software, offering personalized solutions to unique business challenges.
Plenty of industries benefit from having an accounting software program that streamlines their bookkeeping process. Governments, Healthcare, Manufacturing, Agricultural, Energy and Insurance organizations are just a few of the many businesses that have reaped the benefits of using accounting software programs that are tailored to their challenges and individual company needs. Today's savvy and efficient accounting professionals have sought out solutions that are easily upgradeable to make doing the accounting and taxes a breeze - and keep up to date information right at their fingertips.
Just how do you know if your software is the best possible fit for your organization's needs?
There are a few simple assessments to learn if your current software program supports financial integrity and is the best possible fit for your business needs.
-> First things first - Identify the problem.
-> Next, evaluate standing internal procedures and controls.
Things to ask your Accounting and IT team:
1. Does the technology provide us with the core infrastructure to support and strengthen our internal controls?
2. Is the functionality available to support the implementation of an Audit Information System?
3. Can the software support closed loop reporting to monitor our risks?
4. Does the application incorporate Industry Best Practices into the standard release of the product?
5. Does this system provide a continual and reliable level of data integrity?
Clearly, there are plenty of things to consider when choosing to upgrade or purchase an accounting software program. There are plenty of software solutions out there to choose from, but only a handful of truly reputable firms that have the established reputation to provide a complete solution and stand by their product. Check industry publications and reputable online resources to find a complete list of solutions providers to find the best fit for your organization.
