eBooks
Issue link: https://read.uberflip.com/i/1067336
2019 Buyer's Guide to Accounting and Financial So ware 12 Buyer Beware How to Be an Informed Buyer As the buyer of a cloud solution, you're in control. Again, cloud vendors must earn your business every month. They are motivated to look past the initial sales transaction and focus on a longterm relationship that keeps you happy. A er you've done the hard work of assessing your requirements, drawing up your short list, and selecting a vendor to do business with, make sure that you understand what you are going to be paying for and when. Two Bits of Guidance: 1. Be wary of steep upfront discounts. Protect yourself by ensuring your agreement includes caps on price increases over time, or you can find yourself with a nasty surprise at the end of your first year of service� 2. Factor in all the variables to avoid surprises. Pricing models for cloud applications vary widely. Some vendors charge an all-in-one fee. Others might break out various components like maintenance, support, or training and then add overage charges based on the number of users or number of transactions� Conclusion You Are In the Power Seat With so many alternatives for financial applications, financial leaders must ensure they understand the implications of all options: on-premises, hosted, and cloud computing. Ultimately, cloud computing is about capitalizing on a new so ware delivery model that accelerates payback of a larger ROI and be er aligns the financial organization with the new dynamics of growing businesses. In this guide, you've discovered why legacy systems make it difficult to get good financial information, what to expect from a modern cloud-based solution, and how to make sure you choose the right solution for your organization. In today's market for accounting applications, the buyer has the power. No ma er what solution you choose, you should expect faster financial closes, easier regulatory compliance, less manual work, real-time visibility and reporting, and an outstanding service level agreement. Good luck with your buying journey.