Practice software up for renewal? Review before you renew.

Your practice software is up for renewal. Before committing to another year, you’re doing the right thing and examining your options. But where do you start in comparing the software you know with a provider more equipped for our new, remote working world?

Here are 6 things to consider before locking in your decision:

Is your solution tailored to your needs?

Feature rich software is one thing. Feature rich software that’s customised to your specific needs isn’t just easy to use and flexible to a changing world, it allows you realise the true value of your investment.

What kind of support are you getting?

Genuine support for you and your business means having a dedicated team you can speak to, seven days a week. Even if COVID forces your team back into isolation, they should never feel alone.

Are you keeping pace with your competitors?

Technology moves on, fast! If you’re considering committing to a vital piece of software for a significant amount of time, you want to be sure it’s giving you a competitive advantage. MYOB has invested over $40 million in the research and development of tools specifically for Australian Accountants like you.

How does your software strengthen your client relationships?

Life would be so much easier if all of your clients used the same tools. In reality, we know clients have their own preferences for software. That’s why it’s important that your software allows you to import competitor ledgers so you can complete all of your clients work in one place.

Are you getting the most from what you’ve got?

The fallout from the pandemic is still being felt, and at times like these you want to be sure you have the ability to get more done without the need to add costly additional resource. Is staying with the same software each year going to allow you to increase capacity and efficiency within your business so you can deliver more valuable advisory services?

Are your payments Cashflow sensitive?

Who saw COVID coming? Who knows what 2021 has in store? In uncertain times you’d be remiss not to question whether large annual subscription fees are in line with the current economic reality. Would small monthly payments be better for your cashflow?

What next?

Choosing the right practice software is an important decision. Before signing another year away on what you know, take the time to think deeply about what you need.
These 6 critical questions give you a framework for that assessment. If they have you re-evaluating your current situation, you’re ready for a free consultation with our team of specialists.

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Crofts Chartered Accountants & Business Advisors were asking themselves many of the same questions you are. To hear how MYOB were able to assist them in upgrading their practice software, and to use that change as a catalyst for growth, check out this article.