Whenever I had any discussion with an SME owner, I had encountered this sort of question. Some of them, firmly believe that why to digitize your business, when you already have accounting softwares. For them, I want to address few queries, regarding myths vs facts of accounting softwares, used by an SME owner.
Myth 1- Accounting softwares are only used for year end reporting.
Well, this is a very common myth. Most people think that using any accounting software like busy or tally, is just before few days of annual report submission. Let me tell you, the fact is something else. Accounting softwares are used through out the year. You need to dedicate some time exclusively for that each day. So now, if it has to be a part of your daily business schedule, then for sure you need to have an accountant with you. Or else, you would have to hire some professional person, who would have the knowledge of such ERP softwares. Now here is the thing, if you get your business digitized, with our software TranZact, then you wont be having all such needs. Anyone who can handle a laptop and can use excel sheets, can use the products our team offers.
Read More - ERP for SMEs? Think again
Myth 2 - Accounting softwares can do almost everything that a digitizing software does.
So now, needless to say, accounting softwares can help you no doubt with your accounts. But there are still a lot of things, which your accounting software wont help you out with. Lets consider the following facts first.
- Do you have anyone to contact, if anything goes wrong?
- do you have someone to provide support to you if something goes off the track?
- If any error occurs, who would assist you regarding that?
- one of the most tedious task, about accounts, is reconciliation of the data, with your books of data with the final report. What if reconciliation goes not as per the plans?
If you try to answer the above questions, you would soon realize that no matter how much better your accounting software is, you would still have to face issues if you get stuck on something. Now, this is something unusual. You can get this sorted once you digitize your business and start using digitizing software like TranZact. With TranZact, we assist you with best possible chat and email support, apart from call support. You would get resolution through remote support within few minutes. yes you heard it right, this is the speed at which we operate.
Read More - Digital India: Why Businesses should Go Digital?
Myth 3- Accounting Softwares are very easy to Implement
Hmm, to be honest, I doubt. Many Accounting Softwares like Tally and Busy only require to install in the system and is then ready to use. Still, the process for its users in the organization is a little tricky. Firstly they have to learn about "How to use the software" and then get acquainted with it. So that is why it's a little tough to implement like any other new thing or system when used for the first time in the organization. And this process becomes a bit annoying. Generally, not many Big Accounting software companies provide On-Boarding customer support to all types of customers. At TranZact, our team helps our customers with every step of On-Boarding. And we guide all the Users of the product on How To Use it and make the Implementation process easy.
Read More - Why Does ERP Implementation Take So Much Time
Myth 4- Accounting is very simple, and can be done without any help.
Let me be very frank with you in this regard. Even though after the onset of accounting softwares, it has become easier than earlier days. But if someone gets stuck with some complicated transactions, then you will have to consult your CA. May be, getting your hands dipped into digitization will be a great step in this regard. Our team offers you all the necessary digitizing tools which will in turn help you in all such regards. Moreover, when it comes to customization of billing or inventory management, accounting softwares wont prove that helpful to you.
I don't strongly recommend to you using just an accounting software for your SME. Its good to have one, but its not enough certainly. I would rather vote for getting your business digitized instead of just relying upon the accounting softwares. Now if you are still in doubt, then let me clarify it in some more detail. To flourish your SME business, you would require to have as much digital technology as possible. Going digital, has stopped being a buzz word now. Nearly, 50% of world's population is active on internet. If you want to be on the same page with global tendencies, then you need to follow the digitizing trends. You will have to digitize your data, as well as other applications which would help you to conduct business in a more hassle free manner.
A lot of companies, including Paypal, Uber, Airbnb, OYO, and a lot more, have shifted their operations into an environment of newly built Digitized models. This conveys that no matter what industry your SME belongs to, you can implement digital solutions into your business. If you are struggling to implement the current ongoing digital trends, then TranZact is for you. Signing off, stay tuned, stay connected for more such articles.