Most of the business in India yet today that we find runs on legacy accounting software system rather than an online accounting software. The reason behind it is, not that businesses are unaware of the cloud platform, but because of the threats that are often talked about in the online world. Also the unconditional part of the internet bound to run the system, is what makes customer think running an online accountig software is a problematic solution. However this is merely a myth. Threats exists but security exists even more, internet is a boundation but internet exists today in everyone’s mobile device, there are solutions to every problems, but there are no solutions to myths.
We typically recommend web based/online accounting software to small to medium businesses with fairly straight forward business processes that are looking to reduce upfront expenses. Because SaaS solutions are cost effective and are ready to use systems on the cloud.
In truth, data security is independent of whether the server is sitting right next to you or in a different city. SaaS vendors are actually able to invest much more in security, backups and maintenance than any small to medium enterprise. The emergence of web based software and software-as-a-service is increasingly becoming popular today. So there is no way you can’t think about moving your business to the cloud.
Today more companies are coming forward to provide accounting services on the cloud. But let me give you some clues about choosing the best cloud accounting software for your business. Check it out
1> Get a trial before taking any decision to make a purchase. 30 days trial period is available for most of the applications.
2> Test the speed of web page load time, it should load faster, most probably if the software is developed in java/jsp file extension you will find it is 10x faster than any other online accounting software.
3> Make sure your requirements/processes are fulfilled and there exists all statutory reports to file taxation either it is VAT/GST
4> Look for both iOS and Android Apps. Most of the vendors only have Andorid Apps so as a business owner if you are using iPhone it will be a problem for your device.
5> Make sure data are hosted on the Amazon Web Services or a Microsoft Azure platform. Because this is by far the most trusted cloud application hosting environment for businesses.
6> Make sure you can open multiple companies under one platform. So if your are running 2 businesses you can manage all your companies under one roof.
7> Check if there is a possibilty to scale your software as your grow. Check for functionalites/features existence that can scale you up gradually with your needs and processes.
8> Check if there are hidden charges like charges with increases in voucher/transaction count. Make sure if the software is efficeint prices may be compromised.
9> Make sure there is a help manual for the online accounting software application.
10> Call to know how are the software services being provided.
11> It is even better to know if there are product consultants found easily on the product.
12> Look if there is an easier and common way ro customize your SaaS system.
13> Make sure the software application has multi user capabilities with user wise permissions.
14> Check for special features if any (Eg. scan copy attachment, reports scheduling, sms and email reminders etc.)
15> There is nothing to worry about if you dont find any backup system, make sure you have the options to download your data in excel or pdf formats.
Hope above following information will help you out in choosing the best online accounting software for your business. Best of luck for planning to move on to the cloud.