9 tips for selecting cloud accounting software

For many small businesses, cloud accounting solutions are not just alternatives to existing systems, they’re now the only realistic accounting platform out there. How, then, do they choose one provider over another? Here are 9 tips for selecting cloud accounting software that will work for you and your business.

1. Evaluate current systems

Before you even begin investigating what’s out there, you need to examine what it is you’re currently doing, what it’s lacking and thus, what your needs are in relation to it. Of course, you can do this without examining your current systems, but doing so will give you a useful springboard from which to analyse your requirements.

2. Assess what’s on offer against your needs

The best way to do this is by producing a shortlist of reputable providers, and in turn, asking yourself (and representatives of the provider) questions about their ability to meet the needs you outlined during step one.

3. Settle on a budget

Most accounting software providers will not operate on one system alone, and instead, will offer a wide range of subscription packages to suit different businesses. Find your ideal budget, and then, examine package options out there.

4. Prioritise adaptability

Add-ons are an essential part of every evolving business’ online systems. As a result, it’s vital that you make sure your proposed accounting software provider is able to accommodate them.

5. Make sure their support is top notch

Part of running a savvy business is anticipating the occurrence of error, and having an action plan in place before it ever gets off the ground. Some accounting software providers may offer numerous attractive prospects, without making any mention of support during troubleshooting. Avoid these kinds of providers, as support really should be part of the package.

6. Consider ease of implementation

Those who opt for cloud accounting solutions are usually looking to streamline existing protocols. As a result, a key factor in making the switch generally centers around convenience. If your accounting software is going to require months of training and disruptive implementation, then it’s not streamlining your business.

7. Consider your data transfer needs

Data transfer is a big part of cloud accounting, so you need to make sure it’s easy, fast and generates minimal disruption. Furthermore, however, you need to make sure it’s secure. Consider convenience alone may cost you more in the long run.

8. Look for other sources of recommendation

Before you settle on a provider, you’ll want to spend some time tracking down reviews, recommendations and general service assessments online. Testimonials and the experience of others can often be more reliable than a glitzy website and big promises.

9. Make use of free trials

Many accounting software providers will offer free trials: make the most of them, as sometimes the best way to decide whether or not something works for you, is by trying it out for yourself. If you think your business could benefit from making the switch, don’t hesitate to get in touch with eFolio Accounts Ireland. eFolio Accounts is designed specifically to make managing your finances and bookkeeping easy and to help you have better cash flow and a more profitable business. Or, you can also join us for a free 30-day trial of our product! Absolutely no credit card required! Get paid on time with easy invoicing and manage client accounts with efficient built in email for invoicing. eFolio Accounts is all your business need.