5 Steps for Selecting the Best Accounting Software for Your Start-Up

Handling the accounting records manually can be intimidating in this digital age. Even if you are using the spreadsheets, you may not get the desired level of efficiency. As a start-up business, using the accounting software with automation features will be much helpful. It will reduce the time spent on redundant data entries and bring higher efficiency in your accounting systems.

Mostly, the accounting software is easy to use even for those having no or little experience of maintaining accounts. There are many companies offering the best software for bookkeeping and accounting. However, it must be selected according to your requirements. Here are the steps that must be considered in this regard:

Understand Your Individual Accounting Requirements:

The requirements of software in your start-up business are centered on two major factors, viz. your budget and software features that your business requires. The accounting software offers much technical functionality for management of your finances and accounting processes. It provides multiple features like ease of operation, automation, tax preparation, estimate creation, multiuser interface, mobile access, and lots more. However, you should choose the features specifically required by your business.

If you are in a budgetary crunch, you can opt for the free version of accounting software offering some basic functionality. You can later upgrade to the paid version offering comprehensive solutions.

Take Recommendations and Referrals:

Before investing in any software for bookkeeping and accounting services, it is always advisable to ask for referrals and recommendations from the other business owners in your industry. They can offer you better advice about different offerings and vendors in the market. You can also seek help from the online review sites for getting proper suggestions on this selection.

Check the Customer Services and Tech Support:

Using this software may seem easier but handling technical glitches, most certainly, is not. It requires expertise and experience of the highly skilled developers working extensively in these products. Hence, you must ask about technical support offered by the vendor. Secondly, their customer services should be available 24/7 to help you overcome the issues that hamper your accounting capabilities and efficiency.

Ask For A Free Trial:

Once you have narrowed down your options to a selected few, it’s time to ask for a free trial from each vendor. This will help you assess their software on various parameters and see if they can suffice all your business requirements. Mostly, the developers offer this option to sign up for a free trial on their portals. If they don’t make such an offer, you must reach out to them and ask for one.

Indulge Your Accountant In Selection:

Accounting software is designed to simplify the job of your accounting and bookkeeping department. It can’t replace the accountants. In fact, their suggestions matter a lot while making this decision. Hence, ask for their recommendations because they have dealt with many such software solutions. They can tell you which software serves the accounting needs of your startup in the best ways.

At Infognana, we have developed an advanced accounting software solution that caters to the multiple needs of our clients. Our accountants will help you choose the right software based on your business needs.

Benefits of Outsourcing Finance and Accounting Tasks to India

Outsourcing has become popular with small and large businesses alike because of the cost savings and the ease with which work can be got done. The companies that specialize in bookkeeping and accounting services have trained personnel and practice due diligence as far as compliance is concerned. India is a favorite destination not just for IT related work, but for finance and accounting related work as well.
India – the perfect destination:

People may wonder why multinational corporations and even small businesses think of India whenever outsourcing is mentioned. India has an excellent talent pool and they also have experts in data center hosting and can design excellent software applications for securing vital financial data, thereby adding value to business. Moreover the Indian workforce is diligent in the work and takes turnaround time seriously. They often carry out the tasks with 99% accuracy, and all this at affordable costs too. Outsourcing to India is certainly loaded with innumerable benefits.
The Cost Factor:
Most of the companies already outsourcing to India know that when it comes to costs there is no other country to beat India. For people who are yet to test the Indian shores, they’ll be surprised to learn that cost savings can be in an incredible range of 40% to 50%, thanks to the vast IT savvy and highly qualified task force that can undertake the most difficult of tasks and execute them with amazing accuracy. The costs, when compared to that of the U.S. and UK are a lot more affordable.

Efficiency levels:
The efficiency levels of the Indian workers are legendary. It is not mere rumors that almost 36% of NASA scientists are Indians. Moreover, when it comes to financial services there are none to beat the Indians in the quality of work, accuracy and turnaround time as well. With such high levels of efficiency, it is no wonder that India is the preferred destination for outsourcing.

Safety and Security:
Finance and accounting data can be very sensitive, hence safety and security of your data is of utmost concern. Most of the developed countries have devised fool-proof security systems and have them in place. However, there have been instances of data breach and sensitive information has been compromised. India is a nation of tech savvy IT professionals and the high-end technology ensures that your data is well protected, thanks to the servers that are well secured, as are the web-based apps.

Domain Expertise:
The primary reason why India has evolved as a primary destination for outsourcing bookkeeping and accounting services among a plethora of other services is the domain expertise. India has teams of highly-skilled staff working around the clock (most companies have staff working in various international time zones). The financial analysts and highly trained management graduates (MBA’s) have through knowledge of their domains and have ready answers and solutions to the many queries that customers have. Outsourcing to India makes perfect sense, try Infognana the specialists in various domains.