What to Keep in Mind before Choosing the Best Accounting Software for Small Businesses?
In the last few years, under the global impact of digital revolution, several changes have been encountered in the world of business accountancy in India. With a view to managing the business finances, it has become quite important for most of the organizations in India to obtain a certified, advanced, and easy to use Business Accounting Software.
In this blog, we will know about the most crucial factors which should be considered earnestly before choosing a business accounting software.
1. Automated Accounting Solution
An advanced software installed with Automated Accounting features saves your valuable time by automating almost 80% of the entire task. This helps enhance your proficiency on the vertex by keeping everything updated and keeps the old manual efforts to the minimum too. While on the other hand, it completely slashes the chances of errors which comes around as a common issue in the old manual approach.
2. Cloud-based software
Purchasing a 100% cloud software enables you to access your accounts anytime and anywhere with top-notch speed. Hence, with cloud-based software, your location doesn’t matter at all and you enjoy an ultimate anytime anywhere access. Centralized Database and Cost-effective approach are other distinguishing characteristics of a Cloud software that helps you carry out your job the way you wish to.
A cloud-based Accounting Software keeps your stored data and other files and information extremely safe even if the system gets crashed.
3. Hybrid Accounting
Hybrid accounting system offers you dual benefits as you are completely independent to work on both the desktop and the web versions. In simple terms, you get access to both the online and the offline modes. So, purchasing a Hybrid Accounting cum cloud-based software offers an excellent opportunity to enjoy and increase your productivity.
4. Real-time Business Insights
In addition to easy bill payment, online invoicing, expense management, etc. there’s one thing you cannot out miss on, your current financial position! In order to improve upon the weaknesses and strengthen the positives, one needs to know where his business is. The real-time business insights help you know the current financial position of your business. Hence, you will always be updated on how you are doing.
5. Hassle-free Data Migration
The Accounting software that you go for must be capable of migrating data from any other accounting software without any hassle. This is one of the most important features of a business accounting software. Hence, an accounting software must facilitate an easy data migration so that a business is able to migrate its data instantly at an affordable cost.
Before purchasing a business accounting software, it should always be kept in mind that its operating system should enhance the efficiency and productivity of the concerning professionals. Even though some accounting software are equipped with a rich user interface; yet, do not promise to be easy to use. But, is it really good if it causes an additional burden for training?
Hence, the entire mechanism of a business accounting software must be easy to use and convenient enough to be used proficiently at the right moment without obstruction.
7. Advanced Security
Data security is another feature that is of paramount importance. In a world, where cybercrime is on a rise, it’s really important to choose a software embedded with advanced data security. The business accounting software with advanced technology keeps your data safe and secure with TLS 1.2 Transport Security with AES 256 bit encryption (HTTPs at SSL Level).
Another important factor to take into consideration is Data back up and Restoration that will keep your data intact in case of unwanted data loss.
Now we know how these specific characteristics of accounting software can help you succeed by leaps and bounds. However, you still must be wondering where you can get all these features Well, HostBooks seems to be proficient enough to meet all the critical challenges of Accounting and other similar issues that most of the businesses are facing today.