Choosing the Fund
Accounting Software Provider
Accounting Software Provider
Now that you’ve got some sense of whether the accounting software meets your accounting needs, take a moment to check out the vendor:
1. How long has the vendor been providing fund accounting
solutions? Is fund accounting their primary product or is it a secondary application?
2. How of ten do they update the product? Are the upgrades
offered as part of the service agreement or is there an additional
charge?
3. Does their support meet your needs? What about response time,
800 numbers, qualified technicians?
4. Is the documentation high quality? Is it available on-line?
5. Can the vendor provide you with a list of customer references
to check?
Is This Software Right For You?
Before you make your selection, you’ll need to see a product demonstration and, of course, check references. Product demonstrations come
in many forms. Many are nothing more than slide presentations or pareddown versions of the software. These demos may convey a list of features, but they won’t demonstrate how the product actually works.
A better alternative is to visit the software firm. You’ll get a highly
interactive demo and meet directly with sales, support, technical, and
administrative personnel.
Then, double-check your impression of the firm with reference calls
to organizations similar to yours. Are customers happy with both the
product and service?
Finally, consider whether you feel comfortable doing business with
the software provider. Does the company seem competent, sincere, and
have a real desire to meet your needs? Are they in this business for the
long run?
