MAKING sure a company’s financials are in order is a crucial process in any organization of any size, but not everyone gets it right. While some small businesses can make do with rudimentary bookkeeping solutions and spreadsheets, growing companies need much more complete solutions to help them run and manage their day-to-day financials.
The right accounting software can streamline and aid in increasing the accuracy of a company’s records as it removes the risk of human error. This dramatically improves a business’ chance of getting things right the first time, rather than running the risk of making mistakes with costly consequences.
Accounting software that is quick and agile is also important to make sure business leaders have up-to-date, critical and reliable information at hand so they can make big decisions. Without a comprehensive solution, reports can take up too much time to compile and analyze, but the right one can deliver valuable reports that are timely and accurate to necessary teams, therefore making processes much more efficient.
The benefits of a well-rounded accounting solution are undeniable, but with so many out there, it’s often difficult to know which one is right for your business. Here are our top three picks for accounting solutions that can take organizations further.
An easily scalable solution targeted specifically at small businesses is Quickbooks by Intuit, a US-based business and financial software company. Quickbooks promises to give businesses an all-in-one solution that will strategically organize, manage, and even allow for future planning of all the accounting that goes on within a company. According to the company, 83 percent of their customers say they would use QuickBooks from the get-go if they started a new company.
With this solution, users can easily track expenses, access expense reports, and keep tabs on how the business is jogging along from a mobile device. Businesses that are used to using spreadsheets can also import data easily into QuickBooks, reducing the amount of friction users may experience when making transitions. QuickBooks’ flexible and friendly interface makes it simple to use, without underestimating how powerful it can be.
It also has a feature that enables both users and their clients to send invoices and receive payments without hassle – this is particularly useful for freelancers. An especially useful part of this feature is that users can see when a client has already received their invoice, and keep track of the payment without having to check their bank balances multiple times.
Nearly all successful businesses will find themselves on the cusp of growth, but might feel held back by their limited means of accounting. This is where Oracle NetSuite swoops in with their flexible and scalable solution that takes businesses to the next level without a hitch. Oracle NetSuite’s complete Enterprise Resource Planning solution is built in a unique way that makes the transition to the cloud seamless and hassle-free, giving companies the freedom to focus on other aspects of growth.
No matter what industry you’re in or how big your ambitions are, tapping into new markets is also made simpler with the solution’s fully-integrated e-commerce capabilities. Businesses can rely on Oracle NetSuite to handle multiple types of projects or to manage a complicated supply chain with surprising ease. With fewer things to worry about, business leaders are able to focus on their company’s growth trajectory and big-picture goals.
Oracle NetSuite’s customers have reported huge savings and benefits when using the solution to take care of financial and accounting aspects. This is thanks to its ability to streamline and make entire departments more efficient, compared to some clunky and messy on-premise solutions that simply take up too much time and resources.
To find out more about Oracle NetSuite, click here.
Sage Accounting Solutions has three offerings tailor-made for different business sizes and needs, giving businesses a range of flexible options. The cloud-based software automates processes to increase efficiency and integrates typical financial transactions for a smoother day-to-day experience. Sage One, the simplest of the three solutions, is catered towards entrepreneurs and small businesses, while Sage 50c is specifically for small businesses. Small to mid-sized businesses can use Sage Live, which is the most complete software suite and offers integration with Salesforce.
All of Sage’s solutions have common features, including instant reporting and analysis, and automating processes to help finance departments save time. Sage Live is also built on the Salesforce App Cloud, which lets all relevant parties manage finances in multiple locations, languages, business units, and currencies from wherever they are in the world. It also offers interactive scoreboards and live notifications so that administrative teams can always keep an eye on how the business is doing.
*Some of the companies featured in this article are commercial partners of Tech Wire Asia