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2018 Buyer's Guide to Accounting and Financial So ware 9 Demo or trial from short list. There's no substitute for careful evaluation of the user experience. But also be sure to see how things work at the administrative level as well. Focus on product fit. Don't overlook the basic truth: Regardless of deployment model, there's still no substitute for functional excellence. You need a financial system that offers the comprehensive, up-to-date features that modern organizations require. For instance, many companies find that multiple entity consolidation and project-based accounting are as essential as real-time reporting, process customization, automated approvals, and integration with other so ware products. Check references, score, and select. Be sure you carefully screen vendor references. Make certain that vendors provide access to happy and successful customers, but don't overlook online forums like the Salesforce�com AppExchange, where you can access unscreened, unfiltered feedback about vendor performance� Ve ing Cloud Vendors What to Look for in a Cloud So ware Provider When you move finance to the cloud, your vendor—not your IT department—will operate the financial system for you. This fundamental difference should have a major impact on your evaluation process. It's not like the old days when you licensed so ware from the vendor, and then were on your own. In the cloud computing world, the vendor has to form a long-term partnership with you and continue to earn your business every month. So you need to ensure your vendor can do a be er job at running your system than you can—and that it will keep up the good work, month a er month. 7 A ributes to Look for in a Cloud Vendor 1. Implementation success. The ideal cloud financials solution is designed from the ground up as a cloud application and is backed by a vendor and partners with extensive experience. Make sure your vendor can point to a proven track record of successful implementations� 2. Operational track record. Your chosen vendor isn't merely developing and licensing so ware. They're managing the financial systems that run your business—which makes the partnership strategic for you. Find out how your vendor conducts business. What's the cultural fit with your company? What standards do they pursue? Where are the applications physically being run? 3. Data ownership. Ensure that it is unambiguous that you own your own data and can obtain a copy of your data (for an appropriate fee) if your relationship ends. You'll also want an agreement for appropriate assistance in migrating away from the vendor should you ever decide to leave. Regardless of deployment model, there's still no substitute for functional excellence.