Frequently Asked Questions - Accounting Software Selection CD Edition

Although we have tried to provide sufficient information in our other Web pages, we know some people will have questions we might not have addressed adequately. This page lists some of the questions people have asked us over the past years, and hopefully you will find the answer to your own question. If you do not, or if you think we have not answered your question to your satisfaction, please give us a call. We would be more than happy to help you.

Rather than your having to scroll through the entire list of questions, we have compiled an index below so that you will be able to see the questions being asked and jump to them quickly.

General Questions

• I'm not quite sure which version I require?
• What if I don't like the product?
• How accurate is the information in your database?
• How do you keep the information for so many products current?
• Does Solutions receive any compensation from the vendors?
• There are one or more products in which we (or our clients) have an interest that are not in your database. Is there any way we can add them?

User Questions

• Why should I spend $150 (much less $550 or $850)?
• Why should I purchase software to help me select accounting software?
• We have already started our software selection process, and have even talked to several vendors. Isn't it too late to use your tool?
• What happens if we really need a lot of help, not just with the analysis program but the actual process of selecting software?
• Wouldn't it be easier to just look at several of the better known products and select one of them?
• We really need a product specific to our industry. Does The Accounting Library address any industry specific applications?

Consultant Questions

• I only want to work with products I know. How can The Accounting Library help my firm?
• We already have a software selection methodology in place. Why should we purchase The Accounting Library?
• We already use a tool similar to The Accounting Library. Why should we even consider your product?
• We don't offer software consulting services at the moment. How can The Accounting Library help us enter this market?
• I recommend particular products to my clients, and therefore receive a fee from the vendors. How will The Accounting Library help me?
• We are a large CPA firm with a diverse practice spanning several industries. Can The Accounting Library help us?
• One of our most difficult problems is training new consultants. Is there a way The Accounting Library can act as a training tool?
• We have several (many) consultants in our firm. Would we have to purchase a separate copy for each user?

Small CPA Firm Questions

• Software consulting is a minor part of our business, and I just don't have time to devote to this service area. What are my options?
• We don't offer software consulting services at the moment. How can The Accounting Library help us enter this market?
• Why should we offer software consulting services in the first place?
• Many times our clients might be better served by looking at products specific to their industry. Since The Accounting Library does not address all industries, what can we do?
• We already have a software selection methodology in place. Why should we purchase The Accounting Library?
• We already use a tool similar to The Accounting Library. Why should we even consider your product?

Accounting Software Reseller Questions

• Why do I need The Accounting Library? My objective is to sell the product(s) I represent.
• Why should I have to "sell" anything? All I want to do is concentrate on the technical aspects of accounting software.
• Why should I invest $150 in The Accounting Library?
• We are interested in the Enterprise database, but the Reseller Edition only mentions the Standard Edition database?
• Assuming the concept of Business Excellence might be of interest to our clients, what other benefits can be earned by investing in The Accounting Library?
• I don't want to let my prospects know anything about other products. Isn't the analysis program with its 115+ products going to let them see how my product stacks up against my competition?

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General Questions

Q: I'm not quite sure which version I require?

A: We have structured our services to accommodate subscribers who may need to upgrade from one edition to another. All you have to do is pay the difference between the two, and we will send you the upgraded program (and new documentation if required). There is no penalty associated with an upgrade.

We have taken this service one step further for our consulting subscribers. Many consultants work with a whole range of clients. Rather than subjecting clients to the most sophisticated (and lengthy) questionnaire, we have provided our consulting subscribers when asked with both editions of the analysis program at no additional cost.

There are four ways to determine which product (Standard Edition, Enterprise Edition, or Modifiable Edition) will serve you most effectively.

• If you are only interested in mid-range or lower products and your needs are not that complex, you should purchase the Standard Edition.
• If you are only interested in mid-range or lower products, but you would like to, or need to, base your needs definition upon our more comprehensive set of questions (2,800+), but you do not need to define any additional requirements, you need to purchase the Enterprise Edition.
• If you are interested in one or more of the enterprise solutions such as One World, Oracle, etc., you need to purchase either the Enterprise or Modifiable Edition.
• If your requirements are sufficiently complex that you need to define additional questions unique to your organization, you need to purchase the Modifiable Edition.

If you are still unsure which product is best-suited, start with the lower ranking one as in one of the examples below.

• If you start with the Standard Edition, but are not quite sure whether the top-end products in this database will meet your long-term requirements, run the analysis and examine only one or two top products. If they seem to be lacking, you can upgrade to the Enterprise Edition, import your previous needs definition, answer the additional questions, and then run the analysis against the expanded database.
• If you start with the Standard Edition, but think you might need the larger questionnaire found in the Enterprise Edition, we have included on the CD the questionnaire checklist for both editions. Before you do anything else, examine these two MS Word files to determine which questionnaire seems to be most appropriate.
• If you start with the Enterprise Edition, but later find that you really need the Modifiable Edition in order to define requirements unique to you or your client, you can upgrade to the Modifiable Edition, export any needs definition files from the Enterprise Edition and then import them into the Modifiable Edition.

Q: What if I don't like the product?

A: We offer all of our subscribers an unconditional money-back guarantee of 30 days. If you are not satisfied, simply call us to let us know, and then return The Accounting Library to us.

Q: How accurate is the information in your database?

A: We make every effort to make sure the information is accurate as well as current, and that requires 750+ hours per year to do so. Maybe the following points will address this question:

• We make it very clear to all vendors, particularly new ones, that we will remove their product from our database if we find they have deliberately misled us and our subscribers.
• In most cases we have formed very close working relationships with each vendor, and know them well enough to know they will not provide misleading information.
• When we receive information from a vendor, whether a new addition altogether or just an update, we review the vendor's responses to make sure they have answered all questions. Then we test their responses against a standard needs definition to make sure the product's score falls within the range we would have expected. If anything seems to be questionable, we will not add that product to the database until we have discussed the matter in more depth with the vendor and are convinced in our own minds that the information is accurate.
• From time to time we will sit down with a vendor and have them prove to us the validity of every single response. This process usually requires a full day. In most instances the net change rate is in the 3-4% range.
• We encourage our subscribers to let us know when they find information that is inaccurate so we can discuss it with the vendor and make whatever changes are necessary.
• Given the number of products in the database and the number of questions asked of each vendor, there will be some inaccuracies. However, these should not affect the validity of the analysis particularly when your objective is to identify several products, not purchase a single product.

Q: How do you keep the information for so many products current?

A: Admittedly, our most difficult task is keeping the information timely. We try to update our database three times each year. Each vendor has a computer program we have sent them containing all of the questions as well as all of their previous answers. As products are updated, vendors should update the information in their copy of what we call our Vendor Program. Unfortunately, people tend to be very busy when new releases are sent, and it is therefore difficult for them to update us immediately. Since we have developed personal relationships with many of these vendor contacts, we try to have them provide the updated information as the product is being beta-tested, rather than waiting for the crush at release. Since this doesn't always work out, there will be times when the version number in our database is not as current as we would hope.

Q: Does Solutions receive any compensation from the vendors?

A: In order to avoid any hint of favoritism, Solutions does not charge any vendor for participating in The Accounting Library, nor do we receive any compensation from vendors should you select their product. From time-to-time we will suggest that subscribers look at particular products because we feel these products might be of interest, but we do not recommend any product specifically, nor do we even resell any of the products in our database. The decision to purchase a product is one which must be made by each individual user organization, and we will refuse to make a purchase recommendation, even if we are asked.

Q: There are one or more products in which we (or our clients) have an interest that are not in your database. Is there any way we can add them?

A: Actually there are three different ways new products can be added. If you purchase the Standard Edition, we will work with you to add any product of interest to you, but you will have to wait until our next regular update to add those products to your own program. If you have purchased the Enterprise Edition, we will send you the updated vendor file just as soon as we receive the vendor's completed questionnaire. Finally, if you purchase the Modifiable Edition, you can send the vendors your questionnaire directly. In any case, we will work with you to add products of specific interest to you (assuming of course the vendors are interested in responding to our questionnaire).

User Questions

Q: Why should I spend $150 (much less $550 or $850)?

A: The process of selecting an accounting system can become quite time-consuming and for many organizations very frustrating. The Accounting Library will create a structured methodology whereby you can reduce the time it takes for this whole process significantly. Actually, if you add together the value of your time and other people in your organization and compare it against even the cost of even the Modifiable Edition ($1,295), you will save your investment many times over just because we give you the information you need rather than your having to spend hundreds of hours searching for it.

Q: Why should I purchase software to help me select accounting software?

A: You might want to look on this as a form of insurance. You may know your needs very well, and feel you know how to select software. I honestly hope you do! The problem here is that financial management systems are the heart of an organization. The product you select will either help you continue to grow and prosper. Unfortunately, the wrong product can act as an anchor, dragging you down rather than helping you survive. The Accounting Library will help you avoid the pitfalls that trap many organizations, and therefore concentrate on growth and prosperity.

Q: We have already started our software selection process, and have even talked to several vendors. Isn't it too late to use your tool?

A: It's never too late to use The Accounting Library. If you have already defined your needs, are you sure you have covered all of the bases? Are you sure you are talking to the right vendors? Are you sure your firm is ready to undertake this massive project? It will take you very little time to read through the manuals, create a needs definition file, and determine which products are best suited. You may find that no change is required in which case you will feel much better about your chances for success. What happens if you find that there are areas you have missed or products which you did not consider initially? In this case you might have averted a near disaster. In either case using The Accounting Library will prove to be beneficial. Q: I'm not quite sure which version I require? A: Unless you know your firm should be looking at enterprise solutions such as One World (J.D. Edwards), SQL Financials, etc., you should start with the Standard Edition ($395). If you then decide that the top products in that database might not meet all of your needs, you can upgrade to the Enterprise or Modifiable Editions by paying only the difference between the two versions. Q: We really don't know a great deal about selecting accounting software. Wouldn't it be better to hire an outside consultant to help us? A: It might be better to hire a consultant who has been through this process before, but remember one thing before you proceed. Consultants will charge you a fee of $85 - $250 per hour. The more you can do to prepare yourself, the better off you will be. The Accounting Library will help you understand the process of selecting software so that you can participate more fully with your consultant. In addition, the needs definition forms will help you create a document for your consultant which they can use quite easily without your having to pay them to do the exact same thing you can do by yourself using this tool. In the end I would suspect that you will save your investment many times over.

Q: What happens if we really need a lot of help, not just with the analysis program but the actual process of selecting software?

A: Our support policy is unique. Technical support for the program itself is a given. However, we take our responsibilities very seriously when it comes to helping our subscribers. I don't care whether you know exactly what you are doing or really need a lot of help. You can call us for any reason at all and talk for as long as you like. You can call us on the weekend or at night. We will try to help you in any way you feel is needed, and we mean that quite literally.

Q: Wouldn't it be easier to just look at several of the better known products and select one of them?

A: The leading products on the market are all very well respected and powerful systems. However, one of the lesser-known products of which you are unaware might be the best-suited match in the end. The only way you are going to make sure your choice is the best one for your organization is to cast as wide a net as possible initially. If one or more of the leading products do appear to be best-suited, then you will have confirmed that fact. If another product appears to be a good match, then you will have done your organization a great service by using a tool like The Accounting Library.

Q: We really need a product specific to our industry. Does The Accounting Library address any industry specific applications?

A: The Accounting Library analyzes accounting, distribution and manufacturing. We do list a significant number of industries and ask our vendors if their product includes functions specific to these industries, but we do not address any industries directly other than accounting, distribution and manufacturing. However, there are two ways you can address this problem. You can complete your needs definition using the questions we do ask, identify those products which seem to be best-suited, and which say they address your industry. Then you can discuss your industry specific requirements with these vendors.

Alternately, you can purchase the Modifiable Edition and create a needs definition file containing features unique to you and your organization. Once you have completed your needs definition, you can send it to any vendor you feel is most appropriate. These could be vendors serving your industry directly, or main-stream vendors who have created industry-specific applications.

Consultant Questions

Q: I only want to work with products I know. How can The Accounting Library help my firm?

A: There are two ways to look at this question. First, there is nothing wrong with restricting your consulting practice to a few products you know well enough to recommend. However:

• you might not be able to help all of your clients because their needs might differ from the products with which you are familiar. By using The Accounting Library, you can expand the number of clients you can serve.
• you might limit the services you render you clients, and therefore the amount of money you charge. The Accounting Library lets you help clients define their needs in detail and spend more time with you, their consultant. Yes, you will be billing them more, but you will also be providing your clients more services.

Q: We already have a software selection methodology in place. Why should we purchase The Accounting Library?

A: Although you may have a very strong practice based on what you consider to be a reliable selection methodology, your clients deserve the best you can possibly give them. Maybe we use forms or processes that might be of interest to you. Even if you decide no change in your current methodology is required, you will have satisfied yourself that you have researched other options on behalf of your clients.

Q: We already use a tool similar to The Accounting Library. Why should we even consider your product?

A: This answer is somewhat similar to the previous one. The tools you use to help your clients select software may be perfectly suited to you. However, there is a chance that The Accounting Library is an even more powerful tool. If your objective is to offer your clients the best service possible, you owe it to them to investigate even tool available. In actual fact, many firms use our tool as well as other tools, just to make sure they always have access to all alternatives.

Q: We don't offer software consulting services at the moment. How can The Accounting Library help us enter this market?

A: Everything you need in terms of software consulting services are provided in The Accounting Library. The manuals provide users, and therefore you their consultant, with the complete selection and implementation methodology, all of the forms you will need, and of course the most powerful selection tool available on the market. All you have to do is read through the manuals to familiarize yourself with the methodology and forms as well as the analysis program itself.

Q: I recommend particular products to my clients, and therefore receive a fee from the vendors. How will The Accounting Library help me?

A: The key to recommending or reselling any accounting product is a thorough knowledge of that product. However, that's only half the answer. If you are a CPA or consultant, you have to maintain the highest level of integrity possible. That means adopting some form of "due diligence" whereby you study your client's requirements and make an appropriate recommendation based upon an intimate knowledge of both the client's needs as well as a product's capabilities. The Accounting Library lets you restrict your analysis to only those products you represent or with which you are familiar. The key here is that you and your client use the analysis program to define their requirements in detail and prove the fit with the products you represent.

Q: We are a large CPA firm with a diverse practice spanning several industries. Can The Accounting Library help us?

A: While The Accounting Library tends to focus its attention on financials, distribution and manufacturing, there is nothing to stop you from creating versions of the program specific to those industries in which you have a practice. Here you would need the Modifiable Edition, but the investment would enable you to create and maintain databases of questions and vendor responses for any industry you choose. Since it is likely that you help your client create RFIs or RFPs, you can use the Modifiable Edition to do exactly the same thing, but update and reuse these databases whenever required.

Q: One of our most difficult problems is training new consultants. Is there a way The Accounting Library can act as a training tool?

A: The Accounting Library is a ideal training tool. Rather than your having to spend your valuable time training new consultants, you can let them read through the manuals and experiment with the analysis program on their own, just like they were one of your clients. This process of self-study is far more efficient than wasting the valuable billable time of a senior consultant doing exactly the same thing.

Q: We have several (many) consultants in our firm. Would we have to purchase a separate copy for each user?

A: The Accounting Library purchase agreement includes a site license for a single location. If you have ten consultants or even fifty in a single office, you have to purchase but one copy of the analysis program. If you wish, you can copy the manuals and duplicate the analysis program CD, or we would be more than happy to sell you additional copies of the manuals and CD at substantially reduced rates after the first copy.

There is one proviso which must be followed. This is a single location site license. If you would like to use The Accounting Library in several offices, you will have to purchase additional copies. However, the price per copy goes down as the number of sites increases. We would be more than happy to discuss a multiple site license agreement with you.

Small CPA Firm Questions

Q: Software consulting is a minor part of our business, and I just don't have time to devote to this service area. What are my options?

A: One of the strongest selling points of The Accounting Library is the fact that busy CPAs, whose major revenue sources lie in other areas, can either resell The Accounting Library or let their clients use the manuals and analysis program while they attend to other more important matters. You can load the analysis program on your client's computer and let them do the needs definition for you (actually that's the preferable method anyway). Then you and the client can do the analysis. Alternately you can load the demonstration version of the analysis program on your client's computer, have them create the needs definition file for you, and then you import it into your live version where you will do the analysis. Either way you can provide software selection services to clients without your having to spend a great deal of your valuable time doing so.

Q: We don't offer software consulting services at the moment. How can The Accounting Library help us enter this market?

A: Everything you need in terms of software consulting services are provided in The Accounting Library. The manuals provide users, and therefore you their consultant, with the complete selection and implementation methodology, all of the forms you will need, and of course the most powerful selection tool available on the market. All you have to do is read through the manuals to familiarize yourself with the methodology and forms as well as the analysis program itself. It would take you very little time and effort to begin to offer clients the same level of service larger consulting organizations offer.

Q: Why should we offer software consulting services in the first place?

A: While the bulk of your business may lie in other service areas, you might actually lose clients simply because you cannot help them select their next accounting system. They may use a CPA firm who does offer such services, and develop a good working relationship with that firm to the point that they decide to move all of their business. If for no other reason than protecting your current business, you should try to help clients with software selection, even if you do no more than recommend that they purchase The Accounting Library.

Q: Many times our clients might be better served by looking at products specific to their industry. Since The Accounting Library does not address all industries, what can we do?

A: There are two ways to approach this problem. We do ask if a vendor has applications (usually written by one of their VARs or an ISV) which address specific industries. You could see which products address this industry by answering just that one question. Then you could talk to the vendors to see how well they serve this industry. If you wish, you can then use the analysis program to determine how well the product meets your general accounting requirements. Obviously you will have to analyze the industry specific applications manually.

Alternately, you can call Solutions. We try to maintain lists of industry specific products that might be of use to our subscribers. Although these lists are not exhaustive, we may be able to help you get headed in the right direction.

Q: We already have a software selection methodology in place. Why should we purchase The Accounting Library?

A: Although you may have a very strong practice based on what you consider to be a reliable selection methodology, your clients deserve the best you can possibly give them. Maybe we use forms or processes that might be of interest to you. Even if you decide no change in your current methodology is required, you will have satisfied yourself that you have researched other options on behalf of your clients.

Q: We already use a tool similar to The Accounting Library. Why should we even consider your product?

A:This answer is somewhat similar to the previous one. The tools you use to help your clients select software may be perfectly suited to you. However, there is a chance that The Accounting Library is an even more powerful tool. If your objective is to offer your clients the best service possible, you owe it to them to investigate even tool available. In actual fact, many firms use our tool as well as other tools, just to make sure they always have access to all alternatives.

We only recommend a limited number of products. If the client doesn't like those products, we cannot help them further. Why should we purchase The Accounting Library when we work with so few products?

A: It's perfectly acceptable to work with only a few products. Hopefully you have come to know these products very well. However, the process of selecting software is more complicated than just saying "Purchase this product". All users should look at their strengths and weaknesses, determine what they need to do well in order to prosper, define their requirements in detail, and determine which products are best-suited. Even if you recommend only one or a very limited number of products, all of your clients should follow these same selection procedures. If you want you can restrict the database to only those products you recommend. That's perfectly acceptable. The key here is that you have allowed your clients to define exactly what it is they require of their new system, and confirmed with you that the product you are recommending is an appropriate fit. Your clients do not have to even know that the database contains information on 115+ products. You will have provided them the service they deserve, and done so far more efficiently than you could using any manual software selection process.

Accounting Software Reseller Questions

Q: Why do I need The Accounting Library? My objective is to sell the product(s) I represent.

A: Every reseller thinks they represent the best-suited product. You wouldn't resell the product if you didn't. The problem is getting prospects to listen to you and the story you have to tell. There are so many excellent products available that users assume (and probably quite rightly) that there is little to choose between products. You have to give prospects something other resellers do not, and this gift needs to address their core requirement which is increased profitability, and the gift needs to be given as early in the sales cycle as possible, preferably in the very first conversation you have with a prospect.

The manuals which accompany the Reseller Edition of The Accounting Library have been designed to give you this competitive edge. Rather than prospects seeing your objective as selling the product(s) you represent, they allow you to set an entirely new set of user-oriented objectives based upon helping them increase their long-term profitability through what we have called Business Excellence. This offer alone will be sufficient to induce some (not all) prospects to want to talk to you first, if not to the exclusion of your competition. Business Excellence is a very powerful weapon and should be part of your sales presentation.

Q: Why should I have to "sell" anything? All I want to do is concentrate on the technical aspects of accounting software.

A: Whether you like it or not, your success is going to be dependent upon your ability to sell yourself and the products and services you offer your clients. Having said that though, we have structured the manuals of the Reseller Edition such that you don't have to become the typical salesperson. All you have to do is understand the principles of Business Excellence, and offer it to your prospects the way we have suggested in the Sales and Marketing manual. If you feel uncomfortable playing the role of a salesperson, you can use our approach and avoid it altogether.

Q: Why should I invest $150 in The Accounting Library?

A: I will guarantee that at least one prospect will select you and your product because you can offer them a path to greater profitability through Business Excellence. Assuming you will earn $2,000 in gross margin (probably more) as a result of this sale, the return on your investment will be at least 406%. If you want to walk away from an investment like that, be my guest!

Q: We are interested in the Enterprise database, but the Reseller Edition only mentions the Standard Edition database?

A: The Reseller Edition can be ordered with either the Standard Edition or Enterprise Edition database. However, we will be more than happy to ship you any of the three versions of the analysis program (Standard, Enterprise or Modifiable). The only requirement is that you pay the retail price of the version you wish to purchase.

Q: Assuming the concept of Business Excellence might be of interest to our clients, what other benefits can be earned by investing in The Accounting Library?

A: Once you have convinced a prospect that the best path to greater profitability lies through you and your organization, the two other user manuals in the Reseller Edition lets you work with your prospect to define their requirements and prove the fit with your product and then prepare for the installation and implementation process. Now you are really working with them as a consultant, and in many cases can charge them for these added-value services.

• All users no matter whether they are working with a reseller or consultant or doing it themselves, should define their requirements in as much detail as possible. This is the only way they have of telling you exactly what they require. The last thing you need is a client saying several months down the road that they thought your product did so-and-so when it does not. They expect you to have asked them the right questions, and the only way this can happen is if you complete the needs definition and analysis using the analysis program in The Accounting Library.
• All users should participate in the installation and implementation process as fully as possible. That's what the second user workbook is all about. The Installation and Implementation Guide has been designed to help your clients understand what's going to happen and when. In addition it helps them understand that they must be responsible for certain aspects of this process, particularly making sure that their own organization and people are ready for the challenge. You cannot overcome internal or personnel deficiencies by installing new software. Those same problems will continue. The Installation and Implementation Guide will help your clients analyze and improve their internal business processes so that everything works better than it did before.

Q: I don't want to let my prospects know anything about other products. Isn't the analysis program with its 115+ products going to let them see how my product stacks up against my competition?

A: The analysis program is available only to you. The needs definition and analysis process utilizes a demonstration version of the analysis program to help users define their requirements. The analysis you carry out, does not include your competition. It only reviews the prospects needs and says how your product will meet those needs. That's all it is designed to do, and that's exactly what the accompanying manuals say.

Having said that though, your having access to other product information can help you during the sales process. If a prospect is too far into their selection process where Business Excellence will not work, you can plug their requirements into the analysis program yourself, run the analysis against the known competition, and if your product finishes first show the report to your prospect. Here letting them see the data for your competition will prove to be beneficial. If your product does not finish first in the analysis, you can use the information to identify your strengths and your competition's weaknesses.