Accounting Software Buyers Guide
Part 5: Dollars and sense
How should you calculate the total cost of ownership for your accounting solution?
The total cost of your accounting solution doesn’t end at the software subscription. Other factors include integration and the labor surrounding implementation. Here’s a formula to help:
Subscription and licensing (costs per user to have access to the application) are upfront and generally straightforward. The true hidden costs of cloud IT software begins with software integration. Remember, most software applications are designed independently; they can’t communicate with each other. Therefore, based on your solution, establishing and maintaining integration may be part of the implementation process.
How Salesforce Native Apps Work Together to Provide Data in Real-time
Traditional, multi-platform IT integration costs involve the use of “middleware,”—tech used to establish the connection—and IT labor. This labor includes IT consulting and the process of creating, deploying, and maintaining the integration. And integrations between siloed applications usually require systematic maintenance too. These integration costs can be avoided if you choose an accounting solution on a shared business platform—for example, Accounting Seed and Salesforce. This would leave you to just concentrate on the subscription costs and labor surrounding implementation.
If it isn’t possible to avoid integrations, make sure you carefully define the requirements, triggers, data entry points, and design patterns to secure the desired functionality. This will help minimize data errors or dysfunctions. Choosing an accounting system with a flexible, reliable API pays off with a stronger connection.
IT labor costs are both internal and external and involve time and money. Internally, this reflects your in-house staff implementing and adapting to the new tech. Externally, this involves outside IT professionals helping you implement the product. These external resources include the software company providing product assistance, their implementation specialists, and/or independent IT professionals you bring into the process.
As you explore options, ask software providers about these costs and get estimates to form a budget upfront. While each case is different, the flexibility of your accounting platform will be a major time and cost saver throughout the adoption process. Teams will spend less time and money having to implement the solution.
What should you expect in the adoption journey of a new accounting technology?
No matter what technology you choose, there will be adjustments. Strong project planning and transparency with your software provider is key. Start by getting statements of work for the implementation that are in the 4 – 8 week time frame. Apply this as an Agile methodology too, in a multiple of two weeks. If you accomplish implementation milestones ahead of schedule and are adopting the tech well, you can always accelerate your plans.
Be sure to measure your progress toward key milestones to remain on track and adjust goals for your desired completion time.
Maintaining communications with your accounting platform provider and IT specialists initiating the implementation is also important. You’ll need to align requirements and goals from the beginning to achieve system deliverables on time and on budget. This is the time where a structured adoption plan needs to be created and orchestrated from the C-suite, down.
- Top Reasons Implementations Fail
- Tips for Switching
Changing accounting solutions can be perplexing, but spending time on the front end to get it right, will be worth it.
Ready to change your accounting solution?
If you’re thinking about switching accounting software, we’d love to help. Accounting Seed utilizes the Force.com Platform to seamlessly connect data from sales lead to accounting ledger—providing a complete view of business performance in one system without costly integrations. Want expert advice on the benefits of accounting natively on Salesforce?