Financial and accounting processes are considered among the most mission-critical operations a company conducts, serving as the main backbone of any business activities across the entire company. Thus, a B2B accounting software solution, which is created to streamline, accelerate, and improve accounting related tasks or procedures from end-to-end, can benefit your business by delivering dramatic and measurable value to companies of all types.
In today’s business environment of stringent financial reporting guidelines as well as rigid policies regarding accounting practices, it is important that you make sure the accuracy of your financial data is perfect accounting software fully automates various financial transactions and related activities, minimizes errors caused by manual and tedious data entry, and improves data consistency and integrity.
With a top B2B accounting software solution, reporting and analysis, transaction tracking, auditing, data management, and other core activities that directly affect adherence to regulatory standards are enhanced dramatically. As a result, businesses can facilitate faster as well as more effective compliance. Additionally, accounting software solution offers the flexibility you need to adapt activities and modify procedures and workflows as they are needed.
Staff members in many finance departments are, in reality, bogged down with labor-intensive, paper-heavy, and cumbersome processes that not only waste their time but also distract them from the strategic and important activities. An accounting solution minimizes this burden placed on your finance professionals by automating repetitive and routine manual tasks, enabling them to focus more on those processes that have a direct impact on revenue generation as well as business growth.
An accounting system can provide business managers, financial analysts, and senior company bosses with complete, 360-degree, and unhindered visibility into your company’s financial status and performance. This level of insight can dramatically boost financial planning, strategic decision-making, and budget management resulting in a better revenue stream as well as a solid profitability boost.
With an accounting solution, and the in-depth, robust, ad hoc reporting and analysis features it can offer, companies can dig deep into their financial data, to unravel and understand critical trends and patterns that may positively and negatively affect their corporate performance. Aided with this intelligence, bosses can look at new opportunities to improve wide operations, get new income streams, check new markets, and boost cost-efficiency.
Finance departments or teams are often the hub of any business, frequently interacting with various unites or departments across the organization, and even external constituents like suppliers and vendors, clients, other business partners, and third-party payroll processors. Accounting software solutions allow for dynamic, rapid, and effective information-sharing among these groups, allowing greater communication as well as collaboration across and outside your company.
Some business accounting plans are designed to match specific industries, like manufacturing, wholesale distributors, construction, or retail businesses. While generic software solutions are usually more affordable, a software solution that is specific to the industry of your business industry makes your accounting tasks easier. For instance, if you run a small clothing boutique, you may need a retail-specific accounting software solution to help you better manage the inventory. It has functionalities designed to keep track of inventory items according to size, type, or color and may even offer a point-of-sale (POS) system.
List the tasks you want the software solution to do based on the structure and needs of your business. You might, for example, want something more basic that can help you track the cash flow, or perhaps you prefer a full program that will perform everything for you. Many basic accounting software solutions have budgeting tools, estimates, payroll services, inventory management, tax reporting, sales tracking, and contact management features like Outlook.
Depending on the needs of your business, your business may be able to use the features offered by many available free tools. For instance, if you are a proprietor and have no employees, no or little inventory to track, and only just a few customers, free software tools might be the best option.
Accounting software tools can range in price. If your business has a huge amount of inventory and a number of employees or more, you might want a more complex option.
Flexibility is a top factor when selecting your business accounting software. You may start off small, but if your business grows, you would want a software option that can accommodate higher inventory, more customers, and new staff. Check out if the tool has modules your business can add later or if it has regular upgrades. Also look at whether the software is cloud-based options. Cloud-based software tools are an increasingly top choice because the information can be quickly accessible for both you and your clients, especially with the popularity of mobile devices.
What are the top 5 B2B accounting software programs based on the key benefits it offer for your business?
Do you have a B2B product you’d like to add to our listing?
If you are a vendor and have an interesting B2B product that hasn’t yet been listed on our review platform feel free to let us know about it. You can add your product to the listing here. Our experts will be happy to prepare a detailed review of your product free of charge. Here’s an example of an accounting software review by us.
Sage 50 is an easy-to-use desktop accounting solution for growing small businesses. However it is also scalable to do big business accounting. It has standard accounting including accounts payables and accounts receivable; cash flow management, and bill payments.
Sage 50 can also perform quicker processing, has industry-specific functions, and can be run by up to 40 employees. It has advanced accounting tools such as inventory management and module-level security.
Sage 50 SmartScore and Customer Satisfaction
Our B2B experts conducted a review of Sage 50 features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Sage 50 a score of 7.8/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 97%.
FreeAgent is a web-based accounting and financial management suited for small businesses, especially those that have up to 10 employees. Whether you are starting as a business owner or are in the business already, this solution is for you.
Launched in 2007, the tool was created to handle the difficulties of managing financial matters for those that have small businesses or are freelancers. It intends to demystify accounting, provide you with a real-time visibility of financial operations, and redefine people and businesses with their finances.
FreeAgent SmartScore and Customer Satisfaction
Our B2B experts reviewed FreeAgent accounting software features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave FreeAgent a score of 6.9/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 97%.
The Denali tool is a cloud or on-premise accounting system designed for growing companies, from small to large enterprises. It has eight accounting modules you can separately buy or as add-ons to match your growing business needs. It is best suited for inventory data and reporting, customer transactions, and regulatory updates, making it perfect for retail/wholesale businesses as well as nonprofit organizations.
Denali (Cougar) SmartScore and Customer Satisfaction
Our B2B experts performed a review of Denali (Cougar) functionalities, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave Denali (Cougar) a score of 6.5/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 100%.
ZenCash is probably the easiest and most cost-effective accounting solution to assist with unpaid invoices. It has the elegant features of a cloud-based tool with the best accounts receivable team to equip your small business with an outstanding receivables and collections management.
ZenCash SmartScore and Customer Satisfaction
A detailed review of ZenCash features, user experience, customer support and other key elements of the service was conducted by our B2B experts. Final results as summarized by the SmartScore system gave ZenCash a score of 8.4/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 95%.
AccountEdge is a complete business accounting and management tool for small businesses, which automates business processes to help your business make sales and purchases; monitor and handle inventory, manage payroll, bill for time, as well as manage contacts.
AccountEdge SmartScore and Customer Satisfaction
Our B2B experts performed a full review of AccountEdge features, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave AccountEdge a score of 6.5/10 while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 100%.
FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.