Managed IT

How Much Are You Really Paying For Maintenance And Support Of Your Financial Accounting Software?

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.

Smarter Reports Make Smarter Decisions

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:

1. Profit & Loss Report with all the typical data points (current month actuals, last month, last month prior year, budget, year-to-date, etc.)

Focus on Business, Not HR and Payroll.

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.

What You Need to Know About SMB Intelligence

Advantages of SMB Intelligence Reporting for MS CRM

Just like SMB Intelligence has an extensive, live integration to every Microsoft Dynamics ERP system, it also has a major, live integration to the MS CRM database. This gives you several benefits: