When Deloitte undertook a study to determine which factors drove the purchase of new business accounting software, the results were most revealing.
Respondents were asked to rank in order of importance their top ten criteria for selecting an accounting software package. For the purpose of comparison, the businesses selecting their first accounting system were ranked separately from those selecting their second.
First Time Buyers
|
RANK
|
REASON
|
| 1 |
Price of software |
| 2 |
Ease of implementation |
| 3 |
Ease of use |
| 4 |
Software's ability to fit the business |
| 5 |
Functionality of software |
| 6 |
Software works with existing hardware |
| 7 |
Growth potential of software |
| 8 |
Level of support provided by local firm |
| 9 |
Quality of documentation |
| 10 |
Developer's track record of performance |
Second Time Buyers
|
RANK
|
REASON
|
| 1 |
Level of support provided by local firm |
| 2 |
Developer's track record of performance |
| 3 |
Software's ability to fit the business |
| 4 |
Growth potential of software |
| 5 |
Price of software |
| 6 |
Quality of documentation |
| 7 |
Functionality of software |
| 8 |
Ease of use |
| 9 |
Ease of implementation |
| 10 |
Software works with existing hardware |
Source: "Top 10 Criteria for selecting accounting software" by Michael J. Budiac, CPAssociates Seminars, Inc.. This article has been developed by Tricolor Consulting Ltd.
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