Truly understanding the total costs associated with — well, anything — is never easy. When it comes to cloud computing, online tools and just about any financial accounting software, this struggle is more than apparent.
Just try answering this question: How much does it cost to keep a system running? Don’t forget to calculate electricity costs, security precautions and the time it takes your IT people to fix problems.
Not easy, right? It can be particularly difficult to understand the cost of maintenance and support for cloud-based programs.
Regardless, overcoming this problem and determining the actual cost of cloud software maintenance is critical. Why? For one thing, most companies will realize that by including these costs into the price of managing the finances of an organization, cloud subscription models are actually cheaper than on-premises financial tools. The value of ongoing tax updates and year-end closings is considerable and should never be underestimated.
It’s also important to truly understand these costs because without quality maintenance and similar services, business as the company knows it can end the moment it’s unable to print checks, process payables or accept receivables.
The first step to calculating these costs is to understand what “maintenance” really means. Maintenance is often thought of as annual software license costs to stay current. But it really means much more than this. Maintenance is about keeping your system running smoothly for months and years at a time.
Think about maintenance for your financial accounting software the way you think about maintenance on your car. You’re not just making car payments to keep the vehicle under warranty, you’re paying to complete ongoing tasks such as washing the car, rotating the tires, changing the oil and gassing it up.
With financial accounting software, there are changes to the tax code every year that have to be addressed in order for a company to remain compliant. There are new laws to consider at the start of every fiscal and calendar year. These alterations to the code must be incorporated into the financial workings of a company, or it will fail to stay within the confines of the law. Financial accounting software must have continual updates for specific modules within the programming.
With the real definition of maintenance in mind, here are four factors to consider when calculating such costs.
Is your small- to medium-sized business (SMB) finally moving your financial accounting software from your server in the basement to the cloud? If so, that’s a great decision!
However, successful migrations aren’t easy without help. Here are five tips on how to seamlessly move through this critical process and start enjoying the benefits of a cloud ERP solution.
So many small- and medium-sized business (SMB) leaders aren’t thinking about what their on-premises ERP solutions cost the company.
If you polled small and midsize businesses and asked them which reports they use most frequently to monitor and track performance, you’d almost certainly get hundreds of different answers. It’s pretty obvious that the goals any business wants to achieve impact the decision-making process and, therefore, the data they need to make the best decisions. However, most businesses exhibit the “80-20 rule”: 20% (or less!) of the reports that the business utilizes likely drives 80% (or more!) of the performance monitoring and decision-making process.
So which reports do you think are the top 5 or so to help you get the complete “high-level” overview of what’s going on with the company? Some of the classics:
Hosted ERP solutions provide a wealth of compelling financial and technical business advantages to today’s small and midsize organizations. These benefits include:
1. Reduced Integration and Technology Costs Companies must lower IT costs to lessen their overall spending. The current rule-of-thumb is that spending must decrease each year, posing a challenge to companies...Read More
One of the great benefits about SMB Suite is our integrated HR services. For a lot of businesses, managing the overhead of full-service HR is just cost-prohibitive. At the same time, failing to provide the correct HR resources can lead to unhappy employees and even legal liability. Our SMB-HR module is designed to be 100% managed by Insperity, the industry’s leading PEO. By outsourcing these responsibilities your small business can potentially save a lot of money and time. But don’t assume that all PEO’s are the same. Spending too much time on your employee-related tasks and not enough time on revenue-generating duties could be hurting your business more than you think.
With a Professional Employer Organization (PEO), an outsourced HR service, you can turn over many of your business’s time-consuming HR tasks to a dedicated team of HR specialists, so that you can focus on your more profitable responsibilities. Moreover, when you sign on with a PEO, much of the risk and responsibility of employee administration and government compliance is transferred to the PEO.
Here are five ways a PEO can help resolve some of your most frustrating HR struggles.
Advantages of SMB Intelligence Reporting for MS CRM
We decided to write the previous two blogs and the current to address concerns across the net on whether the cloud was a safe environment for your business’ accounting and...Read More