Small Business Advice Cloud-based Accounting Software Advice from the Experts

Here is a guest blog post from Michael Koploy, ERP Analyst, Software Advice

Because of its attractive pricing model, collaboration benefits, and little-needed IT resources, more small business should look into online accounting software.

Software Advice, a website that reviews both on-premise and cloud-based software programs, recently held a roundtable discussion with three cloud-based accounting software CEOs. These executives from Intacct, ePartners (a Microsoft Dynamics GP VAR), and Kashoo offer solutions for a wide range of industries and sizes of businesses, but they agreed on a number of qualities that make online software a good choice for small and medium-sized businesses.

Here are some highlights from the roundtable discussion:

• More small and medium sized companies (less than $2 million in annual revenue) are choosing to adopt online accounting and ERP solutions.
• Users are becoming more comfortable with putting their important financial information in the cloud, thanks to users warming up to the idea of storing sensitive information on vendors’ servers.
• Most industries are quickly moving to cloud-based financial systems. One of the industries that is not? Manufacturing.
• Benefits of switching to online systems from on-premise software include: less IT requirements, improved financial visibility, improved process automation, cash preservation, and increased collaboration.
• Mobile technology, decreased data entry, and more accounting-focused, cloud-based ERP solutions are seen as future trends in the industry.

For a full transcript of the discussion check out: State of the Online Accounting Industry: Executive Roundtable.

Michael Koploy ERP Analyst Software Advice All the best!

Dom Celentano

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A good example of a highly targeted Niche Market. At $1 Million in revenue, it may just be a very profitable small business and what is wrong with that. Take the profits and start another business. That is what serial entrepreneurs do all of the time.



All the best!

Dom Celentano

Tips on Running a Small Business

Managing a Small Business Requires a Few Linchpins

Whos Job is it Anyway?

Most business hire people for “jobs” and jobs are framed
(typically) into responsibilities and tasks. Why don’t most small businesses don’t
hire people to really think outside of the narrow framework of their job
description?  Because it is scary and
means empowering someone to act upon information that is incomplete and fuzzy
and maybe to take action without checking with you… The Boss.

So in this article,A Strategy for Learning from Mistakes, 8 years worth of customer shipping bags
were ordered. Bad! However was it anyone’s description to go beyond inventory management
and re-ordering? Even the manager was doing his job since inventory was being
taken, orders were being processed and vendors were being communicated with.

People in key positions should be empowered to act when
things just don’t fit neatly into tasks and responsibilities. Rather than just
acting upon information, they need to recognize what the information means and
then make management decisions… Critical Thinking (sometimes referred t as Problem
Solving).

Hire a few Critical Thinkers

Critical Thinking goes beyond recognizing an “auto-reorder”,
knowing that orders fulfill approximately 3 years of the business needs and a
vendor saying something does not seem right. It means recognizing that “something
just does not seem right” and I need to determine what this means.

All the best!

Dom Celentano

Tips on Running a Small Business