Whether you are a freelancer working out of your bedroom or a Fortune 500 enterprise with 100,000 global employees, there is one common truth — financial transactions must be recorded, stored, and reported. It’s the only way to know for sure just how well and how successful a business operation is performing. Financial accounting is the universal language of business that all stakeholders, big or small, can understand and act upon.

This vendor comparison guide and tool, created by Mark W. Kaelin for TechRepublic Premium, will help you compare different vendors based on common features, and help document your findings to support the decision-making process. NB. The spreadsheet does not contain any names of the vendors. Users will need to decide which vendors they wish to compare.

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SUBJECTIVE FEATURES

The features and characteristics in this section often have some measurable or quantifiable aspects, but the decision-making process regarding each factor is often made on a more subjective basis, determined by human interactions and business relationships. However, the score given to a financial accounting software vendor in these categories could also be the determining factor as you make your final decision.

Many of the factors in this section should also be specified in a negotiated service level agreement. Any vendor not willing to commit to an SLA that is agreeable to all parties should be eliminated from consideration.

Ease of use

Regardless of the technical proficiencies of the software, no vendor should be offering applications that are difficult to use. Decision makers should be looking for products that are designed to be user-friendly and intuitive. This is where the benefit of a free trial period comes into play.

Support

Most vendors will offer around-the-clock support, and such support should be considered a minimum requirement.

Enhance your selection methods with our in-depth nine-page PDF and spreadsheet. Previously priced at $99, this is now available for download at just $9. Alternatively, enjoy complimentary access with a Premium annual subscription.

TIME SAVED: Crafting this content required 20 hours of dedicated writing, editing, research, and design.