1. Enterprise scale: There are basically three types of enterprises based on size: large (group) enterprises, small and medium-sized enterprises, and small private enterprises (individual businesses). Enterprises must consider their own scale when selecting financial software, as it involves different problems, such as the operation process and staffing for enterprise financial management. Furthermore, there are also substantial differences in software functions.
2. Workflow: When selecting financial software, the enterprise must ensure that the handling process of the software is as compatible as possible with its own financial processes. When the financial process of an enterprise changes, the handling process of its financial software must also be changed; otherwise, the enterprise will incur substantial costs for process transformation. Therefore, when selecting a financial software, the enterprise should make a plan of the financial process after accounting informatization based on the current financial process, and then choose the appropriate financial management software.
3. Financial reporting capability: The main function and purpose of financial software is to generate timely and accurate financial reports. Therefore, the enterprise must consider the financial software.
4. Function customization: User-defined functions are also one of the evaluation indicators for the selection of financial management software. Some financial software include this functionality as part of their standard product, while others allow their users to self-define, and still others do not include this functionality but offer it as a paid add-on. Users must pay attention when selecting the software as this is related to the user needs and the price gap.
5. Form support: Financial software is a table designed specifically for financial data access and calculation. It should feature quick and convenient data access, specialized data access and calculation functions, as well as the ability to create operation programs such as background batch orders and customized interfaces such as the menu.
6. Software integration: Not just financial management software but all management software should have its integration needs considered. During the course of an organization's growth, new needs will surface. The business will incur not only monetary but also time and resource losses if its current financial software is unable to be easily adapted to the new functional requirement. As a result, the company needs to exercise caution when making its choice of financial software.