Why Settle for a Mold?
An accounting software that fits your industry may seem great, but in reality, you’re settling for a generic mold of how accounting should be done for your field. In reality, individual companies operate differently, even within the same industry. This ‘accounting software mold’ can actually become restrictive rather than helpful. There’s a good chance your company is more complex than the mold or will outgrow it.
Scalability is another issue with industry-specific accounting programs and ERPs. These solutions are great when you don’t need to combine business models or aren’t interested in being entrepreneurial by adopting new technology to service customers. However, if you are looking to grow your business by using more technology and a range of financial processes, you’ll inevitably be limited by the confines of that software.
Breaking The Mold: Access to Platforms
The best way to avoid the constrictions of an industry mold is to use a business platform that hosts all the tools needed for the business. This actually gives you the best of many worlds.
Business platforms enable multiple companies to develop and connect their technologies together in a single home because integrations are lightweight or unnecessary. A conventional industry ERP is made and supported by only one software company that gives you ‘their’ mold. On the other hand, a business computing platform allows you to build a management system of multiple, different software applications that will support your work. This means you can pair an industry-focused application with a dedicated accounting system that still draws financial details from the other applications you use.
For example, looking at the Salesforce platform, TechCanary, an insurance policy management system, and Revenova, a transportation management system, partner with Accounting Seed because they still need a flexible accounting system in addition to their own industry features. While these companies excel in managing operating processes within their fields, that doesn’t mean they can just create an accounting app that works for their industries, or the individual companies they service.
Because all of these solutions are connected on the Salesforce platform, a customer can have access to all three of these solutions. This means that any industry can choose the software they need and customize how they work together without sacrificing functional proficiency in their accounting or operations. Platforms simply give you more tools, options, and freedom to pilot your business.