Congratulations! By deciding to upgrade or
replace your financial and accounting software, you've taken a major step toward helping your business succeed in today's competitive environment. Choosing a new financial and accounting package, however, is a timeconsuming process and gives rise to a number of questions: • How do I choose the right sofware package for my business? • Which questions should I ask prospective resellers about the software I am considering and the related services they provide? • Will I need help migrating my data, customizing the application, or installing the system? • What about after-sales support and training? This guide will help you answer these questions. Featuring four easy to manage steps, it shows you what to look for when evaluating software, which questions to ask resellers and how to determine your after-sales support and training needs. To have this guide work for you, read through the steps and then use the checklists to evaluate each software package and reseller. Keep track of the information you gather in a spreadsheet and compare the features and benefits of each package and/or reseller against your business needs.
“Featuring four easy to manage steps, it shows you what to look for when evaluating software...”
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Choosing a financial and accounting software
package for your business can be risky. If you have no prior knowledge of the industry or don't consider yourself a "techie," this guide was written with you in mind. In it, you'll learn the right questions to ask, saving yourself from researching software and resellers who aren't right for your business.While no one can make the final decision for you, this guide should make your decision easier.
STEP ONE: How do I determine which financial or accounting system is right for my business?
Choosing the business software applications
that are right for your business is a team effort.Talk to your managers, employees and partners (don't forget off-site service and sales reps). Get people's feedback on how they work and what would make their jobs easier. Learn where the bottlenecks are in the system and why they are occurring. Determine if you need to only replace a few applications, such as basic accounting or inventory, or if you need a complete business software and system overhaul. The software package you choose should have integrated modules that share information with one another.Why is this important? Because to gain a competitive edge and make strategic decisions, you need comprehensive financial management and reporting that only integrated software can give you. Other important benefits include eliminating data re-entry or repetitive tasks and the ability for all employees to access information. Be wary of software packages that are "one-dimensional." These packages are capable of only one set of functions, such as accounting, or are tailored for one specific industry. If your business grows or changes,
you'll be right back where you started— looking for a new software package. Instead, look for software that is multifunctional, offering modules that integrate with applications you are already using, including CRM or e-commerce. Many software packages say they are built specifically for your industry but may not offer everything you need. For example, some may require third party add-ons, such as project tracking, inventory management or remote access capabilities. For more discussion about software, see Step Two, but for now, begin to familiarize yourself with the following financial and accounting applications most growing companies need:
Financial:
This is the basic product suite you're probably most familiar with since financial applications are at the core of your business. You'll most likely need a new financial system if you're still using DOS-based software, as newer hardware does not support DOS applications, or you have acquired additional companies and are attempting to integrate multiple accounting programs.You may also choose to update your financials solution if your system has become inefficient in handling the volume of
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transactions required by your business or your current system has custom modifications that were made long ago and no longer support your business processes. As the backbone of your business management system, the financial series helps you track key data for your customers, vendors and general ledger chart of accounts, allowing you to analyze your business information and improve productivity.The financial category typically includes the following applications: • • • • • General Ledger (GL) Accounts Payable (AP) Accounts Receivable (AR) Cash Management Bank Management solutions
Project management:
Are you having trouble keeping track of time and expenses that are related to specific projects? Want to produce up-to-the-minute reports while on a project site? Project management applications ensure high profitability by improving how you manage revenue and expenses through every phase of your projects. Look for applications that allow you to analyze and keep track of project details, control budgets and change-orders and keep you posted when projects are over budget through automated alerts. Today's project management solutions can help you drive strategic direction, manage project performance, receive payment faster, reduce administrative costs and eliminate duplicate data entry.
build your own Web store, manage inventory and begin taking orders via the Web, all inexpensively and without requiring you to retain expensive technical staff. E-business applications may include: • eCommerce solutions • eOrder solutions • Business automation solutions for employees such as time card and expense entry
Distribution / Inventory:
Streamline your distribution and inventory processes, improve business efficiencies and gain a competitive advantage with inventory or supply chain applications that eliminate the "paper shuffle" inherent in purchasing, inventory management, bill of materials and work order tasks. You can also automate shipping requirements by creating bills of lading and customer tracking information. Solutions typically included in the Distribution\Inventory series include: • • • • Inventory management Purchase Order Processing Sales Order Processing Bill of Materials
E-Business:
Have your customers been asking to do business electronically? Do they want self-service order inquiry? Would you like to add e-commerce capabilities to your companies' Web site? If so, applications that facilitate Internet-enabled transactions can allow you to reach new customers and provide your existing customers with a new and more efficient way of doing business with you. E-business solutions make it easy for you to
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Field Service Management:
Improve customer service, efficiency and profitability with field service management applications. Applications in this category help you better manage the service contracts you have with your customers, internal equipment maintenance contracts and tracking of flat rate pricing. Many field service management solutions today also allow you to leverage the Internet to mange field contracts—connecting your field reps with the service dispatch center.
How do I determine which financial or accounting system is right for my business?
• Determine the "pain" points within your current accounting system. What processes do you wish to automate? What paper documents do you wish to eliminate with a new financial management solution? • How will integration take place between your company's existing legacy systems and the new software package being considered? What is the cost to create and manage this integration? • Which components of a new financial management system are of highest priority for your company in the next months? 6-months? 12-months? (E-business, inventory management, CRM, etc.)
Customer Relationship Management (CRM):
Increased competition in the marketplace has made finding an effective CRM solution more important than ever.Your CRM solution needs to help your sales staff drive additional sales by mining your existing customer and prospect databases. Having the right CRM solution will help your sales staff deliver the personal attention that today's customers require and ensure that you maintain your customers for life. If you are considering a CRM solution make sure that it seamlessly integrates with your financial solution—making it possible to manage customer records within only one system and eliminating re-entry of data.
Human Resources\Payroll:
Today's payroll and human resource make it easy for you to capture all of your employee information in a single system, allowing you room to expand as your company grows. From personnel and payroll management to recruitment, training and performance management, these solutions deliver valuable employee information in a single location, enabling you to more effectively manage your people and to retain employees. Applications included in the Human Resources\Payroll series typically include: • • • • Human Resources management Payroll Direct Deposit solutions Internet-enabled time entry solutions
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STEP TWO: Evaluating the software packages
egin your software evaluation process by gathering product information via company Web sites or product resellers. Product brochures, case histories, specialized guides (such as this one) and demos (either online or on CD) will give you a comprehensive view of what each software package can or can't do for your business. Read third-party industry reports and talk to other business decision makers about which financial and accounting applications work for them. If a software package is deficient in two or more areas listed below, consider eliminating it from your "contenders" list.When reviewing individual software products, look for the following features: • Easy-to-use interface that extends across all applications or modules within the software package. You should experience the same look and feel no matter which module you are using. • The ability to share information across all modules and product suites (otherwise known as integration or integrated modules) without duplicating effort or data. • Compatibility with common platforms, such as Microsoft® SQL Server, Windows® 2000,Windows NT® and office productivity tools such as Microsoft Office®.With this compatibility, you won't have to do a lot of extra work to get the software to "play well with others" or have difficulty finding people to set up the financial software to meet your specific needs. • Scalability.This means allowing your business to grow without having to worry about exceeding the capabilities of the financial software that currently fits your business. • Ability to easily make custom changes to fit your business. • Information is accessible 24/7 via the Web with secure access for remote employees. • Automated processes to help eliminate or reduce repetitive tasks and errors due to manual entry. • Custom reporting capabilities, including the ability to consolidate information from various applications or modules into a single report. • E-business enabled for business over the Internet.
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STEP THREE: Evaluating the reseller
Choosing the right software for your
business is only half the battle.You also need to ensure it's installed properly, compatible with your network or hardware and your employees can be trained to use it. In addition to software packages, you also need to evaluate resellers, software consultants and system integrators.These are the people who can help you with your final selection process as well as provide installation, training and after-sales support. While you can find qualified resellers in your phone directory, you'll be better off asking colleagues for references or calling prospective software companies for a certified reseller in your area. Use the following checklist to interview each prospective reseller. Be thorough and take your time! This process is akin to choosing a business partner—you want someone who has a good track record and whom you can trust. Choose your consultant based on the following criteria: • Is the consultant certified with the product line and platform? For example, if your business is Windows NT®-based, does the consultant have the necessary experience and certification? • What is the size of the consultant's organization and what is the depth of knowledge within the organization itself? You don't want one person handling all the projects related to one product line. • Is the consultant qualified and/or certified to do data migration? What is their experience with data migration? • Does your consultant have references and clients specific to your industry? Be sure and call all references provided and ask what are the consultant's strengths and weaknesses. • If you have already decided on a software package, what percentage in overall sales does this product represent for the consultant? In other words, you want a •
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consultant who is invested in your software. If the sales figures for your software package are low, consider another consultant. Is the consultant able to provide the customization your business may require? Does the consulting company have a developer on-site? Does the consultant offer performance guarantees? What are they and how do they compare to other consultants? What is the consultant's geographical location? If the company is out-of-state, will they have remote connectivity to your business? How will their location and lack of immediate access impact your business? Does the consultant have expertise in security issues? Does the consultant have any awards or certifications from national organizations? Can the company provide independent industry reviews? What other products/services does the consultant provide? Are these services important to you?
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STEP FOUR: Determine your after-sales support and training needs
efore making your final decision, determine what you'll need in terms of after-sales support and training.The "correct" answers will depend on your budget and the skills and training your employees already have.Your reseller and software vendor will each have their own support plans and training options, but you can get complete answers by asking the following questions: • What is the accessibility of support technicians? • What are typical hold times for support calls? • Can I get help via Web chat?
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• Is remote interactive support available? • Is an 800 number available or will I have to pay toll charges for each call? • What support options are available and how much does each one cost? • What type of training can I expect and how long will it take? • Can training be done on-site or does the consultant offer off-site classes or work with a training facility? • Is Web-based or self-paced training available? • How much will training cost per employee?
Now you're ready to make your decision
Armed with the answers to all the questions outlined in this guide, you'll have the information you need to make knowledgeable decisions about which software package and reseller to choose to help you. Don't delay this process.The longer you take, the more you'll miss opportunities to help your business succeed.
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When evaluating financial and accounting software, consider Microsoft Great Plains Business Solutions.
Microsoft Great Plains Business Solutions
provides business applications that help growing companies become more agile in today's interconnected economy. More than 140,000 businesses in 132 countries count on Microsoft Great Plains e-business applications for e-commerce, project accounting, manufacturing, supply chain management, human resources and payroll, accounting and finance, and customer relationship management. The company's products and services automate essential business processes and enhance the strategic value of financial and operational information.
But beyond our innovative products and services, the true meaning of who we are and what we do is found in the success of those we serve: our customers, partners and alliances, investors, team members and global community. Microsoft Great Plains may be different things to different people, but we remain completely dedicated to a single and essential mission:To improve the lives and business success of Partners and Customers.
US and Canada 1-800-456-0025 International +1-701-281-6500 E-mail: info@greatplains.com www.greatplains.com — www.microsoft.com One Lone Tree Road Fargo, North Dakota 58104-3911
©2002 Great Plains Software, Inc. All rights reserved. Great Plains Software, Inc. is a wholly owned subsidiary of Microsoft Corporation.
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