Before the advent of technology, maintaining the books of account of a small and growing business requires careful entry of numbers in a paper ledger. This is not anymore because today businesses of all sizes in different industries – retail and manufacturing, financial services, real estate and property management, co-operatives, credit, and finance, etc – use accounting software to track their cash flow, as well as to project revenue and take timely business decisions.
You want to see the prices of genuine accounting software here? Please click here to visit online store for QuickBooks, Sage 50, Busy and Tally ERP
Remarkably, accounting software reduces the potential for human errors that come with data entry on paper, and it allows you to generate complete financial and management reports that would have ordinarily taken hours to access on paper.
But the challenge now is, with so many accounting software options available, how do you find the right accounting software vendor in Nigeria that will help you pick the best for your business?
Below are four tips to help you find the best accounting software vendors that will best serve the needs of your small and growing enterprise in Nigeria
1. What is your line of Business?
Your first step to finding the right accounting software vendor for your business is to look at your line of business, or industry and how you operate. This way, you have an idea of the features of the software and how it will work.
Depending on your industry, you might want to buy specialized software or one that is easily customizable for businesses in your niche.
Let’s say, for example, you run a real estate and property management business, you’d want accounting software that will not only manage transactions that are tailored to each property but also compare the financial performance of each of the properties and rental payments.
And if you run a retail and manufacturing business, your key considerations are tracking inventory purchases, sales, and expenses and generating a real-time report on how your business is doing.
The same also applies to a credit and finance firm that focuses on lending to customers at specific interest for different repayment periods. Such type of business requires additional charts of account customizations; create account heads to track interest income, receivables, cost of funds, and profit or loss position.
And so on.
2. Is your Vendor a Registered and Experienced Partner in Sales, and Deployment of Accounting Software?
In this era where remote hacking is increasing resulting in the loss of billions of dollars year on year, buying a pirated copy of accounting software should be completely out of your options.
Yes! Accounting software packages may be expensive but losing your private data to unauthorized hackers via spyware is costlier. This is a strong reason you can’t afford to buy your next software from unregistered accounting software partners.
An accounting software vendor isn’t someone that sells QuickBooks, Sage, Tally, Busy, or any other ERP software, but one who is able to understand a client’s line of business, spot specific financial reporting needs in that industry and can recommend a workable solution that is easily adaptable. And this only comes from years of experience in implementing similar solutions for related businesses.
As a new or existing business looking for a good accounting software solutions, it makes more sense to verify the authenticity of the license you are buying so you don’t get caught in a sudden shut down of your software as a result of unregistered license.
For instance, a client called us to request for migration of 6 years financial data from Sage Quantum software to QuickBooks Enterprise but their company’s file wasn’t readable on our conversion tool because the software isn’t licensed.
We had to send their data to our technical partner in the US for proper conversion, this cost them more than they expected since they couldn’t afford to give up on historical records.
3. Do they offer support Cloud or Desktop or Both?
With the increasing adoption of remote access to financial data and reports, cloud computing has become a very important influencer of business operations. As you look into the specific features of accounting software suitable for your line of business, you also need to confirm that your vendor can offer both desktop and cloud solutions.
The desktop solution is installed on your computer system and accessible on that PC where the data file is stored. You can’t access it remotely but the cloud application gives you unrestricted access from any location as long as you have a strong internet connection.
While some cloud accounting doesn’t require a license during setup, you can also take the licensed desktop application to the cloud but this requires a virtual server.
Your preferred solution provider shouldn’t be able to advise you on which platform is best for your accounting and financial reporting needs but offer a trusted infrastructure on which your solution should run.
To save you the stress of looking for the best accounting software vendor in Nigeria, you can connect with BigResources Solutions at [email protected] or connect with customer support service – 08105090001, 08084219399
Want to see the prices of genuine accounting software offered by local vendors? Click here to visit online store for QuickBooks, Sage 50, Busy and Tally ERP