Accounting is the financial hub of every business.
Selecting an accounting solution is not just about picking one off the shelf and running with it. This is an investment that is either going to help your business grow, or will hold your business back.
What should you consider when selecting an accounting solution? Among other factors, there are 2 crucial factors that should be taken into account.
How long has the solution been in the market?
This is important because the longer it has been around, the more assured you are that it is a reliable solution. Along with that is whether the solution has grown, i.e. there have been upgrades, not just in terms of adapting to changing technology, but also in terms of adding features, ironing out bugs, etc.
Does the solution cover most, if not all, of the functions you need? There is no sense in automating some aspects while still having to manually manage other functions, resulting in duplication of work.
The ideal choice would be a solution that does not just provide accounting, but also, to some extent, helps automate business operations and provides reports for decision making.
The Solution Provider
Who are you buying the solution from? How long have they been providing the solution? Will they be able to support you in the long run?
Since MYOB is primarily an accounting software, do they understand accounting? Not just from the point of debits and credits, but also in terms of management control and reporting needs?
In Malaysia, there is also the need to understand how the Goods & Services tax works. Can they assist you with compliance to a certain extent?
The worst possible scenario is you cannot get help when you need it.
To help you along in deciding, click on the links below to review what we, at Deltatech, have to offer and why MYOB might be the solution for your requirements.