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Web-Based Financial Software
The economics of web-based financial software
Although it’s inarguably critical to the ongoing success of your organization, software acquisition can be expensive–especially for on-premises implementations. Careful investigation of your options is not only prudent, it can save your firm considerable money.
In selecting financial software, evaluators have numerous options, from the older on-premises style to newer web-based financial software. These software products offer a wide variety of functions, features—and costs. Not surprisingly, there’s a fair degree of market confusion about the relative costs and benefits of different software-deployment models.
In reviewing the different options and their associated economics, many evaluators conclude that multi-tenant, web-based financial software offers substantial advantages:
- Scalability/flexibility to add users as you grow
- More frequent functional improvements to the product
- Lower support costs for the vendor and the customer
- World-class security and disaster-recovery
- Easy standard integration with other solutions from leading vendors
Software buyers must compare more than functions and features. They must also evaluate the underlying economics of different deployment options and select the one that delivers the best long-term value. In assessing solutions, we strongly suggest you consider how any solution:
- Frees up your IT resources —Will the new web-based financial software solution keep your IT personnel out of application maintenance and let them focus on more strategic activities? What brings more strategic value to your firm: Applying IT patches and fixes to an accounting system or working on more strategic applications like a new mobile or e-commerce solution?
- Can be enhanced over time —Will the software vendor be stretched in many directions, unable to dedicate appropriate staff and capital into enhancing the licensed solution? Or does the vendor have a web-based financial software solution that permits a more efficient deployment of people, capital, and intellectual property? The more efficient vendor should deliver a better quantity and velocity of enhancements.
Intacct is the No. 1-rated web-based financial software solution that meets these requirements. Contact us today to learn more!