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Winning the Numbers Game
Software to boost the bottom line.
Published March 2007
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BUY A REPRINTEntrepreneurs keep their businesses in shape by watching their, um, figures--that's what running, crunching, and massaging the numbers is all about. When it comes to understanding the financials, most business owners rely on that old standby, the spreadsheet. Indeed, 25 percent of small companies still run primarily on spreadsheets, according to a survey by AMI Partners, a New York City research firm. But there are a number of interesting new financial software tools that can help boost your company's fiscal fitness. Here are six we like.
Best for… Easy accounting
QuickBooks Pro 2007
What it is: QuickBooks, by far the dominant accounting package for small companies, needs little introduction. But its latest version adds some features.
What's cool: QuickBooks' 2007 version is easily customizable for a range of industries and also lets you create an accountant's copy, so your books won't be off-limits to everybody when your number cruncher is working on them. It also lets you use QuickBooks to manage Google (NASDAQ:GOOG) AdWord campaigns.
Drawbacks: Those who prefer to have their software hosted online will find that QuickBooks' Web-based version is not as robust or customizable as the licensed package.
Price: $200 per user; a three-user value pack runs $500. Support is free for the first 30 days.
Best for… Replacing QuickBooks
Intacct Small Business
What it is: Accounting software aimed at companies that have outgrown Excel and QuickBooks. Intacct offers a hosted suite of applications to run all your financial operations.
What's cool: Automatically handles complex and specialized accounting tasks. An access-control feature lets you determine who can use what features and functions. The software is certified compliant with the SAS 70 Type II audit standard and is designed to keep your company GAAP compliant and Sarbanes-Oxley compliant.
Drawbacks: This is a specialized software product aimed at people who are trained in accounting. It will require help to set up and tailor to your business's needs.
Price: $125 per user per month. Basic support is included.
Best for… Upgrading your spreadsheet
Adaptive Planning Corporate Edition
What it is: Supercharged spreadsheet software that offers tools to handle budgeting, forecasting, and reporting, as well as features to track actual performance versus budgeted performance.
What's cool: Adaptive Planning's Corporate Edition makes it easy to check performance by department or across your organization, as well as play with different budgeting scenarios. The software's dashboard interface automatically updates everything in real time.
Drawbacks: Businesses with fewer than 100 employees might find the product to be overkill.
