Researching the Top Financial Planning Software

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Since business financials interact with so many of the facets of a company, improving accuracy and efficiency there can deliver the greatest business value. Financial planning software has helped many small to mid-size businesses replace paper-driven processes, improve financial accuracy, comply quickly and easily with evolving financial regulations, and gain clearer financial insight into their business. So how do you know when it’s time to research new accounting solutions?

Questions to Determine if Your Business is Ready for Financial Planning Software

Since all but the smallest companies can realize business value from automating financial processes, it’s highly probable that your business is past ready. Nonetheless, here are a few questions that can help you determine how critical deploying financial planning software is for your business:

  • How many financial transactions occur?
  • How much time is spent recording financial information?
  • How many times must that same information be entered in various places?
  • Are there errors? How much time is spent correcting them?
  • How do inaccuracies affect your ability to make rapid, sound decisions?
  • Is your business in a growth cycle? Are you hoping to grow more?
  • How much time and effort is devoted to keeping up with financial regulations and guidelines?

Think About Financial Planning Software Deployment Options

Purchasing on-demand applications can provide high flexibility at a low cost, while on-premise solutions can provide the confidence that comes with greater control. Big names like SAP can provide strong on-premise financial planning software, while other companies like Sage accounting give customers a choice of hosted or on-premise deployment. Businesses just dipping their toes into the realm of automation may prefer the hassle-free SaaS deployment method.

How Important is Ease of Use Versus Highly Specialized Function?

Something that seems as basic as financial planning software actually provides customers with many choices. If you are concerned about making it easy for employees to use the solution, you may want to consider products such as Microsoft Dynamics or Syspro, which work through already familiar Microsoft environments. Another option that highlights ease of use as well is Intuit QuickBooks Enterprise Solutions. On the other hand, you may be ready to automate your financial transactions because of complex function requirements specific to your industry. If that is the case, look into products like Unit4 Coda, which utilize a best-of-class approach to allow you to build your own specialized applications.

The world is increasingly automated. Financial information is some of the most business-critical information within a company and handling that information with speed, accuracy and in compliance with a swelling sea of regulations justifies an investigation into financial planning software. But the number of possible solutions can make researching them seem daunting. For that very reason, it’s important to read through reviews for top financial planning software vendors. Reading vendor profiles in an overview format is helpful in determining which financial planning software might best help your business reach its financial management goals.

Want More Information?

Your search for financial planning software doesn’t stop here. For more help in your research, as well as an accounting software list to get you started, check out our Top 15 Accounting Software Vendors report. It’s completely free, and it gives you a ton of important information on accounting software vendors, highlights of their software, and tips for finding the best accounting software solution for you.

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